Galena BioPharma, Inc.

Lake Oswego, OR United States

  (NASDAQ: GALE)

Company Description

While there's no vaccine for breast cancer, Galena Biopharma has big plans for NeuVax, its drug candidate. NeuVax, which is in Phase III clinical trials, is being tested for its efficacy in reducing the recurrence of breast cancer in patients who can't take Genentech's Herceptin. Galena Biopharma acquired the rights to NeuVax when it bought the drug's developer, Arizona-based Apthera, Inc., for about $7 million in April 2011. Galena itself was spun off from RXi Pharmaceuticals in a one-for-one stock split in March 2012. Galena, having more potential for success with NeuVax, became the public company while RXi Pharmaceuticals became a private company focused on developing RNA interference (RNAi) therapies.