The
end of a year inherently triggers a mental account of the good and bad
accumulated in the last 365 days. For investors taking inventory of their
investment portfolio, that closure is either one slammed shut with a grimace or
one gently closed with a sense of pride. As Seeking Alpha contributor Brian
Nichols discusses in a recent article, investors that held onto shares of
Galena Biopharma no doubt filed this stock among 2013’s favored.
Galena
has been a top performer for the last two years, writes Nichols, taking a look
at the stock’s track record and raising the question as to whether or not the
stock has reached its fair value and if more upside is to come.
To
read the full article visit http://seekingalpha.com/article/1907601
“2012
was a transformational year for Galena Biopharma: It was this year that Galena
went from unknown to one of the year’s best performers.”
Galena
soared 300 percent from the 12 months between Christmas of 2011 and 2012,
fueled by the company’s announcement on January 5, 2012, that it received
investigational new drug approval for the phase 2 trial of its breast cancer
drug, NeuVax, in combination with Roche’s Herceptin.
Nichols
recaps several other considerable events that took place over the course of the
year that contributed to a hearty close for 2012.
In
2013, the company grew even stronger.
“After
2012, not many dreamt that 2013 or the following Christmas-to-Christmas period
could be as good – or better. However, Galena has soared more than 150% in that
period, driven by a number of new catalysts that no one saw coming.”
Galena
has rallied more than 100 percent in the last three months, greatly influenced
by the company’s acquisition of Abstral® for the treatment of breakthrough
cancer pain.
In
March 2013, Galena acquired Abstral, which generated sales of $54 million in
2012, representing growth of 40 percent. When Galena officially launched
Abstral in the fourth quarter, the drug had already earned $1.2 million for the
previous quarter, putting the company on pace to achieve its goal of $2 million
in annual sales.
Nichols
again recaps contributing factors that contributed to these gains.
Looking
ahead to 2014, Nichols points to suggestive events, such as Galena’s ongoing
phase 3 trial, that have the potential to generate more gains.
In
conclusion, Nichols writes, “As with the Teva partnership and the data itself
in 2012 or the Abstral acquisition in 2013, there will likely be a catalyst
that we don’t see coming. Yet based on those catalysts we can predict and
expect 2014 might be setting up to be Galena’s best and most transformational
year to-date.”
For
more information, visit www.galenabiopharma.com
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