Galena SEC investigation should not affect value of assets, says Maxim Maxim sees the worst case scenario from the SEC's investigation into Galena's stock promotion practices as the agency finding some liability with management. The firm says such an outcome should not materially affect the value of the company's underlying assets and it keeps a Buy rating on the stock with an $11 price target.
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.