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Micro-Cap in News; Galena Biopharma Inc. (GALE)

By Warren Paige

Shares of Galena Biopharma Inc. (NASDAQ: GALE), a biotechnology company engaged in the discovery, development and commercialization of therapies addressing unmet medical needs using targeted biotherapeutics, are soaring in trading today.

At last check, GALE shares were trading 15.32% higher at $1.97 on above average volume of 20.70 million. The stock touched an intra-day high of $2.30. It has now gained more than 20% in the last three trading sessions.

GALE shares are soaring today after the company announced the issuance of a key patent from the U.S. Patent and Trademark Office (USPTO). The patent, originally allowed in March 2012, covers the use of GALE’s product candidate, NeuVax™.

Mark J. Ann, Ph. D., President and CEO of Galena Biopharma, said that as GALE continues to make progress with the clinical development of NeuVax, issuance of the patent from the USPTO underscores the company’s commitment to support and advance its proprietary oncology pipeline.

 

July 18th, 2012 | Tags: | Category: Hot MicroCaps

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All stories in DailyStocks.com are for informational purposes only. This is NOT a stock recommendation. This DailyStocks.com story is a daily light analysis featuring a stock with insider buying. With some caveats, insiders purchase a stock because they think the stock is going up. There are other factors to consider such as size of the transaction relative to their compensation and net worth. Sometimes, insiders might be propping a stock price up for future financing. Sometimes, the amount of insider buying are misread or misreported. Each month, DailyStocks releases a a summary of the stocks with insider buying. Sign up for the free monthly newsletter at DailyStocks.com . About Dailystocks.com: DailyStocks.com is the place where you can find stories about stocks with insider buying, where you can educate yourself about stock market investing, and where you can perform the stock search engine analysis – you enter a stock symbol, and you get a resulting page of stock ticker indexed links so that you do not have to type the stock symbol each time.