Galena Biopharma’s (GALE) plan to give away a month’s free supply of a potentially lethal painkiller caused GALE stock to plummet Monday.
A Bronte Capital analyst ripped the company apart for offering high-grade opioids called Abstral for free as part of a marketing strategy. Abstral is Galena’s name for Fentanyl which is a synthetic opioid analgesic that is very potent and works very quickly.
The analyst notes that Fentanyl is dangerous and potent enough to kill a person with a single dose in some cases. The drug is helpful for patients suffering intense pain from terminal cancer or a similar affliction but Galena’s Abstral trial doesn’t really fit the bill.
You can check out the official Abstral website to learn more about the drug. GALE stock is down a whopping 21.5% Monday.