Galena Biopharma, Inc. (NASDAQ:GALE) to Focus on Clinical Development Programs


Galena Biopharma, Inc. (NASDAQ:GALE) recently reported completion of its strategic review and financial results for the last quarter to the media. The company also announced its intention to divert its financial resources and efforts towards clinical development programs, especially towards the high- value oncology pipeline comprising NeuVax™ (nelipepimut-S).

Galena plans to disassociate its commercial business of Zuplenz® (ondansetron) Oral Soluble Film and Abstral® (fentanyl) Sublingual Tablets from the above clinical development programs.

Divesting for Accounting Purposes

The classification of the commercial business interests is being initiated for streamlining the accounting and financial working of the company. Galena has already hired a financial advisor for expense guidance and for providing strategic advice on the process of divesting the commercial business. The company is anticipating exit from the commercial businesses by the turn of the second quarter of the New Year.

The patients and the providers, however, will not face scarcity of both the drugs. The good news is that Galena will ensure ongoing access to its existing drugs until the business has transitioned out correctly.

Expanding and Advancing Clinical Pipelines

According to the President and CEO of the company, Mark W. Schwartz, Ph.D., the company is planning to advance the clinical programs, which have already expanded, into four assets in the past couple of years. He stated that Galena has an extremely strong clinical development pipeline that can target all the medical market needs, especially those that are unmet by any other player in the industry.

NeuVax from Galena Biopharma, Inc. (NASDAQ:GALE) leads the market and has the potential to open up high-value opportunities for the company. The latest strategy is to advance the clinical programs and explore additional indications related to the immune-oncology field. The policy ensures that Galena’s assets have better chances of providing a breakthrough in treating cancer or in tackling the fast growing population of cancer survivors.

The company aims to achieve it by empowering the immune system so that recurrence of the disease is prevented. All these strategic moves have been planned after careful examination of Galena’s assets and operations to ensure availability of greater growth opportunities.

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