Are Galena Biopharma’s Largest Shareholders Giddy About Their Drug Trial Results?

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For the year-t0-date, Galena Biopharma’s (NASDAQ:GALE) shares are up 224.09 percent. On June 4, the company presented positive data results from its Phase 1/2 clinical trial of NeuVax™, a treatment for breast cancer. The final data report is expected to be announced in the fourth quarter.

Rosemary Mazanet, M.D., Ph.D., Executive Vice President and Chief Medical Officer said of the recent results, ”The data presented on Saturday reinforces our Phase 3 trial design and suggests that women will receive the most benefit from NeuVax when their monthly inoculations are followed by booster dosing. We believe this immunity will give these patients protection from their cancer returning.”

With the positive trial results, will Galena’s largest shareholders increase their positions? 37 institutional firms indicated owning shares of Galena Biopharma Inc (GALE) in Q1 2012. These firms reported owning a total of 3.794 million shares on 03/31/2012. The shares closed at $2.22 on 03/31/2012.

Here are the ten largest positions in Galena Biopharma Inc at the end of March 31st, 2012.

Blackrock Institutional Trust Company N.A. held 1,823,248 shares on 03/31/2012 worth $4,047,611. This brought the portfolio total to 0.0%.

Vanguard Group Inc held 861,058 shares on 03/31/2012 worth $1,911,549. This brought the portfolio total to 0.0%.

Bank of America Corp /DE/ held 114,725 shares on 03/31/2012 worth $254,690. This brought the portfolio total to 0.0%.

Hudson Bay Capital Management LP held 109,600 shares on 03/31/2012 worth $243,000. This brought the portfolio total to 0.01%.

Susquehanna International Group LLP held 105,700 shares on 03/31/2012 worth $235,000. This brought the portfolio total to 0.0%.

Ubs AG held 97,605 shares on 03/31/2012 worth $216,683. This brought the portfolio total to 0.0%.

Geode Capital Management LLC held 95,724 shares on 03/31/2012 worth $212,507. This brought the portfolio total to 0.0%.

Bank of New York Mellon Corp held 90,466 shares on 03/31/2012 worth $200,835. This brought the portfolio total to 0.0%.

Blackrock Fund Advisors held 89,988 shares on 03/31/2012 worth $199,773. This brought the portfolio total to 0.0%.

Barclays PLC held 86,600 shares on 03/31/2012 worth $192,000. This brought the portfolio total to 0.0%.

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