GALENA BIOPHARMA, INC. (NASDAQ:GALE) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
GALENA BIOPHARMA, INC. (NASDAQ:GALE) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
(e) Compensatory Arrangements of Certain Officers.
On various dates starting on March 9, 2017 until March 21, 2017, Stephen F. Ghiglieri, Interim Chief Executive Officer and Chief Financial Officer, Bijan Nejadnik, M.D., Chief Medical Officer, John Burns, Vice President, Finance and Corporate Controller, and Thomas J. Knapp, Interim General Counsel and Corporate Secretary executed retention agreements effective February 1, 2017, whereby the Company would pay these officers fifty percent of their annual base salary, twenty-five percent paid on June 30, 2017 and twenty-five percent paid on December 31, 2017, if they remain employed through those dates and subject to other terms and conditions. The Compensation Committee and the Board of Directors have approved these retention agreements.
The foregoing description of the retention agreements is qualified in its entirety by the retention agreements, which will be filed as exhibits in the next Quarterly Report on Form 10-Q and are incorporated herein by reference.
About GALENA BIOPHARMA, INC. (NASDAQ:GALE)
Galena Biopharma, Inc. is a biopharmaceutical company. The Company focuses on developing and commercializing targeted oncology therapeutics that address unmet medical needs. The Company’s development portfolio ranges from mid- to late-stage clinical assets, including cancer immunotherapy program led by NeuVax (nelipepimut-S), GALE-301 and GALE-302. The Company’s NeuVax is in Phase III breast cancer clinical trial with several concurrent Phase II trials ongoing both as a single agent and in combination with other therapies. GALE-301 is in a Phase IIa clinical trial in ovarian and endometrial cancers and in a Phase Ib clinical trial given sequentially with GALE-302. The Company’s therapies utilize an immunodominant peptide combined with the immune adjuvant, recombinant human granulocyte macrophage-colony stimulating factor (rhGM-CSF, Leukine), and work by harnessing the patient’s own immune system to seek out and attack any residual cancer cells. GALENA BIOPHARMA, INC. (NASDAQ:GALE) Recent Trading Information
GALENA BIOPHARMA, INC. (NASDAQ:GALE) closed its last trading session up +0.020 at 0.593 with 969,317 shares trading hands.
Galena Biopharma, Inc. is a biopharmaceutical company. The Company focuses on developing and commercializing targeted oncology therapeutics that address unmet medical needs. The Company’s development portfolio ranges from mid- to late-stage clinical assets, including cancer immunotherapy program led by NeuVax (nelipepimut-S), GALE-301 and GALE-302. The Company’s NeuVax is in Phase III breast cancer clinical trial with several concurrent Phase II trials ongoing both as a single agent and in combination with other therapies. GALE-301 is in a Phase IIa clinical trial in ovarian and endometrial cancers and in a Phase Ib clinical trial given sequentially with GALE-302. The Company’s therapies utilize an immunodominant peptide combined with the immune adjuvant, recombinant human granulocyte macrophage-colony stimulating factor (rhGM-CSF, Leukine), and work by harnessing the patient’s own immune system to seek out and attack any residual cancer cells. GALENA BIOPHARMA, INC. (NASDAQ:GALE) Recent Trading Information
GALENA BIOPHARMA, INC. (NASDAQ:GALE) closed its last trading session up +0.020 at 0.593 with 969,317 shares trading hands.
