Galena Biopharma rises on acquisition of ET treatment

Galena Biopharma (GALE +13.7%) rallies on news the company is buying Mills Pharmaceuticals, giving GALE rights to GALE-401 (CR anagrelide), a treatment for Essential Thrombocythemia.

In GALE's estimation, the drug "meets the qualifications for orphan drug status [and] has an estimated peak market size of approximately $200M in the U.S."

The company says a Phase 2 study should begin in "mid-2014."

GALE made an upfront payment to Mills' owners who are also eligible for stock grants and a milestone payment, the latter is contingent upon FDA approval of an NDA for '401. (PR)

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Comments (5)
  • Nataku
    , contributor
    Comments (70) | Send Message
    So happy I bought this. What do you guys think the ceiling will be for this stock this year? I'm hoping for $9 in a few months :D
    13 Jan 2014, 02:21 PM Reply Like
  • MichaelJ8
    , contributor
    Comments (884) | Send Message
    ceiling, this year... 80$...
    13 Jan 2014, 05:20 PM Reply Like
  • Ali Balkan
    , contributor
    Comments (189) | Send Message
    This year will pas $20..........cheers...... I'm glad I'm in it since July/ 2013......47k shares.
    13 Jan 2014, 10:27 PM Reply Like
  • wwolfson
    , contributor
    Comment (1) | Send Message
    Gale looks too good.
    If all cylinders fire this could go to 100.
    So far we have 3 cylinders.
    14 Jan 2014, 06:34 AM Reply Like
  • ocean4404
    , contributor
    Comments (3) | Send Message
    Want to thank adam feuerstein for giving me so many opportunities to add to my positions. I figure he helped me fast forward my retirement by 3 far.
    14 Jan 2014, 06:41 AM Reply Like
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