Roth Affirms Galena Biopharma (GALE) at 'Buy' Following Q4 Report; Still Sees FY15/FY16 as Busy Time Frame

Roth Capital reiterates its Buy rating and $8 price target on Galena Biopharma (Nasdaq: GALE) following Q4, FY14 results reported Thursday night.

Analyst Joseph Pantginis noted that Galena's FY14 revenue of $9.32 million and loss of $0.31 per share compare with the firm's outlook calling for revenue of $8.5 million and loss of $0.35 per share.

Pantginis offered the following post-report commentary: 2015 represents a busy year for Galena with multiple catalysts: 1) launch of Zuplenz in 2Q15, 2) complete enrollment in PRESENT by end of 1Q15 and interim safety/futility analysis in 4Q15/1Q16, 3) topline data from PhIIa of '301 in ovarian and endometrial carcinomas in mid 2015 and final data in 4Q15/1Q16, 4) topline data from PhII of '401 in thrombocythemia, secondary to myeloproliferative neoplasms in mid-2015 and final data in 4Q15/1Q16, 5) complete enrollment in PhII study of NeuVax+Herceptin in HER2 1+/2+ breast cancer in 4Q15/1Q16, 6) initiation of the Indian gastric cancer study of NeuVax by partner Dr. Reddy's laboratories (RDY-NC) in 2016. We remain optimistic regarding NeuVax's potential efficacy in HER2 1+/2+ breast cancer, particularly given the high incidence of HER2-specific T cells recruited amounting to 2% of the T-cell compartment, which is a robust immune response. This is particularly desirable given that the aim is to prevent recurrence of the disease by eliminating micro-metastases that are the source of disease recurrence. We believe that 2015 and 2016 represent an important transional period where investor focus will shift from Abstral and Zuplenz to Galena's advanced pipeline as clinical data is released.

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

Galena Biopharma closed at $2.00 yesterday.

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