Boston, MA 06/17/2014 (wallstreetpr) – Galena Biopharma Inc (NASDAQ:GALE) has today issued an important update about its experimental ovarian and endometrial cancer treatment.
In a press release, the company announced the completion of enrollment for the Phase 2a clinical trial of the drug, which is currently known as GALE-301. It said the Phase 2a trial will focus on the immune response, time to recurrence and the overall survival using the treatment. Some 45 patients have been enrolled in the study.
According to the company, the study will involve initial induction of a series of vaccinations that will be given once per month. Thereafter, patients will be given booster inculcations in two intervals of six months.
Compelling Phase 1 trial results
Galena Biopharma Inc (NASDAQ:GALE) expects no negative surprises in the trials of GALE-301 because of the level of success noted in the Phase 1 study of the treatment. According to Mark J. Ahn, President and CEO of Galena, the Phase 1 trial produced encouraging results on which the company bases its hopes for the eventual success of the drug in the future studies. He called the enrollment of Phase 2a trial ahead of schedule “an important milestone for Galena.”
The company expects data on the announced trial in mid-2015.
Shares of the company are high in the current session on the positive news. The shares are down more than 37 percent this year.
Combating cancer
Galena Biopharma Inc (NASDAQ:GALE) is among the several drug companies that working on treatments related to ovarian cancer. The type of cancer is not only dangerous but has a big unmet medical need around the world.
SEC looking into GALE stock practice
As Galena takes its experimental drug for ovarian cancer through clinical investigation, the company is itself a subject of investigations by the U.S. Securities Exchange Commission. The regulator is looking into a stock-promotion scandal that has smeared the company whereby Galena Biopharma Inc (NASDAQ:GALE) is accused of paying investor relations firm known as DreamTeam Group to run stock-promotion campaigns. The alleged promotion scandal involved publishing of articles under false names.
