Galena Biopharma Inc (GALE) focuses on developing and commercializing oncology therapeutics that address major unmet medical needs. The companys lead product candidate, NeuVax (nelipepimut-S), is in Phase III clinical trials for the prevention of recurrence in early- stage and node-positive breast cancer with low to intermediate human epidermal growth factor receptor (HER2) expression; Phase IIb clinical trials in combination with Herceptin for HER2 1+/2+ node-positive and high-risk node-negative breast cancer treatment; and Phase II clinical trials in combination with trastuzumab for node positive and negative HER2 IHC 3+ patients. It also develops GALE-301 (folate binding protein), which is in Phase IIa clinical trials for the prevention of recurrence in patients with ovarian and endometrial cancers; GALE-302, a version of the E39 peptide that is in Phase 1b clinical trial for investigating a novel vaccination series; and GALE-401 (anagrelide controlled release), which is in a Phase II clinical trial for the treatment of patients with myeloproliferative neoplasms to lower elevated platelet levels. Galena Biopharma, Inc. has planned development and commercialization partnership with Dr. Reddy’s Laboratories Ltd. for NeuVax in breast and gastric cancers. The company was formerly known as RXi Pharmaceuticals Corporation and changed its name to Galena Biopharma, Inc. in September 2011. Galena Biopharma, Inc. was founded in 2003 and is based in San Ramon, California.
Merck & Co., Inc. (MRK) recently declared financial results for the fourth quarter and full year of 2016.
Worldwide sales were $10.1 billion for the fourth quarter of 2016, a decrease of 1 percent contrast with the fourth quarter of 2015, counting a 1 percent negative impact from foreign exchange. Sales in the fourth quarter of 2016 reflect the unfavorable impact of about $150 million of sales in Japan, which occurred in the third quarter of 2016 rather than in the fourth quarter because of the implementation of a resource planning system. Full-year 2016 worldwide sales were $39.8 billion, a boost of 1 percent contrast with the full year of 2015, counting a 2 percent negative impact from foreign exchange.
GAAP (generally accepted accounting principles) earnings per share assuming dilution (EPS) were $0.42 for the fourth quarter and $2.04 for the full year of 2016. Non-GAAP EPS of $0.89 for the fourth quarter and $3.78 for the full year of 2016 excludes acquisition- and divestiture-related costs, restructuring costs and certain other items, which include a charge to settle the worldwide KEYTRUDA patent litigation.
“The performance of Merck’s broad and balanced portfolio allows us to remain committed to biomedical innovation that saves and improves lives and delivers long-term value to shareholders,” said Kenneth C. Frazier, chairman and chief executive officer, Merck. “The momentum behind our pipeline and key product launches, counting the continued growth and expansion of KEYTRUDA into new indications and markets around the world, further reinforces our company’s planned direction.”