February 14, 2014 (Shareholders Foundation) - An investigation on behalf of investors of Galena Biopharma Inc (NASDAQ:GALE) shares over potential securities laws violations by Galena Biopharma and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Galena Biopharma Inc (NASDAQ:GALE) concerning whether a series of statements Galena Biopharma regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Galena Biopharma Inc reported that its Net Loss increased from $11.48 million in 2011 to $34.97 million in 2012.

Shares of Galena Biopharma Inc (NASDAQ:GALE) grew from $1.78 per share in July 2013 to as high as $7.48 per share on Janaury 16, 2014.

Then on February 12, 2014 an article was published alleging that Galena Biopharma Inc has engaged in a misleading brand awareness campaign designed to boost Galenas stock price. The article said that aided by this promotional campaign, Galena shares tripled in value from this summer. Coincidence or not, Galena insiders have made millions of dollars by selling company stock in January.

Shares of Galena Biopharma Inc (NASDAQ:GALE) closed on February 14, 2014, at $3.73 per share.