Galena Biopharma Corrects Error in Form 10-K
March 11 2016 - 1:57PM
Galena Biopharma, Inc. (NASDAQ:GALE), a biopharmaceutical company
committed to the development and commercialization of targeted
oncology therapeutics that address major unmet medical needs, today
announced the Company had a typographical error in its Form 10-K
filed with the SEC on March 10, 2016 regarding a governmental
investigation by the U.S. Attorney’s Office for the Southern
District of Alabama.
The Risk Factor in the filing states the following:
A federal investigation of two of the high-prescribing
physicians for Abstral has resulted in the criminal prosecution of
the two physicians for alleged violations of the federal False
Claims Act and other federal statutes. The criminal trial is set
for some time in 2016. We have received a trial subpoena for
documents in connection with that investigation and we have been in
contact with the U.S. Attorney’s Office for the Southern District
of Alabama, which is handling the criminal trial, and are
cooperating in the production of documents.
The risk factor then incorrectly stated that Galena is a target
or subject of that investigation. Galena is NOT a target or subject
of that investigation, but is fully cooperating with the
authorities on the matter.
The Company will file an amended 10-K/A to reflect this
change.
About Galena Biopharma
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 breast cancer clinical trial
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. Such statements include, but are not limited to,
statements about the progress of the development of Galena’s
product candidates, patient enrollment in our clinical trials, as
well as other statements related to the progress and timing of our
development activities, present or future licensing, collaborative
or financing arrangements, expected outcomes with regulatory
agencies, and projected market opportunities for product candidates
or that otherwise relate to future periods. These forward-looking
statements are subject to a number of risks, uncertainties and
assumptions, including those identified under “Risk Factors” in
Galena’s Annual Report on Form 10-K for the year ended December 31,
2015 and most recent Quarterly Reports on Form 10-Q filed with the
SEC. Actual results may differ materially from those contemplated
by these forward-looking statements. Galena 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.
Remy Bernarda
SVP, Investor Relations & Corporate Communications
(925) 498-7709
ir@galenabiopharma.com
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