Short Interest Update on Galena Biopharma (GALE)

Galena Biopharma (GALE) : The short interest in Galena Biopharma (GALE) has increased from 17,513,820 to 17,720,919 from Jul 29, 2016, to August 15, 2016, indicating that the traders are bearish on the stock. On an average, 4,102,554 shares are traded daily in the stock and only 4 days are left for the shorts to cover. The short open interest is 8.4% of the total shares in the hands of the public. The shorts in the stock have gone up by 207,099 shares, which is an increase of 1.2% over the previous reading. The short interest information was released on Wednesday Aug 24th after the market close.

Galena Biopharma (NASDAQ:GALE): The stock opened at $0.45 on Wednesday but the bulls could not build on the opening and the stock topped out at $0.45 for the day. The stock traded down to $0.41 during the day, due to lack of any buying support eventually closed down at $0.42 with a loss of -5.80% for the day. The stock had closed at $0.45 on the previous day. The total traded volume was 3,964,166 shares.


In a related news, Dunlap Ryan, officer (Former Chief Financial Officer) of Galena Biopharma, Inc., unloaded 126,875 shares at an average price of $2.18 on June 1, 2016. The total amount of the transaction was worth $276,588, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.

Galena Biopharma, Inc. is a biopharmaceutical company. The Company is focused on developing and commercializing targeted oncology therapeutics. Its development portfolio ranges from mid- to late-stage clinical assets, including immunotherapy program led by its lead product NeuVax (nelipepimut-S), which is in Phase III clinical trial and is a targeted cancer immunotherapy. NeuVax is the immunodominant nonapeptide derived from the extracellular domain of the HER2 protein, a target for therapeutic intervention in breast and gastric carcinomas. GALE-301 is an immunogenic peptide and can stimulate cytotoxic T lymphocytes to recognize and destroy Folate Binding Protein-expressing cancer cells. GALE-401 is a controlled release formulation of anagrelide. Its commercial drug, Abstral (fentanyl) Sublingual Tablets is a treatment option for inadequately controlled breakthrough cancer pain.

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