Top 10 Penny Stocks To Buy in 2017

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6. Galena Biopharma Inc (NASDAQ:GALE)

The number of investors from our database long Galena Biopharma Inc (NASDAQ:GALE) increased by three to eight during the first quarter, while the aggregate value of their holdings appreciated to $3.23 million from $1.28 million and represented nearly 15% of the company’s outstanding stock.

Galena Biopharma Inc (NASDAQ:GALE) is focused on developing oncology therapeutics that address unmet medical needs. Its stock has lost 70% since the beginning of the year, and was trading at around $7 per share at the beginning of 2014, although it was reportedly due to the company paying for promotional articles to boost its price. Earlier this year, the company announced that it will continue two mid-stage phase 2 studies of its breast cancer vaccine and it also has a number of other ongoing and planned studies. However, as its market value plunges and the company is burning cash at a very high rate, a lot of effort will be required for Galena Biopharma Inc (NASDAQ:GALE) to survive. Nevertheless, Jim Simons’ Renaissance Technologies initiated a stake in Galena during the first quarter that amassed 1.60 million shares at the end of March.

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Follow Sellas Life Sciences Group Inc. (NASDAQ:SLS)

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