Shares of Galena Biopharma (GALE) Trade Up on Collaboration With Genentech/Roche & The Henry M. Jackson Foundation
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Galena Biopharma (Nasdaq: GALE) today announced a clinical development collaboration with Genentech/Roche and The Henry M. Jackson Foundation for the Advancement of Military Medicine to develop NeuVax in combination with Herceptin (trastuzumab; Genentech/Roche) in adjuvant breast cancer patients currently not eligible for Herceptin therapy.
Under the terms of the collaboration, Genentech and Galena will sponsor a randomized, blinded multicenter Phase 2 clinical study in adjuvant breast cancer in approximately 300 patients, scheduled to be initiated in the first half of 2012. Clinical studies presented by Galena Biopharma at the American Society of Clinical Oncology meeting in June 2011 demonstrated promising results of NeuVax in combination with Herceptin in preventing breast cancer recurrences.
Shares of GALE closed down 8.9 percent on Friday to $0.51 and are trading up roughly 40 percent to $0.71 in the pre-market hours of trading on Monday November 28.
Under the terms of the collaboration, Genentech and Galena will sponsor a randomized, blinded multicenter Phase 2 clinical study in adjuvant breast cancer in approximately 300 patients, scheduled to be initiated in the first half of 2012. Clinical studies presented by Galena Biopharma at the American Society of Clinical Oncology meeting in June 2011 demonstrated promising results of NeuVax in combination with Herceptin in preventing breast cancer recurrences.
Shares of GALE closed down 8.9 percent on Friday to $0.51 and are trading up roughly 40 percent to $0.71 in the pre-market hours of trading on Monday November 28.
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