SAN RAMON, Calif., May 10, 2017 (GLOBE NEWSWIRE) -- Galena Biopharma, Inc. (NASDAQ:GALE), a biopharmaceutical company developing hematology and oncology therapeutics that address unmet medical needs, today reported its financial results for the quarter ended March 31, 2017.
“In the first quarter of 2017, we initiated a strategic assessment of Galena to examine a variety of options for optimizing value for the Company and our shareholders,” said Stephen F. Ghiglieri, Interim Chief Executive Officer and Chief Financial Officer. “As announced, we hired Canaccord Genuity to assist us in the process, and we are now actively exploring several potential opportunities, from monetizing some or all of our clinical development programs through a license or sale of the assets, to a complete transformation of the Company via a sale, merger, reverse merger, or business combination with another company, as well as combinations of these strategies.”