Galena Biopharma Announces Proposed Public Offering of Common Stock and Warrants
March 12 2015 - 4:01PM
Galena Biopharma, Inc. (Nasdaq:GALE), a biopharmaceutical company
developing and commercializing innovative, targeted oncology
therapeutics that address major medical needs across the full
spectrum of cancer care, today announced it intends to offer shares
of its common stock and warrants to purchase its common stock in an
underwritten public offering. The shares of common stock and
warrants to purchase common stock are being offered as units. The
shares of common stock and warrants are immediately separable and
will be issued separately. Raymond James will act as sole
book-running manager for the offering.
The company intends to use the net proceeds from this offering
to fund our operations, including the ongoing commercialization of
Abstral® (fentanyl) Sublingual Tablets and Zuplenz® (ondansetron)
Oral Soluble Film, our ongoing Phase 3 PRESENT study and other
clinical trials of our product candidates, and for other working
capital and general corporate purposes.
The securities described above are being offered by the company
pursuant to a shelf registration statement on Form S-3 previously
filed with and declared effective by the Securities and Exchange
Commission (SEC). A preliminary prospectus supplement related
to the offering has been filed with the SEC. Electronic copies
of the preliminary prospectus supplement may be obtained from
Raymond James, Attention: Equity Syndicate, 880 Carillon Parkway,
St. Petersburg, Florida, or by telephone at (800) 248-8863, or
e-mail at prospectus@raymondjames.com, or by accessing the SEC's
website at www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities described herein,
nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About Galena Biopharma
Galena Biopharma, Inc. (Nasdaq:GALE) is a biopharmaceutical
company developing and commercializing innovative, targeted
oncology therapeutics that address major medical needs across the
full spectrum of cancer care. Galena's development
portfolio ranges from mid- to late-stage clinical assets, including
a robust immunotherapy program led by NeuVax™ (nelipepimut-S)
currently in an international, Phase 3 clinical trial. The
Company's commercial drugs include Abstral® (fentanyl) Sublingual
Tablets and Zuplenz® (ondansetron) Oral Soluble Film. Collectively,
Galena's clinical and commercial strategy focuses on identifying
and advancing therapeutic opportunities to improve cancer
care, from direct treatment of the disease to the reduction of
its debilitating side-effects. For more information,
visit www.galenabiopharma.com.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, including statements regarding the proposed public offering
and the intended use of proceeds from the offering. The
offering is subject to market and other conditions, and there can
be no assurance as to whether or when the offering may be completed
or as to the actual size or terms of the offering. These
forward-looking statements also are subject to risks, uncertainties
and assumptions relating to the commercialization and development
of the company's products and product candidates, including those
detailed from time to time in the company's filings with the SEC,
and represent the company's views only as of the date they are made
and should not be relied upon as representing the company's views
as of any subsequent date. The company's actual results may
differ materially from those contemplated by these forward-looking
statements. The company does not undertake to update any of
these forward-looking statements to reflect a change in its views
or events or circumstances that occur after the date of this press
release.
Abstral is a trademark of Galena Biopharma, Inc. All other
trademarks are the property of their respective owners.
CONTACT: Remy Bernarda
SVP, Investor Relations & Corporate Communications
(503) 405-8258
rbernarda@galenabiopharma.com
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