For his second "Executive Decision" segment, Cramer spoke with Dr. Mark Ahn, president and CEO of Galena Biopharma (GALE), a smaller, speculative biotech company that's showing a lot of promise with its NeuVax anti-cancer treatment currently in Phase III testing. Shares of Galana are up over 233% since November.
Ahn said Galena has seen exciting and promising results from its studies so far, which have shown either a delay or prevention of cancer recurrence. He said the company has a multi-billion dollar opportunity in front of it, both for breast cancer as well as gastric cancer and as a standalone and combination treatment with other drugs.
When asked about delays in getting the Phase III stuff off the ground, Ahn said it takes time to set up the 130 hospitals in 15 countries that will be testing the drug, but the study will be fully enrolled by mid-year.
Ahn also responded to critics' charge Galena is ignoring the fact that NeuVax may not help, and may even harm, some patients. He said that it's totally appropriate for any new drug to have its skeptics, and NeuVax, like every drug, has a segment of patients for which it's most effective and others where it's not effective. In Phase II testing, he continued, NeuVax saw 0% cancer recurrence and that's what it is now testing in Phase III.
Cramer said there is a lot of research, both pro and con, regarding Galena and investors need to do their homework and be informed.
No Huddle Offense
In his "No Huddle Offense" segment, Cramer opined on the skepticism and resistance surrounding his recommendation of Bank of America (BAC - Get Report), a holding in his charitable trust, Action Alerts PLUS.
Cramer said that there's no denying that Bank of America is a hated story for many, but no one could have handled the disaster that was the Countrywide acquisition. As the bank recovers, yes, it doesn't yet pay a dividend, but that decision it up to regulators, not the bank.
Some skeptics call for a breakup of Bank of America, but Cramer said that the bank is in good shape with its current structure. Still others cite the ailing mortgage market as another reason to avoid the stock. But Cramer said mortgages are a commodity and rising net interest margins are what matters most.
All in all, Cramer said these negatives just don't hold water, and there's a lot to like about this most-hated of banks.
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-- Written by Scott Rutt in Washington, D.C.
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