Galena Biopharma (GALE) Seeks Shareholder Approval for Reverse Stock Split

September 19, 2016 5:06 PM EDT

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In its preliminary proxy, Galena Biopharma (NASDAQ: GALE) said it will seek shareholder approval to effect a reverse stock split of the outstanding shares of the Company’s common stock, par value $0.0001 per share, at a ratio of not less than 1 for 2 and not greater than 1 for 20, with the exact ratio and effective time of the reverse stock split to be determined by the Board of Directors and publicly announced by press release.

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