You have to remember bro that this is a clinical-stage pharmaceutical company. There are no approved products and no steady incoming revenue (besides the partnership/licensing revenue - which is not constant, varies on clinical trials, results, milestones, etc).
The entire executive team here is only pulling in between 260-475k each. Sure this is a nice amount compared to your typical worker at Target, Home Depot clerk or bank teller. This is however not a huge amount for a company that, like any other pharma/biotech out there, has the possibility in slow down or cure cancer.
It's best to have their options elevated to ensure they are performing atop of their game. At the same time, by not paying themselves $1/million annual in base salary, they aren't blowing the shareholders money (cash burn rate) or risk diluting the stock by issuing additional shares.
I'm in complete agreement with their current compensation salary/options package. You should as well because it's by all means, very, very moderate.
Also confirmed on NASD, Yahoo and Scottrade.
Very small volume though, but why would anymore pay $5.74 AH when it closed at $5.53.
The 8200 @ $5.40 was a regular day print trade so disregard this AH trade.
If you keep wandering, perhaps you might want to find yourself, then sell your investment holdings.
Stop wandering my friend.
I'm simply wondering why you're wandering.
The $5 or less trade for large fund companies sounds meaningful, sounds like it should be made a legitimate concrete rule, but in my experience in the financial trading sector, it's largely false.
Some firms might actually have this internal rule, no holding stocks under $5, but my friend it's 96% false.
Please do not believe everything you read.
Word - Honestly, sad but true right? Your response pretty much nailed what doesn't actually make sense at the Federal/FDA level.
It's quite ironic how medications main goal is to help people with their ailments and real health issues, also kills and injures others and becomes a new problem (ie - ibuprofen, hydrocodone, oxycontin, MDMA (diet drug which become the highly illegal ecstasy).
Two-thumbs up for your response!!
So another words, you think due to wildcatting on behalf of the FDA, that anything might be possible, even with Galena? I agree to disagree (was prior investor in GALE - so I did have prior faith).
I'm looking more at Merrimack Pharma (MACK) and immunotherapy now (Roche, Pfizer, Inovio or Oncosec). Electroporation and training one's own body to heal itself from cancer, illness, benign/metastatic tumors is the real future. The fun and challenging aspect is finding who can successfully fulfill that goal. The jury is still out....
Besides the obvious risks, I have nothing personally against GALE. I wish them success because at the end of the day, it's all about the patients and goal of living a longer, cancer-free life. Even if Galena fails P3, I still give them much effort for attempting to stop/slow down this disease.
Omontys helped patients too, but look at Affymax today. From $36 to 80 cents in about 15 months.
I used to be a shareholder but I sold out maybe 6-9/months ago. I'm simply watching from the sidelines to determine if my investment strategy to sell was correct or not.
The drug had poor results before which led to the demise (bankruptcy) of Apthera.
I'm simply stating there are huge risks associates with Galena. Even putting behind the shady practices of RXI, Steven Kriegsman, etc. Risks here are serious.
Higher risks do lead to higher rewards but at the same time as a brilliant man once said, you could put lipstick on a pig...but it's still a pig.
Everyone read that line?
PSA recurrence was not different between the treatment (28%) and control (26%) groups.
This is from the Neuvax trial from bankrupt Apthera.
Data mining at it's finest. Thanks Galena.
About the Clinical Study
40 HER2-positive prostate cancer patients at high risk for recurrence were prospectively identified using the validated Center for Prostate Disease Research (CPDR)/CaPSURE high-risk equation and enrolled in the trial. Patients were allocated to two arms; 21 treated and 19 followed as clinical controls. Patients in the treatment arm received escalating dose-levels of NeuVax and all patients were evaluated for clinico-pathologic factors, PSA recurrence ( 0.2 ng/ml), clinical recurrence and survival.
Patients were assigned to treatment or control group based on HLA haplotype. The median follow-up was 58.2 months. PSA recurrence was not different between the treatment (28%) and control (26%) groups. A retrospective analysis showed that at enrollment the treatment group in fact had larger tumors ( T3b-T3c: 35% vs. 18%), higher postop Gleason scores (8-9: 33% vs. 26%), more positive tumor margins (71% vs. 53%), and higher HER2/neu expression (IHC 3+: 35% vs. 19%). Of note, only 20% of the treated patients in this early trial received what is now considered the optimal dose of NeuVax, and none received a booster inoculation which has been shown subsequently to be beneficial.
I'm not a shareholder anymore but I am however watching the story unfold (longs versus shorts). The insiders heading for the exits is alarming however you should more be concerned about Galena's data mining skills. Simply said Galena has been preaching that their data shows 100% ability to fight cancer, however this is not entirely true. They data-mined the data to show what effectively worked and that's what they decided to pursue with the Phase 3 trial testing.
In essence, their pre-clinical, phase 1 or phase 2 trials were at best, moderate-to-ok, however they proceed to advance Neuvax after their selected only a select meaningful (or maybe even not meaningful at all) data points. This is like similar to having a monkey throwing a dart and investing in the stock that the money hits on the board. During good times, the money might be right, but during bad times or times of drug failures, the monkey might lose 60-80%.
I'm more concerned with the data mining factor and how management continues to preach that Neuvax is 100% effective, but when you look at the entire data point picture, it's nowhere near 100%. They do continue to preach the 100% number which is quite worrisome.
Hopefully Neuvax works this time around because it failed (and failed VERY BADLY) before (see below):
Apthera, the company Galena acquired to gain ownership of NeuVax, presented at the 2010 ASCO conference a poster titled, Clinical efficacy of the E75 peptide vaccine: Cumulative findings of phase I/II trials. It clearly states that the Phase I/II study that was designed to see if NeuVax in combination with Herceptin would benefit breast cancer recurrence (i.e. delay recurrence) failed to show a meaningful benefit.
Galena picked up the chemical compound for a mere $2 million cash.
Billy Joel also said turn out the lights and don't try to save me (referring to Apthera I'm guessing).
96% of Phase-3 trials also fail or never get the FDA approval blessing as well.
Your numbers might be on pair, but so is the 96% failure rate.
I'm not sure if anyone else caught this, but Mark Ahn clearly stated that there was a one-in-a-lifetime blowout sale on new home construction in Oregon and every executive figured it was now or never to have the house built and paid in full (before their GALE holdings go back to 50 cents a share again).
It clearly had to be this reason because someone earlier said they seen the executive team removing files and boxes from Galena's Oregon offices this evening.
I know they all bought real estate, I just knot it.
This is the $13-$14 million dollar question as insiders bailed nearly entirely out of about 2.6-2.8 million shares at an average sales price of $5.41.
Nobody (long/short) has an answer to be honest. Time will tell though.
Like I stated earlier, they already painted the picture (by selling their shares), now the reasons why over the coming months (be it lowered Abstral numbers, be it NeuVax data is in hands (and will likely failed), maybe their will withdraw the NeuVax NDA (because they know the data), maybe their mined the data to their advantage or maybe there was a blowout sale on new home construction in Oregon and every executive figured it was now or never to have the house built and paid in full (before their GALE holdings go back to 50 cents a share again).
My guess is the real estate sale in Oregon.
Just like the titantic my friend, some people actually like to do down with the ship...
Maybe some longs feel its still worth the risk/reward, but rest assured I wouldn't trust this company one bit after the magnitude of insiders selling anywhere from 89-100% of their positions between 1/1/2014 and today.
Something is clearly wrong with the picture. That's all I have to say.
Ahn and Chin sold 90% or more of their ENTIRE holdings too.
They painted it, now shareholders can have fun watching the paint dry.
He covered a short you moron. He only owns 3500/shares.
If he bought 20,000 shares how does he only own 3500.
Investors who lost money and sold their position since $7.77 should make a phone call.
They are simply attempting to get your money back.