LAKE OSWEGO, Ore., April 16, 2012 (GLOBE NEWSWIRE) -- Galena Biopharma (Nasdaq:GALE), a biotechnology company focused on developing innovative, targeted oncology treatments addressing major unmet medical needs to advance cancer care, announced today that it has closed the previously announced underwritten public offering of 9,751,500 shares of its common stock at a price to the public of $1.50 per share for gross proceeds of approximately $14.5 million. The shares include 1,251,000 shares of common stock sold pursuant to the over-allotment option granted by the Company to the underwriters. The net proceeds from the sale of the shares, after deducting the underwriters’ discounts and other estimated offering expenses payable by Galena Biopharma, will be approximately $13.3 million.
