Peregrine Pharmaceuticals, Inc. (PPHM-NASDAQ) just issued a press release showing "Peregrine’s Selective Anti-VEGF Antibodies Inhibited Tumor Growth By 90% In a Preclinical Cancer Model" AND "Shows Peregrine’s Selective Anti-VEGF Antibodies are as Effective as Avastin(R) in Preclinical Cancer Models."
Keep in mind that these are "advancing toward Linical Trials" and the company is in the developmental stage of making targeted monoclonal antibodies for cancer and hapatitis C. This data is being presented at the Centennial Annual Meeting of the American Association for Cancer Research (AACR).
Here is the full press release. Shares are up 9% and this one is only a $1.15 stock after the jump. The 52-week trading range is $0.86 to $1.99; its market cap after the gain is $223 million. PPHM has almost no revenues and has a net book value upon last financial data of about $22.1 million.
Jon C. Ogg
April 16, 2007
Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.
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