Galena Biopharma Announces Proposed Public Offering of Common Stock and Warrants
January 06 2016 - 4:26PM
Galena Biopharma, Inc. (NASDAQ:GALE), a biopharmaceutical company
committed to the development and commercialization of targeted
oncology therapeutics that address major medical needs, 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 will be immediately separable and issued separately.
Raymond James & Associates, Inc. will act as sole book-running
manager for the offering.
The company intends to use the net proceeds from this offering
to fund its ongoing Phase 3 PRESENT study and other clinical
trials of its product candidates, and to augment its working
capital and for general corporate purposes.
The securities described above are being offered by the company
pursuant to a shelf registration statement on Form S‑3, as
amended, 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 & Associates, Inc., 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 the 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, Inc.
Galena Biopharma, Inc. is a biopharmaceutical company committed
to the development and commercialization of targeted oncology
therapeutics that address major unmet medical needs. Galena’s
development portfolio is focused primarily on addressing the
rapidly growing patient populations of cancer survivors by
harnessing the power of the immune system to prevent cancer
recurrence. The company’s pipeline consists of multiple
mid-to-late-stage clinical assets, including novel cancer
immunotherapy programs led by NeuVax™ (nelipepimut-S) and GALE-301.
NeuVax is currently in a pivotal, Phase 3 clinical trial in breast
cancer with several concurrent Phase 2 trials ongoing both as a
single agent and in combination with other therapies. GALE-301 is
in a Phase 2a clinical trial in ovarian and endometrial cancers and
in a Phase 1b given sequentially with GALE-302. 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 will 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 future expectations, plans and
prospects for the development and commercialization of the
company's product candidates, including patient enrollment in our
clinical trials, present or future licensing, collaborative or
financing arrangements, expected outcomes with regulatory agencies,
and projected market opportunities for 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.
NeuVax is a trademark of Galena Biopharma, Inc.
Contact:
Remy Bernarda
SVP, Investor Relations & Corporate Communications
(925) 498-7709
ir@galenabiopharma.com
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