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Galena Biopharma (GALE +7.7%) jumps this morning after Aegis Capital initiated the shares with a...

Galena Biopharma (GALE +7.7%) jumps this morning after Aegis Capital initiated the shares with a Buy and a $6.00 price target. Aegis says that GALE has developed a novel approach to combating the recurrence of breast cancer in patients with minimal residual disease. The firm's lead candidate, NeuVax, is a peptide vaccine derived from a protein that is the target of several widely used breast cancer treatments. It's currently conducting Phase III trials and is slated to report interim data in late 2013.
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