Galena Biopharma inventory surges 21% after impartial community says breast melanoma drug has no protection issues - MarketWatch

Galena Biopharma Inc. GALE, +21.42% shares surged 20.8% in pre-market alternate Monday after the enterprise referred to an independent group of consultants determined its breast melanoma mixture medication in two mid-stage trials had no safeguard considerations and found neither to be futile. Galena is testing its NeuVax with chemotherapy drug trastuzumab in two medical trials, one section 2b and the other phase 2, to avoid recurrence of breast cancer. The facts safety Monitoring Board's findings suggest the rigors can proceed, Galena's govt vp Bijan Nejadnik stated. The enterprise ended a late-stage medical trial of the equal drug, Neuvax, final 12 months on a distinct impartial committee's advice and the committee's futility considerations. An interim efficacy evaluation for the part 2b trial of NeuVax and trastuzumab is anticipated close the end of this 12 months, Galena mentioned. Galena shares had been priced at $1.20 as of Friday's shut. Galena shares have dropped 68.4% over the remaining three months, in comparison with a ten.2% upward push within the S&P 500 SPX, -0.29%