As of Aug. 1, 2013, biopharmaceutical company Galena Biopharma was trading at a price of $2.09 – but analysts have predicted a target price of $5 for the company in the coming year.
In the view of analysts JMP Securities, the most important recent data to be reported by Galena comes from an analysis of Phase II trials, which support that immune responses to the company’s NeuVax drug were correlated with lower disease recurrence rates. The analysts believe this analysis offers further support for the mechanistic rationale of NeuVax, which is intended to target patients’ immune response to HER2-expressing breast cancer cells. The $5 target price has been derived through a sum-of-parts analysis, which includes the company’s NeuVax and Abstral products as well as a relative comparable company analysis.
Galena has also recently presented data from previously conducted NeuVax Phase I/II trials, which assessed levels of E75-specific T-cells induced by the NeuVax vaccine and compared these immunologic responses with disease recurrence. In 187 evaluable patients, the majority of recurrence events occurred in patients with lower absolute levels of NeuVax-specific T-cells or more modest increases in their NeuVax-specific T-cells. The analysts believe the finding that robust immunologic responses have a lower risk of recurrence supports the drug’s mechanism of action and JMP Securities’ confidence in the ongoing Phase III PRESENT trial.
Other information recently presented by Galena includes preliminary results from the company’s partner Leica Biosystems, which is developing a companion diagnostic to identify low-to-intermediate HER2-expressing breast cancer. This companion diagnostic is being evaluated in the PRESENT trial and is intended to more reliably identify HER2 1+ and 2+ patients, which is the target patient population for NeuVax.
Galena has additionally provided updates on the first portion of the Phase I/IIa clinical trial for the folate binding protein-directed vaccine FBP (E39), which has enrolled 20 patients so far. This trial has enrolled HLA-A2+ patients into the vaccine group while prospectively following HLA-A2- patients as the untreated control group. Recurrence rates thus far for patients treated with E39 have been 11.1%, compared with a 27.3% recurrence rate in the control group – representing a recurrence reduction of 59.3%. Galena stated that the drug has been well tolerated. Analysts note that the E39 program represents an upside to their current valuation assumptions.
A biopharmaceutical company based in Portland, Ore., Galena Biopharma is engaged in the development of innovative, targeted oncology treatments to address major unmet medical needs in the advancement of cancer care. For more information about Galena Biopharma, visit www.galenabiopharma.com.
Analysts Predict $5 Stock Price for Galena Biopharma, Inc. (GALE)
As of Aug. 1, 2013, biopharmaceutical company Galena Biopharma was trading at a price of $2.09 – but analysts have predicted a target price of $5 for the company in the coming year.
In the view of analysts JMP Securities, the most important recent data to be reported by Galena comes from an analysis of Phase II trials, which support that immune responses to the company’s NeuVax drug were correlated with lower disease recurrence rates. The analysts believe this analysis offers further support for the mechanistic rationale of NeuVax, which is intended to target patients’ immune response to HER2-expressing breast cancer cells. The $5 target price has been derived through a sum-of-parts analysis, which includes the company’s NeuVax and Abstral products as well as a relative comparable company analysis.
Galena has also recently presented data from previously conducted NeuVax Phase I/II trials, which assessed levels of E75-specific T-cells induced by the NeuVax vaccine and compared these immunologic responses with disease recurrence. In 187 evaluable patients, the majority of recurrence events occurred in patients with lower absolute levels of NeuVax-specific T-cells or more modest increases in their NeuVax-specific T-cells. The analysts believe the finding that robust immunologic responses have a lower risk of recurrence supports the drug’s mechanism of action and JMP Securities’ confidence in the ongoing Phase III PRESENT trial.
Other information recently presented by Galena includes preliminary results from the company’s partner Leica Biosystems, which is developing a companion diagnostic to identify low-to-intermediate HER2-expressing breast cancer. This companion diagnostic is being evaluated in the PRESENT trial and is intended to more reliably identify HER2 1+ and 2+ patients, which is the target patient population for NeuVax.
Galena has additionally provided updates on the first portion of the Phase I/IIa clinical trial for the folate binding protein-directed vaccine FBP (E39), which has enrolled 20 patients so far. This trial has enrolled HLA-A2+ patients into the vaccine group while prospectively following HLA-A2- patients as the untreated control group. Recurrence rates thus far for patients treated with E39 have been 11.1%, compared with a 27.3% recurrence rate in the control group – representing a recurrence reduction of 59.3%. Galena stated that the drug has been well tolerated. Analysts note that the E39 program represents an upside to their current valuation assumptions.
A biopharmaceutical company based in Portland, Ore., Galena Biopharma is engaged in the development of innovative, targeted oncology treatments to address major unmet medical needs in the advancement of cancer care. For more information about Galena Biopharma, visit www.galenabiopharma.com.
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