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Galena Biopharma proposes public offering of common shares and warrants.

M2 EQUITYBITES-December 18, 2012-Galena Biopharma proposes public offering of common shares and warrants(C)2012 M2 COMMUNICATIONS

Biopharmaceutical company Galena Biopharma (NasdaqCM :GALE) said on Monday that it plans to offer shares of its common stock and warrants to purchase shares of its common stock in an underwritten public offering.

Net proceeds from the offering are expected to be used by the company to conduct its ongoing Phase 3 clinical trial for NeuVax, its Phase 1/2 clinical trial for Folate Binding Protein-E39 (FBP), the planned Phase 2 clinical trial for NeuVax in combination with trastuzumab (Herceptin) and for general corporate purposes.

Subject to market and other conditions, there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Piper Jaffray & Co is acting as the sole book-running manager for the offering.

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Publication:M2 EquityBites (EQB)
Date:Dec 18, 2012
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