PORTLAND, Ore., Sept. 12, 2013 (GLOBE NEWSWIRE) -- Galena Biopharma, Inc. (Nasdaq:GALE), a biopharmaceutical company focused on developing and commercializing innovative, targeted oncology treatments to address major unmet medical needs to advance cancer care, announced today that it intends to offer shares of its common stock and warrants to purchase shares of its common stock in an underwritten public offering. The shares of common stock and warrants to purchase common stock are being offered as units. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
Oppenheimer & Co. Inc. is acting as sole book-running manager for the proposed offering.
The company intends to use the net proceeds of the offering for the commercialization of its first commercial product, Abstral® (fentanyl) Sublingual Tablets, and its ongoing Phase 3 NeuVax™ (nelipepimut‑S) PRESENT ( Prevention of Recurrence in Early- Stage, Node-Positive Breast Cancer with Low to Intermediate HER2 Expression with NeuVax Treatment) clinical trial, other clinical trials of its product candidates, and general corporate purposes.The securities described above are being offered by the company pursuant to a "shelf" registration statement on Form S-3 previously filed and declared effective by the Securities and Exchange Commission (SEC) on June 12, 2013. A preliminary prospectus supplement and an accompanying prospectus relating to the offering will be filed with the SEC. Electronic copies of the preliminary prospectus supplement and the accompanying prospectus relating to the offering may be obtained, when available, from Oppenheimer & Co. Inc., Attention: Syndicate Prospectus Department, 85 Broad Street, 26th Floor, New York, NY 10004, or by telephone at (212) 667-8563, or by email at EquityProspectus@opco.com, or by accessing the SEC's website at www.sec.gov . Before investing in the offering, interested parties should read in their entirety the prospectus supplement and the accompanying prospectus and the other documents that the company has filed with the SEC that are incorporated by reference in the prospectus supplement and the accompanying prospectus, which provide more information about the company and the offering.