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SOURCE BrokerBank Securities, Inc.
NEW YORK, June 17, 2014 /PRNewswire/ -- According to GLOBOCAN 2012, breast cancer was the second most commonly diagnosed form of cancer in 2012 with 1.7 million new cases, and accounting for nearly 12% of all new cancer cases. Since the 2008 estimates, breast cancer incidence has increased by more than 20% while mortality has increased by 14%. With approximately 522,000 deaths in 2012, breast cancer is now the most common cause of cancer death among women.
Furthermore, it is reported that each year almost one million people are diagnosed with stomach cancer worldwide, while this form of cancer was the third leading cause of cancer death in 2012, accounting for about 8.8% of cancer deaths – roughly 700,000. In addition, according to the World Cancer Research Fund International, ovarian and endometrial cancers combined account for about 4% of all cancer cases worldwide with over 550,000 new cases reported in 2012.
Galena Biopharma, Inc. (NASDAQ: GALE), formerly RXi Pharmaceuticals Corporation, is a biopharmaceutical company focused on developing and commercializing oncology treatments. The company is pursuing the development of cancer therapeutics using peptide-based immunotherapy products that seek to prevent the recurrence of cancer in patients. Through their main product candidate – NeuVax (nelipepimut-S, or "E75") – the company intends to reduce the recurrence of breast cancer in low to intermediate HER2-positive breast cancer patients. The company is also testing NeuVax in combination with Herceptin (trastuzumab from Genentech/Roche) in node-positive and node-negative breast cancer patients, and separately for use in treating gastric (stomach) cancer as well.
Separately, the company is also developing GALE-301, or Folate Binding Protein (FBP), for the treatment of ovarian and endometrial cancers, and GALE-401 for the treatment of essential thrombocythemia (ET). Lastly, GALE's first commercial product launched in the fourth quarter of 2013 – Abstral (fentanyl) Sublingual Tablets – is approved by the FDA for the management of breakthrough cancer pain (BTcP) in patients with cancer who are already receiving, and who are tolerant to, opioid therapy for their persistent baseline cancer pain.
A full in-depth analyst report on GALE that includes company overview, product pipeline, market and competition breakdown, recent events, outlook, analyst summary, and recommendation can be viewed by using the following link at no cost:
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