Roth Capital Remains Positive on Galena Biopharma (GALE) Following Zuplenz Launch

Roth Capital affirms its Buy rating and $8 price target on Galena Biopharma (Nasdaq: GALE) after the company announced the product launch for Zuplenz (ondansetron) Oral Soluble Film in the United States.

Analyst Richard Pantginis commented, We expect a modest contribution to revenue from Zuplenz upon launch. We base this from tracking previous Zuplenz sales and we expect the launch to be followed by gradual uptake supported by strong marketing efforts on GALE's part.

Recall that the company stated it will not use the voucher program which accompanied Abstral's launch but instead will use a co-pay assistance program and physicians samples. From tracking Abstral sales, we continue to see volatility, which is reflected in Galena's quarterly reports. We reiterate our investment thesis stating that investors should focus on pipeline clinical developments and view Abstral and Zuplenz revenue as cash flow to support ongoing R&D efforts to advance GALE's clinical assets. Our valuation puts the biggest emphasis on GALE's clinical stage assets, particularly NeuVax.

For an analyst ratings summary and ratings history on Galena Biopharma click here. For more ratings news on Galena Biopharma click here.

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