Galena Biopharma stock surges 21% after impartial neighborhood says ... - MarketWatch

Galena Biopharma Inc. GALE, +17.50% shares surged 20.8% in pre-market change Monday after the enterprise stated an independent neighborhood of experts determined its breast melanoma aggregate remedy in two mid-stage trials had no safety issues and located neither to be futile. Galena is testing its NeuVax with chemotherapy drug trastuzumab in two clinical trials, one section 2b and the other section 2, to avoid recurrence of breast melanoma. The information safeguard Monitoring Board's findings mean the pains can proceed, Galena's executive vp Bijan Nejadnik spoke of. The enterprise ended a late-stage scientific trial of the equal drug, Neuvax, remaining year on a special unbiased committee's advice and the committee's futility concerns. An period in-between efficacy evaluation for the phase 2b trial of NeuVax and trastuzumab is anticipated close the conclusion of this 12 months, Galena said. Galena shares had been priced at $1.20 as of Friday's shut. Galena shares have dropped 68 .4% over the remaining three months, compared with a ten.2% rise in the S&P 500 SPX, -0.21%