1.Pnny stock newsletters promoting GALE doesn’t mean they were being paid. These newsletters are notorious for picking high moving stocks alongside whatever they are promoting to gain legitimacy. It’s part of their mode of operation and doesn’t mean GALE was involved.
2.Cytrx and RXII connections are all things from past with a different company and more importantly a different CEO. Cytrx has no ownership of Gale, so any connections are nothing more than farfetched concoctions.
3.Yes, there is a registration statement (shelf registration) but that has been on for quite some time. In current market environment, every biotech company is trying to raise money. However, that by itself is not a bad thing as it would take the financing risk out of this story. If you look at the list of secondary offerings this year, a number of companies that have raised money this year have appreciated significantly since then.
4.What Morhamus seems to be missing here is the value of phase III pivotal trial in progress for a major disease with unmet medical need. Should it work, this could be a great opportunity. If it fails, it all goes to zero. However, one should be aware of the timelines involved in phase III before data comes out (3-4 years) and capital that would be required to get there ($50 million plus). Back in January, with a market cap under $25 million, Gale was a screaming undervalued play and stock has appreciated, rightly so, since then. More kudos for people who brought attention to this stock back then.
5.Articles like this hack piece here should be written more responsibly and with more substance as anyone can scream “Fire” in a theatre and cause panic, which this article seems to have done.
Puleeeeeeese! You think one article by an obscure author in a sketchy at best small cap newsletter can have ANY effect whatsoever. like the MBs . . . it's just entertainment! It's the Technicals stupid!
This company was not re-invented it was a reverse merger to enter market --NUEVAX Galena was simply ready to come to market and used common procedure to gain entry quickly and has nothing to do with CYTR or RXII so from the first paragraph it is obvious you have no knowledge of the company. This is no different than an IPO
Folks, the author of this article says he has no positions in GALE nor does he plan on establishing any within the next 72 hours. I believe he is telling the truth. However I also believe he just may have advised his clients to short GALE and then he writes his damning article filled with falsehoods and it worked, his clients made a butt load of money and of course he was paid handsomely for his anylitical skills. If you read Mr. Morhamus's profile you will find the following:
"My firm provides investment products and solutions for institutions and individual investors. I take particular attention to small and mid-cap companies in emerging markets. I like to research and trade good ideas; both long and short; with other experienced traders."