Glancy Binkow & Goldberg LLP reminds investors of Galena Biopharma, Inc. (“Galena” or the “Company”) (NASDAQ:GALE) that all purchasers of Galena securities between November 6, 2013 and February 14, 2014, inclusive (the “Class Period”), have until May 5, 2014, to file a motion to be appointed as lead plaintiff in the shareholder lawsuit.

Galena is a biopharmaceutical company commercializing and developing innovative, targeted oncology treatments that address major unmet medical needs to advance cancer care. The Complaint alleges that throughout the Class Period defendants misrepresented and/or failed to disclose that: (1) the Company hired a promoter – The DreamTeam Group – to boost Galena’s share price; (2) the promoter posted misleading articles on Galena’s behalf without properly disclosing its paid marketing relationship; and (3), as a result, the Company’s statements were materially false and misleading at all relevant times.

On February 12, 2014, TheStreet.com published an article alleging that several articles touting Galena, which were posted on the SeekingAlpha.com website under the guise of different individual investors, were removed from the site after it was discovered that the articles were written by the same person, without disclosure of the paid marketing relationship to Galena. Then, on February 14, 2014, in a Company-issued press release, Galena admitted that it had paid The DreamTeam Group to promote its stock.

If you are a member of the Class described above, you may move the Court no later than May 5, 2014, to serve as lead plaintiff; however, you must meet certain legal requirements. To be a member of the Class, you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, Toll-Free at (888) 773-9224, or contact Gregory Linkh, Esquire, of Glancy Binkow & Goldberg LLP at 122 E. 42nd Street, Suite 2920, New York, New York 10168, at (212) 682-5340, by e-mail to shareholders@glancylaw.com, or visit our website at http://www.glancylaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.