Galena Biopharma responds on stock-promotion allegation

|About: Galena Biopharma, Inc. (GALE)|By:, SA News Editor

Galena Biopharma (GALE -14.3%) late today publicly responds to its shareholders, amplifying what were brief dismissals of Adam Feuerstein's Wednesday article on the firm and stock-promotion allegations, and calling his work "tabloid-like."

"The only facts in Mr. Feuerstein's most recent article that are remotely accurate," writes CEO Mark Ahn, "are that Galena previously engaged the DreamTeamGroup and that insiders at the company, including me, divested shares in mid January."

Volume of more than 40M shares today was nearly four times the company's average; after-hours shares were tracking slightly higher from the close, +0.5%.