Galena Biopharma Inc was incorporated as Argonaut Pharmaceuticals, Inc. in Delaware on April 3, 2006 and changed its name to RXi Pharmaceuticals Corporation on November 28, 2006. On September 26, 2011, the Company changed it names from RXi Pharmaceuticals Corporation to Galena Biopharma, Inc. The Company is a biopharmaceutical company focused on developing and commercializing, targeted treatments that address unmet medical needs to advance cancer care. Its first commercial product, Abstral "fentanyl" Sublingual Tablets, is an important treatment option for inadequately controlled breakthrough cancer pain "BTcP". BTcP is defined as a transient exacerbation of pain that occurs either spontaneously, or in relation to a specific predictable or unpredictable trigger, despite relatively stable and adequately controlled background pain. The Company has established an experienced specialty sales force in the United States, including sales management, account management, managed care and product access management, and field sales personnel. Its second immunotherapy product candidate is GALE-301, or Folate Binding Protein. GALE-301 is derived from a protein that is over-expressed (20-80 fold) in more than 90% of ovarian and endometrial cancers. GALE-301 is immunogenic and can stimulate CTLs to recognize and destroy FBP-expressing cancer cells. It is Company's policy to protect its intellectual property rights through available means, including filing patent and prosecuting applications in the United States and other countries, protection of trade secrets, and utilizing regulatory protections such as data exclusivity and orphan drug status. The Company competes with pharmaceutical and biotechnology companies, educational institutions and research foundations. The Company is subject to a variety of federal, state and local regulations relating to the use, handling, storage and disposal of hazardous materials, including chemicals and radioactive and biological materials.