Why This $4.50 Stock Has Doubled Since Oct. 1
Shares of Galena Biopharma Inc. (Nasdaq: GALE) rose as much as 5% yesterday, meaning the biotech stock has risen more than 100% since we recommended back on April 12.
That makes Galena the 17th stock to double or better since we launched Private Briefing in August 2011 (see list below). In fact, the stock is up more than 100% since we re-recommended it back on Oct. 1.
We were originally drawn to Galena because of its intriguing storehouse of technology.
The company has some really interesting anti-cancer candidates – most notably NeuVaxâ„˘ (nelipepimut-S), the vaccine that’s already in late-stage (Phase III) trials for HER2-targeted breast cancer. Galena is also working on something it calls its Folate Binding Protein (FBP) peptide vaccine, intended to prevent the recurrence of ovarian, endometrial, and breast cancers. The company recently announced that FBP recently demonstrated evidence of being safe and immunogenic.
But it’s a much-more-straightforward drug – a pain medication called Abstral – that is most likely the catalyst behind the share-price surge Galena has seen since the start of October…