SAN RAMON, Calif., March 11, 2016 (GLOBE NEWSWIRE) -- Galena Biopharma, Inc. (NASDAQ:GALE), a biopharmaceutical company committed to the development and commercialization of targeted oncology therapeutics that address major unmet medical needs, today announced the Company had a typographical error in its Form 10-K filed with the SEC on March 10, 2016 regarding a governmental investigation by the U.S. Attorney’s Office for the Southern District of Alabama.
The Risk Factor in the filing states the following:
A federal investigation of two of the high-prescribing physicians for Abstral has resulted in the criminal prosecution of the two physicians for alleged violations of the federal False Claims Act and other federal statutes. The criminal trial is set for some time in 2016. We have received a trial subpoena for documents in connection with that investigation and we have been in contact with the U.S. Attorney’s Office for the Southern District of Alabama, which is handling the criminal trial, and are cooperating in the production of documents.
The risk factor then incorrectly stated that Galena is a target or subject of that investigation. Galena is NOT a target or subject of that investigation, but is fully cooperating with the authorities on the matter.
The Company will file an amended 10-K/A to reflect this change.
