Galena Biopharma, currently under federal investigation, is expected to announce the departure of Mark Ahn, its longtime president and CEO.
Galena Biopharma, currently under federal investigation, is expected to announce the departure of Mark Ahn, its longtime president and CEO.
Galena, known primarily for its pursuit of a possible breast cancer vaccine that has not been approved as effective by the federal government, is under investigation by the Securities and Exchange Commission for allegedly paying for a stock promotion scheme in which paid essays were presented online as objective investor analyses without disclosing that they were paid for by the firm — as appears to be required by federal law. Following the stock promotion campaign, executives and directors of the firms made millions by selling shares at a profit.
Read more at Oregonlive.
