Galena Biopharma Inc (NASDAQ:GALE), a biopharmaceutical company developing and commercializing innovative, targeted oncology therapeutics that address major medical needs across the full spectrum of cancer care, today announced that Bijan Nejadnik, M.D., has been hired as the Company’s Executive Vice President and Chief Medical Officer, effective today.
Dr. Nejadnik will be responsible for managing all of Galena’s clinical development programs, which consist of multiple mid- to late-stage clinical assets, including immunotherapy programs led by NeuVax™ (nelipepimut-S) and GALE-301 (Folate Binding Protein). NeuVax is currently in a pivotal, Phase 3 clinical trial with several concurrent Phase 2 trials both as a single agent and in combination with other therapies. GALE-301 recently completed a Phase 2a clinical trial in ovarian and endometrial cancer.
“The appointment of Dr. Bijan Nejadnik as our new Chief Medical Officer comes at an important juncture for Galena as the company anticipates reaching several key milestones across our clinical development pipeline,” said Mark W. Schwartz, Ph.D., President and CEO. “Bijan’s knowledge in oncology and immunotherapy, as well as his experience leading the design, planning and execution of early and late-stage clinical programs, will be instrumental to Galena as we continue to advance and expand our product portfolio, including our immunotherapy franchise, led by NeuVax. We are thrilled to have Bijan join the Galena team and look forward to his contributions.”
Dr. Bijan Nejadnik has more than 22 years of academic and industry experience, including twelve years with pharmaceutical and biotech companies including Jazz Pharmaceuticals, Johnson & Johnson, and Purdue Pharma. During his career, he has managed numerous clinical development teams and programs with a therapeutic focus in hematology-oncology, immunology and central nervous system diseases. In this capacity, Dr. Nejadnik has successfully developed numerous biologics and small molecules, advancing these agents towards Biologics License Application (BLA) and New Drug Application (NDA) submissions.
Dr. Nejadnik joins Galena from Jazz Pharmaceuticals where he was the Executive Director, Hematology-Oncology and led the clinical team towards a recently filed NDA. Prior to Jazz, he spent seven years at Johnson & Johnson working on numerous compounds in early and late stage registrational trials in immunology and oncology. Dr. Nejadnik spent more than 13 years in teaching, research and caring for patients at world-renowned academic institutions including Stanford University School of Medicine, Johns Hopkins University School of Medicine, University of California, Davis, and State University of New York, Syracuse. Dr. Nejadnik graduated from the University of Louvain in Belgium for both his undergraduate degree in premedical studies, graduating Summa Cum Laude, and his medical degree, graduating Magna Cum Laude. He completed his internship and residency programs specializing in internal medicine focused on hematology-oncology at the University of Louvain and Oregon Health Sciences University. He completed his fellowships at Cornell University’s Weill Medical College and Johns Hopkins University School of Medicine. Dr. Nejadnik has led or participated in more than 20 peer-reviewed publications. (Original Source)
Shares of Galena Biopharma closed yesterday at $1.73. GALE has a 1-year high of $2.39 and a 1-year low of $1.10. The stock’s 50-day moving average is $1.71 and its 200-day moving average is $1.62.
On the ratings front, Galena Biopharma has been the subject of a number of recent research reports. In a report issued on September 30, FBR analyst Vernon Bernardino maintained a Buy rating on GALE, with a price target of $5, which represents a potential upside of 189.0% from where the stock is currently trading. Separately, on September 28, Roth Capital’s Joseph Pantginis maintained a Buy rating on the stock and has a price target of $8.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Vernon Bernardino and Joseph Pantginis have a total average return of -19.7% and -5.4% respectively. Bernardino has a success rate of 25.0% and is ranked #3781 out of 3808 analysts, while Pantginis has a success rate of 34.8% and is ranked #3750.
Galena Biopharma Inc, is a biopharmaceutical company focused on developing and commercializing targeted oncology therapeutics that address medical needs across the full spectrum of cancer care.