Galena price target raised to $9 from $6 at Maxim Maxim raised its price target for Galena shares to $9 citing increased confidence in the development pipeline after the company said it started enrollment of a phase II trial for its second anti-cancer agent GALE-301. The firm reiterates a Buy rating on the stock.
Galena receives notice of allowance of improvement patent for NeuVax in Japan Galena Biopharma announced the notice of allowance from the Japanese Patent Office for NeuVax covering the use of NeuVax alone or in combination with other agents to prevent recurrence of any HER2/neu expressing breast cancer tumor having an immunohistochemistry level of 1+ or 2+, or a fluorescence in situ hybridization rating of less than about 2.0. NeuVax is a peptide immunotherapy for the prevention of cancer recurrence and is Galena's lead development agent in multiple ongoing and planned clinical trials. Once issued, the patent will expire in 2027, not including any patent term extensions.