Dallas, Texas 03/03/2014 (FINANCIALSTRENDS) – Galena Biopharma Inc(NASDAQ:GALE) is one of the lead stocks which has seen high winds in the recent weeks. As of last week’s trading the GALE saw gains in the region of 10%. In the previous weeks the company has been in the midst of ‘branded’ stock promotion by DreamTeamGroup. CEO of GALE, Mark Ahn, has dismissed the stock promotion allegations made by Adam Feuerstein in his article.
Stock promotion allegations
Galena Biopharma Inc(NASDAQ:GALE) CEO in a public response to the allegations, stated that the article was a tabloid-like attempt where the only accurate information was the sale of shares held by the company. The response led a rally, with the number of GALE shares exchanged on the trade floor multiplying to 40 Million shares. It was fond to nearly four times higher than average trades the company sold. In the mid-week of February, the company has increased in share volumes.
Galena Biopharma Inc(NASDAQ:GALE) has been facing some tough times on the stock market today as there are two articles written by the same person, which Feuerstein picked to demonstrate that there was subverted promotions by GALE. The stocks of the bio-pharma, following the stylized reported plunged and received some major pull-back through the trading session. The allegation was that the individual or the write-up indicated ‘nonstandard’ promotion of stock schemes.
Galena Biopharma Inc(NASDAQ:GALE) is the biotechnology company that has been engaged in long term innovative therapies which are aimed at developing medical needs which will provide relief to patients suffering from several types of biotherapeutics. Targeted biotherapeutics is the line of operations for GALE.
Galena Biopharma Inc(NASDAQ:GALE) has a well-developed list of products which includes NeuVax TM, a breast cancer treatment. NeuVax has been in recent news, following the patent approval it has reached in Australia, to sell into 2028.