2016 shareholder meeting presentation final

2016 ANNUAL MEETING OF STOCKHOLDERS

July 14, 2016

FORWARD LOOKING STATEMENT

This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about future expectations, plans and prospects for the development and commercialization of the Company's product candidates, including patient enrollment in our clinical trials, present or future licensing, collaborative or financing arrangements, expected outcomes with regulatory agencies, and projected market opportunities for product candidates are subject to a number of risks, uncertainties and assumptions, including those identified under Risk Factors in the Companys most recently filed Annual Report on Form 10-K and Quarterly Report on Form 10-Q and in other filings the Company periodically makes with the SEC. Actual results may differ materially from those contemplated by these forward-looking statements. The Company does not undertake to update any of these forward-looking statements to reflect a change in its views or events or circumstances that occur after the date of this presentation.

2

DEVELOPMENT PIPELINE

Product Therapeutic Area Phase 1 Phase 2 Phase 3 BLA / NDA

Immunotherapy: Breast Cancer

NeuVax (nelipepimut-S) Node-positiveHER2 IHC 1+/2+

NeuVax + Herceptin Node-positive or node negative/triple negative HER2 IHC 1+/2+

NeuVax + Herceptin High risk, node-positive or negative, HER2 IHC 3+

NeuVax Ductal Carcinoma in Situ (DCIS)

Immunotherapy: Gastric Cancer

NeuVax Gastric, HER2 IHC 1+/2+/3+

Immunotherapy: Gynecological Cancer

GALE-301 Ovarian & Endometrial

GALE-301 + GALE-302 Ovarian & Breast

Hematology

GALE-401 (Anagrelide CR) MPN-related thrombocytosis

*NeuVax is an investigational product. Efficacy has not been established. Herceptin is a registered trademark of Genentech.

Ongoing Planned

VADIS

3

2b

StoppedPRESENT

PRESENT CURRENT STATUS

IDMC recommend the trial stop for futility Study drug and all procedures have stopped

Investigation ongoing Compiled team with addition of outside experts and the Company

remains blinded to the data Operational elements under review include: Database and data analysis (programming) Randomization Manufacturing and packaging elements such as filling, labeling and

kit assembly Biology and immunology Anticipated timeline: up to 3 months or longer

4

T-Cell

Activating Receptors Inhibitory Receptors

CD28

OX40

GITR

CD122

CD27

CD360

HVEM

CD137

CTLA-4

PD-1

TIM-3

BTLA

VISTA

LAG-3

IMMUNO-ONCOLOGY:UNLOCKING THE POWER OF THE T-CELL

5

Checkpoint inhibitors

Indirect Immune Modulators

Co-stimulators

Immune Inhibitory Enzymes

CAR TTechnology

TCRTechnology

T-Cell


CD28

OX40

GITR

CD122

CD27

CD360

HVEM

CD137

CTLA-4

PD-1

TIM-3

BTLA

VISTA

LAG-3

LACK OF REACTIVE T-CELLS MAY RENDER SOME TOOLS INEFFECTIVE IN MANY CANCERS

6



Co-stimulators


T-Cell

CD28OX40

GITR

CD122

CD27

CD360

HVEM

CD137

CTLA-4

PD-1

TIM-3

BTLA

VISTA

LAG-3


OUR VACCINES STIMULATE T-CELL PROLIFERATION AND EXPANSION

7

T cells



Co-stimulators


T cells

T cells

T cells

T cells

T cells

T cells

T cells

T cells

T cells

GALE-301

NOVEL DEVELOPMENT STRATEGY: SECONDARY PREVENTION IN CANCER SURVIVORS

8

RECEIVES PRIMARY TREATMENT

Surgery Chemotherapy and/or Radiation

Disease freesurvivor

Breast: HER2, 1+/2+25% recurrence rate in 3 yrs

No FDA Approved targeted therapies

Breast: HER2, 3+ High Risk20% recurrence rate

DECLAREDTO PREVENT RECURRENCE / METASTATIC DISEASE

Breast: Ductal Carcinoma in Situ8-10% progression to invasive

Ovarian Cancer~50% recurrence rate in 1 yr

No FDA Approved targeted therapies

Watch & Wait, or

Repetitive therapies

TOLD

NEUVAX: DEVELOPMENT COLLABORATIONS

Phase Treatment HER2 Status Indication Trial StatusProtocol Defined

# of PatientsCollaborations

3Single agent

PRESENTStudy

1+, 2+BREAST

Node PositiveHLA A2+, A3+

STOPPED 700(enrolled 758)

2bCombination

with trastuzumab

1+, 2+

BREAST Node Positive or High Risk Node Negative

HLA A2+, A3+, A24+, A26+

EnrollingU.S. only

33 centers300

2Combination

with trastuzumab

3+ high risk

BREASTNode PositiveHLA A2+, A3+

EnrollingU.S. only

28 centers100

2 Single agentVADIS Study1+,

2+,3+

BREASTDuctal Carcinoma in

Situ (DCIS)HLA A2+

RecruitingU.S. only4 centers

48

2 Single agent 1+, 2+,3+GASTRIC

HLA A2+, A3+Planned

India Only 50

9

Targeting Folate Binding Protein

GALE-301 & GALE-302

GALE-301 & GALE-302:CURRENT CLINICAL DEVELOPMENT

11

Phase Treatment Cancer Type TargetIndicationCurrent Status

# of Enrolled Patients

1/2a GALE-301Ovarian,

EndometrialHLA A2+

Ovarian Enrolled 51

1b GALE-301 & GALE-302Ovarian, Breast

HLA A2+Ovarian /

Breast Enrolled 39

GALE-301: OPTIMAL DOSE GROUP SHOWS PRELIMINARY EFFICACY

Source: Peoples, et. al, Poster Presentation, American Society of Clinical Oncology 2015 12

Phase 1/2a trial ongoing Phase 1: Determined optimal dose and

demonstrated safety and potent immune response

Phase 2a Preliminary data:

At 16 months median follow-up:

Overall recurrence rate was 44.8% in the VG versus 54.5% in the CG (p=0.58),

Recurrence rate of 23.5% in patients who received booster inoculations.

Two year DFS estimate in 1000 mcg dose group is 73.5% vaccine vs. 38.1% control (p=.03)

GALE-301 plus GM-CSF is well tolerated and elicits a strong in vivo immune response with primarily Grade 1 and Grade 2 toxicities

Estimated 24 months Disease Free Survival by Dosing Cohort

Chart1

0.3103448276

0.5

*p=0.17

% of Subjects

Recurrence

Demographics

Enroll DateDOBAge at EnrollCohortDosageBooster CohortBooster DoseTumor Size (cm)GradeCytology# pos nodedStatusStatus CommentDate offRecurrence TypeLast VaxVax Date

NV005V15/24/127/10/6250Group 1100mcg E39 + 250mcg GM-CSF13poorlypositivenaCompletePt recurred with primary cancer11/7/13TreatedV612/4/12

NV033V23/29/126/19/5161Group 1100mcg E39 + 250mcg GM-CSFArm 2500mcg J65 + 250mcg GM-CSF8poorlypositive1

NV015V39/21/126/22/5656Group 1100mcg E39 + 250mcg GM-CSF3poorlypositive0CompletePt recurred with primary cancer12/18/13TreatedV62/4/13

NV009V411/27/123/13/4271Group 2500mcg E39 + 250mcg GM-CSFArm 2500mcg J65 + 250mcg GM-CSF5.5poorlyunknownnaCompletePt recurred with primary cancer3/18/14Treated

NV025V511/29/127/18/5656Group 2500mcg E39 + 250mcg GM-CSF6.5poorlypositive0CompletePt recurred with primary cancer2/7/13EarlyV32/5/13

NV032V612/3/121/11/5360Group 2500mcg E39 + 250mcg GM-CSFArm 1500mcg E39 + 250mcg GM-CSF6poorlypositive1

NV030V71/24/132/20/4073Group 3500mcg E39 + 250mcg GM-CSFArm 2500mcg J65 + 250mcg GM-CSF15moderatenegative0

NV016V82/11/139/28/5557Group 31000mcg E39 + 250mcg GM-CSFArm 2500mcg J65 + 250mcg GM-CSF3.5well-differentiatedpositive

NV054V93/4/138/2/3875Group 31000mcg E39 + 250mcg GM-CSFArm 1500mcg E39 + 125mcg GM-CSFcannot be determinedpoorlyunknown

NV060V105/2/132/23/5261OBD500mcg E39 + 250mcg GM-CSF1.7moderateunknown0Off TreatmentIntercurrent Illness8/16/13(patient hospitalized for NSTEMI and subsequent CABG)

NV061V115/23/137/23/5261OBD500mcg E39 + 250mcg GM-CSF7.3poorlypositive0CompletePt recurred with primary cancer7/10/13EarlyV27/9/13

NV062V125/30/139/23/6449OBD500mcg E39 + 250mcg GM-CSF3poorlyunknown1CompletePt recurred with primary cancer3/7/14Treated

NV070V137/11/137/21/4568OBD500mcg E39 + 250mcg GM-CSF4.5poorlynegative0CompletePt recurred with primary cancer12/23/13TreatedV611/18/13

NV064V146/3/136/14/3974OBD500mcg E39 + 250mcg GM-CSFArm 2500mcg J65 + 250mcg GM-CSF3poorlyunknown4

NV065V156/4/135/11/4271OBD500mcg E39 + 250mcg GM-CSF8moderatepositive3CompletePt recurred with primary cancer11/14/13TreatedV610/1/13

NV100V1612/30/134/6/5163OBD500mcg E39 + 250mcg GM-CSF7poorlypositivena

NV101V172/3/147/16/5955OBD500mcg E39 + 250mcg GM-CSF11.5moderatenegative3

NV102V182/24/1410/12/7340OBD1000mcg E39 + 250mcg GM-CSFperitoneal carcinomatosispoorlyunknown13

NV103V192/27/148/29/4766OBD1000mcg E39 + 250mcg GM-CSF9well-differentiatednegative0

NV104V203/24/145/28/7539OBD1000mcg E39 + 250mcg GM-CSF10poorlyunknown0

NV105V215/5/144/29/5361OBD1000mcg E39 + 250mcg GM-CSF8poorlypositive19Off StudyWithdrawn5/8/14

NV106V224/25/142/26/6252OBD1000mcg E39 + 250mcg GM-CSF6poorlyatypical cells0


NV108V246/3/149/29/5955OBD1000mcg E39 + 250mcg GM-CSF8.5poorlypositivena

NV109V256/16/146/25/3876OBD1000mcg E39 + 250mcg GM-CSF3.5poorlyunknown0

NV0279/13/121/11/5063controlNApoorlyatypical cells3CompletePt recurred with primary cancer8/22/13

NV0315/5/124/10/5656control4poorlypositive4CompletePt recurred with primary cancer11/28/12

WR02312/5/117/22/6942control9poorly0CompletePt has completed 18 months on trial12/19/13

NV0083/23/126/10/7042control10poorlypositiveNACompletePt recurred with primary cancer11/1/12

NV0189/19/1210/25/5359control14poorlypositivenaCompletePt recurred with primary cancer6/4/14


NV0201/8/132/23/7439control10well-differentiatedunknownNAOff StudyWithdrawn: Pt refuses participation in control group1/9/13

NV0291/24/135/3/4271control11poorlyunknownnaOff StudyWithdrawn: screen failure1/25/13

NV0012/12/1311/4/5854control7.5poorlyatypical cellsnaCompletePt recurred with primary cancer6/13/14

NV0232/14/1310/11/5062controlnot measurablepoorlypositive1CompletePt recurred with primary cancer8/16/13

NV0131/23/133/15/6647control8well-differentiatedunknown0

NV0112/28/132/17/5063control5poorlyunknownnaCompletePt recurred with primary cancer10/14/13

NV0636/25/139/8/3776control5.2poorlypositivena

NV0666/26/136/13/6152control9.5poorlypositivenaCompletePt recurred with primary cancer11/14/13

NV0676/25/139/27/5162control8poorlypositivena

NV0687/3/135/9/5954control8poorlypositive0

NV0982/10/145/8/5163control10poorlynegative0


NV0973/27/144/4/6153control1.5poorlypositive0

NV0964/8/142/1/4866control3.5poorlypositive0CompletePt recurred with primary cancer6/13/14

NV0955/8/143/8/4965control5moderateunknown1


AgeSizePoorly graded, mod, wellCytologyNodesStage IIIStage IIStage IStage IV

Vac6119,4,212 pos2.515334

Cont5918,2,212 pos0.916666666711335

pvalue10.33672648630.73,0.67, 10.770.2308385170.56110.714

Demographics

VaccinatedControl

n2522

Age (mean)6159p=1

Nodes30.92p=0.23

Poor Grade1918p=0.73

Mod Grade42p=0.67

Well Differentiated22p=1

Stage I33p=1

Stage II33p=1

Stage III1511p=0.56

Stage IV45p=0.714

Laura:diffuse cannot be determined

Path_Stage

Study IDSyncronous 1* Malignancies1* SiteFIGOTNMMetastasis LocationHistologyEpithelial1Epithelial2Epithelial3Endometrial1

NV005V1NoOvarianIIIC3cNxM1transverse 2nd sigmoid colonOvarianAdenocarcinoma

NV0033V2NoOvarianIIIC3bN1MxOvarianPapillary Serous Carcinoma

NV015V3NoOvarianIIIC3cNxMxOvarianEndometrioid CystoadenocarcinomaMixed Epithelial TumorPapillary Serous Carcinoma

NV009V4NoOvarianIIIC3cNxM0OvarianSerous Cystoadenocarcinoma

NV025V5NoOvarianIC1cN0MxOvarianSerous CystoadenocarcinomaEndometrioid CystoadenocarcinomaMixed Epithelial Tumor

NV032V6NoOvarianIIIC3cN1M0OvarianSerous Cystoadenocarcinoma

NV030V7NoOvarianIIA1aN0M0OvarianEndometrioid Cystoadenocarcinoma

NV016V8NoOvarianIIIA3aNxM1Gall BladderOvarianSerous Cystoadenocarcinoma

NV054V9NoOvarianIIB2bNxMxOvarianMixed Epithelial Tumor

NV060V10NoEndometrialIV4N0M1PulmonaryEndometrialEndometriod Adenocarcinoma

NV061V11NoOvarianIIIC3CNxMxOvarianSerous Cystoadenocarcinoma

NV062V12NoPeritonealIIIC3cN1MxPrimary PeritonealSerous CystoadenocarcinomaClear Cell Cystoadenocarcinoma

NV070V13NoEndometrialIIIC11aN1M0EndometrialCarcinosarcoma

NV064V14NoFallopian TubeIIIC1aN1MxFallopian tubeSerous Cystoadenocarcinoma

NV065V15NoOvarianIIIC3CN1MxOvarianSerous Cystoadenocarcinoma

NV100V16NoOvarianIIIC3cNxMxOvarianSerous Cystoadenocarcinoma

NV101V17NoEndometrialIVB4N2M1PulmonaryEndometrialEndometrioid Adenocarcinoma

NV102V18NoPeritonealIV4N2(13)M1LO, RO, liver parenchyma, splenic serosa, peripancreatic LN, pericecal adispose tissue, anterior abdominal wall fascia & subcutaneous tissue, uterine serosa, omentumPrimary PeritonealSerous Cystoadenocarcinoma

NV103V19NoOvarianIC1cN0MxOvarianEndometrioid Cystoadenocarcinoma


NV105V21NoOvarianIV4N2M1SpleenOvarianSerous Cystoadenocarcinoma

NV106V22NoOvarianIICTxNxMxOvarianClear cell cystoadenocarcinoma


NV108V24NoOvarianIIIC3cNxMxOvarian

NV109V25NoEndometrialIA1aN0MxEndometrialEndometrioid Adenocarcinoma

NV008NoOvarianIIIC3bNxMxOvarianCarcinosarcoma

NV018NoOvarianIIIB3bN0MxOvarianSerous Cystoadenocarcinoma

NV020NoOvarianIA1aNxMxOvarianMucinous CystoadenocarcinomaEndometrioid CystoadenocarcinomaMixed Epithelial Tumor

NV027NoEndometrialIVB3bN2M1IntraperitonealEndometrialEndometrioid Adenocarcinoma

NV031NoOvarianIV4NxM1skin implants in abdominal wall where intraperitoneal port would be placedOvarianSerous Cystoadenocarcinoma

NV036NoOvarianIIIC3cNxMxOvarianCarcinosarcoma

WR023NoOvarianIC1cNxMxOvarianSerous CystoadenocarcinomaEndometrioid Cystoadenocarcinoma

NV029NoOvarianIIIC3cNxM0OvarianSerous CystoadenocarcinomaEndometrioid CystoadenocarcinomaMixed Epithelial Tumor

NV023NoOvarianIV3cN1M1Cardiophrenic LNOvarianSerous Cystoadenocarcinoma

NV013NoOvarianIIC2cN0M0OvarianSexcord Stromal

NV001NoOvarianIA1aNxMxOvarianClear cell cystoadenocarcinoma

NV011NoOvarianIV4NxM1lungsOvarianSerous Cystoadenocarcinoma

NV063NoOvarianIIIC2cNxMxOvarianSerous Cystoadenocarcinoma

NV066NoOvarianIIIB3bNxM0OvarianClear cell cystoadenocarcinoma

NV067NoOvarianIIIC3cNxMxovarianSerous Cystoadenocarcinoma

NV068NoOvarianIIC2cN0MxOvarianSerous Cystoadenocarcinoma

NV098NoOvarianIIIB3bNxMxOvarianSerous CystoadenocarcinomaEndometrioid CystoadenocarcinomaMixed Epithelial Tumor

NV099NoOvarianIIIC3cN0MxOvarianSerous Cystoadenocarcinoma

NV097NoOvarianIIIB3bNxMxOvarianSerous Cystoadenocarcinoma

NV096NoOvarianIIB2bN0MxOvarianSerous Cystoadenocarcinoma

NV095NoEndometrialIV4N1M1Hernia and omentumEndometrialEndometrioid Adenocarcinoma

NV094NoEndometrialIIIC3bN2MxEndometrialEndometrioid Adenocarcinoma

DTH

R0 E39RO NSSR6 E39R6 NSSR0 E39RO NSSR6 E39R6 NSSR0R6

NV005V113.50480n242414147.145833333315.8214285714

NV033V24000median20130

NV015V37.509.50mean7.14583333332.1915.82142857145.5357142857

NV009V440230Stdev8.363324654415.7182000619

NV025V500Count2414

NV032V6162.52622.5Sqrt4.89897948563.7416573868

NV030V718.50250SEM1.70715649644.2008656692

NV016V8210390

NV054V91701100.0723360654

NV060V1000

NV061V1117.50

NV062V1215000

NV070V13020015

NV064V1418301520

NV065V1519.5000

NV100V160000

NV101V17002520

NV102V1800

NV103V1900

NV104V2000

NV105V2100

NV106V2200

NV107V2300

NV108V2400

joyceog wendynew wendy

NV030V72523.518.5

NV016V822.52621

NV054V923.52717

Laura:off study

Laura:off study

Laura:off treatment

DTH

1.7071564964

4.20086566924.2008656692

Orthogonal Mean (mm)

E39 DTH Response (mm)

Local Reaction

R0R1R2R3R4R5B1

NV015V33884.515077.550105Vax 1Vax 2Vax 3Vax 4Vax 5Vax 6B1

NV005V152.5101.5106171200210.5n1515141212125

NV033V228143.5137154.514165median42.56982.59495100.7597.5

NV009V41483.5120.512861127.5103.5mean45.565217391371.904761904893.3947368421105.470588235395.4666666667102.357142857197.25

NV25V50087

NV032V6759103134.510011491.5

NV030V749113190136102126135

NV016V842.578.579147.51219875.5Vax 1Vax 2Vax 3Vax 4Vax 5Vax 6Booster 1

NV054V951.592.5112.58897.5112103.5median42.56982.59495100.7597.25

NV060V1073.59846.5

NV061V117062.5

NV062V127059.581.594111.510374.5

NV070V13456963.564.576.545

NV064V146845.572.57274.574

NV065V15113.584.582.5105.56258.5

NV100V163547.570.58675.598.5

NV101V173864.593.586.59596

NV102V184085.55869

NV103V1954505672.564.5

NV104V20264265106

NV105V21did not present

NV106V2233.545.5

NV107V2382

NV108V2417

0.00388804070.05145904570.30687968230.44061529060.63902523620.72097308930

Mean45.565217391371.904761904893.3947368421105.470588235395.4666666667102.357142857197.25

Stdev26.169163127930.399267691736.368705620933.46755452538.274603042939.816129593722.4805471464

Count2321191715146

Sqrt4.79583152334.5825756954.35889894354.12310562563.87298334623.74165738682.4494897428

SEM5.4566477166.63366406048.34355328998.11707425529.882460011210.64130824349.1776449412

0.02345634050.5131632142

0.04717082220.7605079717

Laura:recurrence/off study

Laura:no dose reduction

Laura:off study

Laura:OFF TX

Local Reaction

5.4566477165.456647716

6.63366406046.6336640604

8.34355328998.3435532899

8.11707425528.1170742552

9.88246001129.8824600112

10.641308243410.6413082434

9.17764494129.1776449412

*


E39 Local Reaction

Max Toxicity

Max ToxicityLocal GradeSystemic Grade

NV015V3VAX#11Induration0No adverse eventLocalSystemic0123401234

NV015V3VAX#21Erythema0No adverse eventNV015V3110%96%4%0%0%9%56.5%26.1%4.30%4.30%

NV015V3VAX#21PruritusNV005V112red numbers are for graph purposes only

NV015V3VAX#21IndurationNV033V211

NV015V3VAX#31Erythema0No adverse eventNV009V411

NV015V3VAX#31PruritusNV025V511


NV015V3VAX#41Induration1FatigueNV030V712

NV015V3VAX#41Pruritus1MalaiseNV016V811

NV015V3VAX#41ErythemaNV054V912

NV015V3VAX#51Erythema0No adverse eventNV060V1013possibly related






NV005V1VAX#11Induration1HeadacheNV100V1611

NV005V1VAX#11FlushingNV101V1711

NV005V1VAX#21Erythema1FlushingNV102V1814possibly related



NV005V1VAX#31Erythema1NauseaNV16V8 had a grade 3 SAE for low WBC, but the attribution is unlikely related, so it isn't includedNV106V2211

NV005V1VAX#31Pruritus1FlushingNV107V2310


NV005V1VAX#41Erythema1Arthralgias

NV005V1VAX#41Pruritus2Joint Effusion

NV005V1VAX#41Induration



NV005V1VAX#51IndurationGradeLocalSystemic

NV005V1VAX#61Erythema1Arthralgias000.00%28.7%

NV005V1VAX#61Pruritus12296%1356.5%

NV005V1VAX#61Induration214%626.1%

NV033V2VAX#11Induration1Fatigue300%14.3%

NV033V2VAX#11Erythema400%14.3%

NV033V2VAX#11Pruritus2323

NV033V2VAX#21Erythema1Flushing

NV033V2VAX#21Pruritus


NV033V2VAX#31Erythema1Headache

NV033V2VAX#31Pruritus1Dizziness


NV033V2VAX#41Erythema0No adverse event









NV009V4VAX#11Pruritus0No adverse event





NV009V4VAX#31Erythema1Bone Pain

NV009V4VAX#31Induration1Fatigue

NV009V4VAX#31Pruritus1Headache





NV009V4VAX#51Induration1Headache




NV009V4Booster#11Erythema1Arthralgias

NV009V4Booster#11Pruritus1Back Pain

NV009V4Booster#11Induration1Fatigue

NV025V5VAX#11Erythema1Diarrhea

NV025V5VAX#11GI pain



NV025V5VAX#2




NV032V6VAX#11Erythema1Back Pain

NV032V6VAX#11Pruritus1Diarrhea








NV032V6VAX#41Erythema1Fatigue


NV032V6VAX#41Nausea



NV032V6VAX#51Bruising



NV032V6Booster#11Erythema1Bone Pain

NV032V6Booster#11Pruritus

NV032V6Booster#11Induration







NV030V7VAX#21Burning













NV030V7Booster#11Erythema1Neuropathy

NV030V7Booster#11Pruritus1Arthralgias

NV030V7Booster#11Induration1Headache

NV030V7Booster#11Malaise

NV030V7Booster#12Maculo-papular rash








NV016V8VAX#41Pruritus1Nausea

NV016V8VAX#41Induration1Neuropathy

NV016V8VAX#41Dizziness

NV016V8VAX#41Insomnia
















NV054V9VAX#31Erythema2Neuropathy












NV054V9Booster#11Erythema0No adverse event






NV060V10VAX#11Malaise


NV060V10VAX#21Induration1Arthralgias

NV060V10VAX#21Pruritus1Fatigue


NV060V10VAX#21Nausea




NV060V10VAX#31Myalgias

NV060V103Cardiac disorder






NV062V12VAX#11Induration1Bone Pain

NV062V12VAX#11Fatigue











NV062V12VAX#41Induration1Malaise



NV062V12VAX#51Pruritus1Malaise











NV070V13VAX#21Pain




NV070V13VAX#31Pain at site
















NV064V14Delayed2DUR: Urticarial lesion (Left buttock)


















NV064V14Booster#11Erythema1Headache














NV065V15VAX#51Pruritus1Chills


NV065V15VAX#51Headache








NV100V16VAX#31Erythema1Malaise



NV100V16VAX#41Erythema1Abdominal pain






















NV0101V17VAX#61Erythema


NV102V18VAX#12Fever




NV102V18VAX#21Pruritus1Fever


NV102V18VAX#24Sepsispossiblydelayed



NV102V18VAX#24Cellulitispossiblydelayed








NV103V19VAX#21Discomfort



NV103V19VAX#41Erythema1Chills





NV104V20VAX#11Induration1Chills

NV104V20VAX#11Neuropathy










NV106V22VAX#11Induration0No adverse event







Laura:delayed

Laura:possibly related


Max Toxicity

% of Subjects

E39 Maximum Toxicity

Recurrence

VaccineControl

Number of Recurrences911

Total patient2922

% recurred31.0%50.0%

Recurrence

% of Subjects

Recurrence

Chart1

0.3103448276

0.5

*p=0.17

% of Subjects

Recurrence

Demographics


















































Vac6119,4,212 pos2.515334

Cont5918,2,212 pos0.916666666711335

pvalue10.33672648630.73,0.67, 10.770.2308385170.56110.714

Demographics

VaccinatedControl

n2522

Age (mean)6159p=1

Nodes30.92p=0.23


Mod Grade42p=0.67


Stage I33p=1

Stage II33p=1

Stage III1511p=0.56

Stage IV45p=0.714


Path_Stage

















































DTH


NV005V113.50480n242414147.145833333315.8214285714


NV015V37.509.50mean7.14583333332.1915.82142857145.5357142857

NV009V440230Stdev8.363324654415.7182000619

NV025V500Count2414

NV032V6162.52622.5Sqrt4.89897948563.7416573868

NV030V718.50250SEM1.70715649644.2008656692

NV016V8210390

NV054V91701100.0723360654

NV060V1000

NV061V1117.50

NV062V1215000

NV070V13020015

NV064V1418301520

NV065V1519.5000

NV100V160000

NV101V17002520

NV102V1800

NV103V1900

NV104V2000

NV105V2100

NV106V2200

NV107V2300

NV108V2400


NV030V72523.518.5

NV016V822.52621

NV054V923.52717

Laura:off study

Laura:off study

Laura:off treatment

DTH

1.7071564964

4.20086566924.2008656692



Local Reaction

R0R1R2R3R4R5B1


NV005V152.5101.5106171200210.5n1515141212125

NV033V228143.5137154.514165median42.56982.59495100.7597.5

NV009V41483.5120.512861127.5103.5mean45.565217391371.904761904893.3947368421105.470588235395.4666666667102.357142857197.25

NV25V50087

NV032V6759103134.510011491.5

NV030V749113190136102126135


NV054V951.592.5112.58897.5112103.5median42.56982.59495100.7597.25

NV060V1073.59846.5

NV061V117062.5

NV062V127059.581.594111.510374.5

NV070V13456963.564.576.545

NV064V146845.572.57274.574

NV065V15113.584.582.5105.56258.5

NV100V163547.570.58675.598.5

NV101V173864.593.586.59596

NV102V184085.55869

NV103V1954505672.564.5

NV104V20264265106


NV106V2233.545.5

NV107V2382

NV108V2417

0.00388804070.05145904570.30687968230.44061529060.63902523620.72097308930

Mean45.565217391371.904761904893.3947368421105.470588235395.4666666667102.357142857197.25

Stdev26.169163127930.399267691736.368705620933.46755452538.274603042939.816129593722.4805471464

Count2321191715146

Sqrt4.79583152334.5825756954.35889894354.12310562563.87298334623.74165738682.4494897428

SEM5.4566477166.63366406048.34355328998.11707425529.882460011210.64130824349.1776449412

0.02345634050.5131632142

0.04717082220.7605079717



Laura:off study

Laura:OFF TX

Local Reaction

5.4566477165.456647716

6.63366406046.6336640604

8.34355328998.3435532899

8.11707425528.1170742552

9.88246001129.8824600112

10.641308243410.6413082434

9.17764494129.1776449412

*


E39 Local Reaction

Max Toxicity












































































NV025V5VAX#2















NV032V6VAX#41Nausea























































































































NV070V13VAX#21Pain

























































































NV102V18VAX#12Fever











































Laura:delayed



Max Toxicity

% of Subjects


Recurrence

VaccineControl


Total patient2922


Recurrence

% of Subjects

Recurrence

Chart1

0.3103448276

0.5

*p=0.17

% of Subjects

Recurrence

Demographics


















































Vac6119,4,212 pos2.515334

Cont5918,2,212 pos0.916666666711335

pvalue10.33672648630.73,0.67, 10.770.2308385170.56110.714

Demographics

VaccinatedControl

n2522

Age (mean)6159p=1

Nodes30.92p=0.23


Mod Grade42p=0.67


Stage I33p=1

Stage II33p=1

Stage III1511p=0.56

Stage IV45p=0.714


Path_Stage

















































DTH


NV005V113.50480n242414147.145833333315.8214285714


NV015V37.509.50mean7.14583333332.1915.82142857145.5357142857

NV009V440230Stdev8.363324654415.7182000619

NV025V500Count2414

NV032V6162.52622.5Sqrt4.89897948563.7416573868

NV030V718.50250SEM1.70715649644.2008656692

NV016V8210390

NV054V91701100.0723360654

NV060V1000

NV061V1117.50

NV062V1215000

NV070V13020015

NV064V1418301520

NV065V1519.5000

NV100V160000

NV101V17002520

NV102V1800

NV103V1900

NV104V2000

NV105V2100

NV106V2200

NV107V2300

NV108V2400


NV030V72523.518.5

NV016V822.52621

NV054V923.52717

Laura:off study

Laura:off study

Laura:off treatment

DTH

1.7071564964

4.20086566924.2008656692



Local Reaction

R0R1R2R3R4R5B1


NV005V152.5101.5106171200210.5n1515141212125

NV033V228143.5137154.514165median42.56982.59495100.7597.5

NV009V41483.5120.512861127.5103.5mean45.565217391371.904761904893.3947368421105.470588235395.4666666667102.357142857197.25

NV25V50087

NV032V6759103134.510011491.5

NV030V749113190136102126135


NV054V951.592.5112.58897.5112103.5median42.56982.59495100.7597.25

NV060V1073.59846.5

NV061V117062.5

NV062V127059.581.594111.510374.5

NV070V13456963.564.576.545

NV064V146845.572.57274.574

NV065V15113.584.582.5105.56258.5

NV100V163547.570.58675.598.5

NV101V173864.593.586.59596

NV102V184085.55869

NV103V1954505672.564.5

NV104V20264265106


NV106V2233.545.5

NV107V2382

NV108V2417

0.00388804070.05145904570.30687968230.44061529060.63902523620.72097308930

Mean45.565217391371.904761904893.3947368421105.470588235395.4666666667102.357142857197.25

Stdev26.169163127930.399267691736.368705620933.46755452538.274603042939.816129593722.4805471464

Count2321191715146

Sqrt4.79583152334.5825756954.35889894354.12310562563.87298334623.74165738682.4494897428

SEM5.4566477166.63366406048.34355328998.11707425529.882460011210.64130824349.1776449412

0.02345634050.5131632142

0.04717082220.7605079717



Laura:off study

Laura:OFF TX

Local Reaction

5.4566477165.456647716

6.63366406046.6336640604

8.34355328998.3435532899

8.11707425528.1170742552

9.88246001129.8824600112

10.641308243410.6413082434

9.17764494129.1776449412

*


E39 Local Reaction

Max Toxicity












































































NV025V5VAX#2















NV032V6VAX#41Nausea























































































































NV070V13VAX#21Pain

























































































NV102V18VAX#12Fever











































Laura:delayed



Max Toxicity

% of Subjects


Recurrence

VaccineControl


Total patient2922


Recurrence

% of Subjects

Recurrence

GALE-401

Anagrelide CR

GALE-401 ANAGRELIDE CONTROLLED RELEASE (CR)

Anagrelide

Active ingredient Reduces the elevated platelet count and the risk of thrombosis in patients with

myeloproliferative neoplasms (MPNs) MPNs are hematological malignancies in which the bone marrow cells develop and function

abnormally

Immediate Release

Approved for the treatment of patients with thrombocythemia, secondary to MPNs IR formulation can cause unacceptable side effects believed to be Cmax-related and has largely

limited the use due to early treatment withdrawal

GALE-401

Controlled Release (CR) formulation may decrease the frequency or severity of side effects Phase 2, Proof-of-Concept Trial Results

Well tolerated with primarily Grade 1 and 2 toxicities Efficacy compares favorably to historical anagrelide IR

14

ESSENTIAL THROMBOCYTHEMIA (ET):CURRENT STANDARD OF CARE

15

Generally first line therapy for ET Cytotoxic Myelosuppressive drug (reduces

other blood cells as well) Increased risk of developing acute leukemia

after long term; avoided in younger patients About 25% of patients are

intolerant/refractory

Limited third line use Non cytotoxic drug Not used in most patients because requires

injection and has flu like symptoms Used mostly in pregnant women

Generally second line Non cytotoxic drug Decreases platelets formation Not associated with increased risk of

leukemia Side effects: palpitations, headaches About one-third are intolerant to Anagrelide

Hydroxyurea and/or Anagrelide Treatment Failure

Sources: Leukemia and Lymphoma Society: Essential Thrombocythemia Facts Cervantes, F. Hematology 2011; 215-221

Hydroxyurea

Anagrelide IR

Interferon alpha

Unmet Need

CORPORATE OVERVIEW

16

FINANCIAL OVERVIEW

Cash Position (as of June 30, 2016) $19.6 million

Debt Financing (May 10, 2016) + $24 million (restricted cash)

Litigation Settlement (July 1, 2016) - $2.3 million

Projected Quarterly Burn $9 - $11 million

Shares Outstanding (as of March 31, 2016) 182 million

Market Cap (as of July 12, 2016) ~$75 million

17

July 2016 Financing $11.7 million (net proceeds)

Common Stock Issued 28,000,000 shares

2016 MILESTONES

18

PROGRAM MILESTONEPROJECTED

DATE

NeuVax(nelipepimut-S)

PRESENT: Achieve 70 Qualifying DFS Events Fast Track Designation PRESENT: Interim analysis Stopped

Initiate DCIS trial Q2

Combo H&N 1+/2+ Interim safety data Q4

GALE-301GALE-302

Present 301/302 booster data Present GALE-301 Phase 2a two year data Orphan Drug Designation Present GALE-301 Biomarker & Dosing Data Q4

GALE-401 (anagrelide CR)

Present combined safety data Confirmation of 505(b)2 pathway 2H

Publish final Phase 2 report Q4

LEADERSHIP TEAM

19

Mark W. Schwartz, Ph.D., President & CEOApthera, Bayhill Therapeutics, Calyx Therapeutics, Trega Biosciences, Incyte Genomics, DuPont Diagnostics

Bijan Nejadnik, M.D., Executive Vice President, Chief Medical Officer Jazz Pharmaceuticals, Johnson & Johnson, Stanford, Johns Hopkins, UC Davis

Remy Bernarda, SVP, Investor Relations & Corporate CommunicationsIR Sense, Hana Biosciences, Knight Equity Markets, Bear Stearns, Goldman Sachs

Gavin Choy, Pharm.D., SVP, Clinical Sciences & OperationsOtsuka, Astex, SuperGen, Hana Biosciences, Gilead, Stanford University Medical Center, Department of Veteran Affairs

Tom Knapp, Esq., Interim General Counsel Sucampo, Exemplar Law Partners, NorthWestern Energy, Paul Hastings, The Boeing Company

Joe Lasaga, VP, Business Development & Alliance ManagementNektar Therapeutics, Rigel

Pat Murphy, VP, Regulatory Affairs & ComplianceNektar Therapeutics, Bayhill Therapeutics, Berlex Laboratories, Serono, Parexel, Biogen

WHY WERE HERE

20Source: San Antonio Express E75 vaccine's final tests start in S.A. By Don Finley, January 22, 2012; Photo credit: Kin Man Hui/San Antonio Express-News/ZUMAPress

I've had several friends who've had (breast cancer) and thenit came back and they had to go through treatment again. So this would be wonderful, not to have to come back.

First NeuVax Phase 3 patient

THANK YOU

2016 ANNUAL MEETING OF STOCKHOLDERSFORWARD LOOKING STATEMENTDEVELOPMENT PIPELINEPRESENT CURRENT STATUSIMMUNO-ONCOLOGY:UNLOCKING THE POWER OF THE T-CELLLACK OF REACTIVE T-CELLS MAY RENDER SOME TOOLS INEFFECTIVE IN MANY CANCERSOUR VACCINES STIMULATE T-CELL PROLIFERATION AND EXPANSIONNOVEL DEVELOPMENT STRATEGY: SECONDARY PREVENTION IN CANCER SURVIVORSNEUVAX: DEVELOPMENT COLLABORATIONSGALE-301 & GALE-302GALE-301 & GALE-302:CURRENT CLINICAL DEVELOPMENT GALE-301: OPTIMAL DOSE GROUP SHOWS PRELIMINARY EFFICACYGALE-401GALE-401 ANAGRELIDE CONTROLLED RELEASE (CR)ESSENTIAL THROMBOCYTHEMIA (ET):CURRENT STANDARD OF CARECORPORATE OVERVIEWFINANCIAL OVERVIEW2016 MILESTONESLEADERSHIP TEAMWHY WERE HERETHANK YOU