Galena Backs 2014 Revenue Outlook; Expects Abstral To Be Accretive In 2015

(RTTNews) - Galena Biopharma, Inc. (GALE) forecast net revenue for 2014 in the middle of the established range of $8 million to $10 million, with year-end and fourth quarter earnings to be announced in March.

On average, analysts polled by Thomson Reuters expect the company to report revenues of $8.70 million for the year. Analysts' estimates typically exclude special items.

The company said that commercially, it anticipates a strong 2015 for sales growth along with the launch of a second asset.

Galena Biopharma expects to achieve net revenue of $15 million to $18 million in 2015. Analysts have a consensus revenue estimate of $18.97 million for the year.

The company noted that as penetration of Abstral (fentanyl) sublingual tablets continues to grow to treat patients with breakthrough cancer pain, it expects the product to become accretive in 2015.

Further, Galena Biophamra said that with the upcoming launch of Zuplenz or ondansetron oral soluble film in the U.S. to treat nausea and vomiting caused by chemotherapy, radiation therapy and following surgery, it expects over 50 percent revenue growth in 2015.