Some investors would just as soon forget about Galena after its double miss, but there's much more to this company than what a few paragraphs of its quarterly report can tell you. In order to get a genuine feel for what the future might hold, we need to take a closer look at what its management team had to say during its quarterly conference call.
With that in mind, here are five things that Galena Biopharma's management wants you to know.
This is by far our most important study
Our next major clinical milestone for this trial will be achieving a positive read-out on our event-driven, interim analysis, which will occur when we reach 70 events, defined as recurrence or death from any cause. We believe this will be a significant derisking event for the trial. As a reminder, this is a safety and futility analysis, and based on our current event rate, we expect to reach this milestone by the end of this year or the first quarter of 2016. -- Gavin Choy, senior VP of clinical sciences and operations
For Galena and its shareholders, nothing is more important than the PRESENT study, which is a phase 3 trial involving more than 700 low to moderate expressing HER2 breast cancer patients. NeuVax is an adjuvant therapy designed to prevent cancer from recurring. A 60-month phase 2 study hinted at its potential, with a 78% reduction in risk of recurrence observed in the NeuVax arm relative to the control group.
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