After a little drama, Galena Biopharma (GALE) will pay out a dividend of one share of Rxi Pharmaceutical for every share of GALE owned. The dividend is being paid out at the close of business today to shareholders as of the April 23rd record date. The new company will trade OTC under the ticker RXII in the coming… Read More »
In an earlier post, we noted that Galena Biopharma’s (GALE) planned spinoff of Rxi Pharmaceutical was still awaiting approval and that the actual distribution date had yet to be determined despite a date of record being established. You can scratch that date off your calendar as the company filed an 8-K on April 10th announcing that it had… Read More »
Who says you have to be a mega-conglomerate in order to pursue a spinoff? Galena Biopharma (GALE), a $46m market cap biotech company, announced that it will spin off RXi Pharmaceutical via stock dividend sometime in the coming months. While the board has not set a final payment date, the date of record will be March 8, 2012… Read More »