Galena Biopharma Inc (NASDAQ:GALE) announced that Stephen F. Ghiglieri has been appointed as the Company’s Executive Vice President and Chief Financial Officer, effective immediately.
“Stephen has 30 years of senior level finance and operating experience, primarily in the life sciences industry, and has been integral to the growth of numerous companies, from emerging stage through commercial approval and market launch,” said Mark W. Schwartz, Ph.D., President and Chief Executive Officer. “Stephen is a welcome addition to our management team as we restructure our organization and position ourselves to progress our rich clinical pipeline. We are preparing to initiate a pivotal trial next year, and we look forward to providing a corporate update on the progress of all of our programs on our quarterly call next week.”
“I am excited to be joining Galena at this important time in the Company’s history. Galena is currently re-focusing its efforts with a backbone of valuable hematology and immunotherapy assets. I welcome the opportunity to join the team and provide guidance and leadership to help advance the company through its next stages of development. I believe we have the opportunity to build significant shareholder value by executing on a relatively lower risk clinical and regulatory development program with GALE-401 and supporting ongoing investigator and partner sponsored studies with our immunotherapy assets,” commented, Mr. Ghiglieri.
Stephen F. Ghiglieri joins Galena Biopharma with more than 30 years in senior level finance and operations roles at both biotechnology and technology companies. Prior to Galena Biopharma, Mr. Ghiglieri served as CFO of MedData Inc., a private equity backed healthcare services company that was sold to Mednax, a publicly traded national medical group. Previously, he spent nearly 10 years at NeurogesX, ending his tenure as the Company’s Executive Vice President, Chief Operating Officer, and CFO. Prior to that he served as the CFO of Hansen Medical, Inc., a medical device company. He also held senior level finance positions at two other healthcare companies: Oacis Healthcare Systems, Inc., and Oclassen Pharmaceuticals, Inc. Additionally, he was also the CFO and Corporate Secretary for two technology software companies:Avolent, Inc., and Andromedia, Inc. Mr. Ghiglieri began his career as an audit manager of PricewaterhouseCoopers, LLP. He received a Bachelor of Science in Business Administration from California State University, Hayward where he graduated Magna Cum Laude. Mr. Ghiglieri is also a Certified Public Accountant (inactive). (Original Source)
On the ratings front, Galena has been the subject of a number of recent research reports. In a report issued on October 20, Maxim analyst Jason McCarthy reiterated a Buy rating on GALE, with a price target of $1.00, which implies an upside of 424% from current levels. Separately, on October 11, FBR’s Vernon Bernardino reiterated a Buy rating on the stock and has a price target of $2.00.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Jason McCarthy and Vernon Bernardino have a yearly average loss of 18.3% and 25.2% respectively. McCarthy has a success rate of 20% and is ranked #4008 out of 4165 analysts, while Bernardino has a success rate of 15% and is ranked #4021.
Galena Biopharma, Inc. engages as a biopharmaceutical company committed to the development and commercialization of targeted oncology therapeutics that address major unmet medical needs. It focuses on identifying and advancing therapeutic opportunities to improve cancer care from direct treatment of the disease to the reduction of its debilitating side effects. Its products include Abstral (fentanyl) sublingual tablets and Zuplenz (ondansetron) oral soluble film.