Galena Biopharma (GALE) Stock Spikes on Promising Cancer Vaccine Study Results

NEW YORK (TheStreet) -- Galena Biopharma (GALE) shares are up by 11.48% to $1.58 in late afternoon trading on Wednesday, after the biopharmaceutical company reported positive results from the clinical study of its potential cancer vaccine, GALE-301.

"The two abstracts published by ASCO provide meaningful advancements for both of our cancer immunotherapy programs, NeuVax and GALE-301," said CEO Mark W. Schwartz, Ph.D.

The company released data that showed that the vaccine was well tolerated and "elicits a strong and dose-dependent in vivo immune response." The treatment is being studied to determine whether it prevents recurrences of ovarian and endometrial cancer in women.

The company also published an abstract detailing the late stage trials of its breast cancer treatment NeuVax.

GALE ChartGALE data by YCharts

If you liked this article you might like

For These Small-Cap Biotech CEOs, Stock Promotion, Not Drug Development, Was Priority No. 1

For These Small-Cap Biotech CEOs, Stock Promotion, Not Drug Development, Was Priority No. 1

How to Dig Deep for Value in These Exuberant Markets

How to Dig Deep for Value in These Exuberant Markets

Value Investors Have to Go Deeper

Value Investors Have to Go Deeper

Gilead Sciences Leads Biotech Movers -- Plus Jim Cramer's Comments

Gilead Sciences Leads Biotech Movers -- Plus Jim Cramer's Comments

How to Expertly Trade Monday's Most Active Stocks -- AMD, Newell Brands, Hasbro and More