27M cash at the end of Q1 ($11M) suit settlement and abstral payables ($6M) loss for Q2 -------- $10M cash on June 30th
How long will that last? How much will be needed to settle the class action suits?
"On January 18, 2017, we received an inquiry from NASDAQ Listing Qualifications Department seeking information in connection with the subpoenas issued to the Company by the US Attorney’s Office for the District of New Jersey and the U.S. Attorney’s Office for the Southern District of Alabama. We responded to the inquiry on February 1, 2017 and March 31, 2017. We have not received any follow-up inquiries from NASDAQ. If we are not in compliance with the listing requirements under NASDAQ Listing Rule 5502(a)(2), we could be delisted by NASDAQ."
When is the DELISTING party?
Markets UP and GALEdung DOWN. BwaHaHaaaaaaaaa James2tx, you really know how to pick'em. You found the dungiest pos - DOWN over 99&%!!!!!!!!
James2tx Gale Jim Henry Earl Stephen MoneyLoser and his other dozen aliases is the same LOSER, LIAR, and SCAMMER. No denials that he is a dumb buttt and always wrong - pumping to rip off moms and pops since $155.00. If there a SEC rule for posting lies, the scammer would doing time in prison already.
Step right up!!! Who wants to buy 35 cents shares for 55 cents? Cayman has 9,000,000 shares for you. Don't be shy - buy!
"The Company is evaluating the appropriate time to commence enrollment of the GALE-401 trial and anticipates making a definitive determination in the second half of 2017."
What are they waiting for? The trial will never get started! GALE-401 was part of the con. It's doubtful that it could ever get approved. Even if approved, GALE-401 couldn't compete with the low cost generics for the tiny market. Ghigli is dilly dallying, trying to decide whether to continue the elaborate ruse and waste money on a foolish trial or put it on moth balls. I suspect that he will go with the latter.
Institutions and insiders bailed and left morons like James2tx/Gale holding their overpriced bags.
Can you name one biotech that spends more on G & A than R & D?
For Q1: R & D = $2.4M G & A = $2.7M The priority at Galena is filling managements' pockets, not developing drugs.
All the cash will vanish and Ghigli will close up shop.
Insiders ( Ghiglieri, Knapp, Burns, Nejadnik, Schwartz, Chin, Einhorn, Galiker, Hillsberg, Ashton, Kriegsman, Nisi, Gray) own 124,711 shares. That's less than an average of 10K shares each. Doesn't the janitor hold more shares? 124,711 owned by insiders / 46,567,392 shares outstanding = .002678 = about 1/4 of 1%.
No faith in the stock ever recovering.
"We are not currently eligible to use a short-form Form S-3 registration due to our failure to timely file multiple current reports on Form 8‑K relating to our unregistered sales of equity securities under the Debenture, which we resolved by the filing of an 8-K on May 2, 2017. As a result, our principal executive and principal financial officer has concluded that we did not have effective disclosure controls and procedures as of March 31, 2017. Management intends to work with outside counsel to adopt formal training procedures to periodically educate the Company’s officers as to the Company’s SEC reporting responsibilities. However, we cannot provide assurance that we will not have further lapses in our disclosure controls and procedures, which could result in our failure to provide accurate and timely disclosure to our investors."
Not good at all.
They should distribute the funds from the offering and close up shop. There will be nothing left in a few months.
I believe James is paid to post. Denying it doesn't matter, as GALE was found guilty of not disclosing paying pumpers like James. People who break the rules, lie about following the rules, until they get caught.
Bobby = James = LOSER . LIAR . SCAMMER!!! Pumping this piece of dung since $155.00
James2tx = LIAR & SCAMMER & LOSER !!!!!!!!
Gale = James2tx pumping since $155 is ALWAYS WRONG!!!!!
GALE gives cancer, it doesn't have anything to treat cancer.
Who is a bigger loser, James or Antoniass?
FOR SHAME!!! The stock is down 99% and the insider pigs are taking 50% bonuses, tells you all that you need to know about this sketchy operation and the dirt bags running it.
"On various dates starting on March 9, 2017 until March 21, 2017, Stephen F. Ghiglieri, Interim Chief Executive Officer and Chief Financial Officer, Bijan Nejadnik, M.D., Chief Medical Officer, John Burns, Vice President, Finance and Corporate Controller, and Thomas J. Knapp, Interim General Counsel and Corporate Secretary executed retention agreements effective February 1, 2017, whereby the Company would pay these officers fifty percent of their annual base salary"
They are raking it in before bankruptcy or before Ghigi has a fire sale. SHAMELESS SLEAZEBAGS!!!!
Ghiglieri, The Undertaker. Ghiglieri was the CFO at Hansen Medical. The stock plunged from $375.00 and the Company was sold for $3.99 per share. Ghiglieri was the CFO and COO at NeurogesX for 10 years. The stock dropped from $10.00 to $0.005 and closed up shop after completing a $20M private placement and blowing all the funds. Sound familiar?
Galena is being sued by BioVascular Inc for BREACH OF CONTRACT regarding GALE-401.