Galena issues over 3.6M shares of stock to resolve outstanding issues

• In a regulatory filing, Galena Biopharma (GALE) discloses that, on July 6, it agreed to issue 3,125,000 shares of common stock to five parties to settle outstanding claims in a "certain matter."
• In addition, it settled a securities class action lawsuit for $20M, $16.7M of which was paid by the company's insurance carriers and $2.3M in cash paid by the company on July 1. On July 6, it issued 480,053 shares of common stock pursuant to the court order.