Galena Biopharma Inc (NASDAQ: GALE)
Galena Biopharma looks like it’s going to have an incredible day in the market today. While the trading session hasn’t opened quite yet, the stock is already seeing massive pre-market gains. Below, we’ll talk about what we’re seeing from the stock, why, and what we’ll be watching for with regard to GALE ahead.
What We’re Seeing From GALE
As mentioned above, Galena Biopharma looks like it is going to have an incredible day in the market today. While the stock traded flat yesterday, closing at $1.96 per share with no gain, pre-market trading is getting exciting, to say the least. At the moment (8:36), GALE is trading at $2.55 per share after a gain of $0.59 per share (30.10%) thus far.
Why The Stock Is Climbing
As always, as soon as we received the alert from one of our trading tools that GALE was making a run for the top, the CNA Finance team started digging to see what was causing the movement. In this particular case, it didn’t take long to uncover the story. The company seems to be gaining big after announcing that it has confirmed a key regulatory pathway.
You see, Galena Biopharma has a decent pipeline. One of the drugs in this pipeline, GALE-401, looks to be overwhelmingly promising. However, promise is one thing; a clear path to approval is another. Nonetheless, the company announced that it has confirmed a clear path toward regulatory approval for the treatment. Of course, this is incredible news for GALE investors, causing big gains in the pre-market.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on GALE. In particular, we’re interested in following the progress on the path to regulatory approval for this and other key treatments in the company’s pipeline. We’ll keep a close eye on the news and bring it to you as it breaks!
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