Peregrine Pharmaceuticals Inc. (NASDAQ: PPHM) is a year-end winner in small-cap biotech and emerging pharma based upon hepatitis-C Phase II trial data. The preliminary data shows that antiviral activity and a positive safety profile at both bavituximab doses were evaluated.
The randomized Phase II bavituximab study was conducted in patients who were infected with genotype-1 chronic hepatitis C virus and the study was a three-arm study with one of two doses of bavituximab or pegylated interferon alpha-2a combined with ribavirin. The preliminary data analysis indicates safety and it was well tolerated with patients reporting fewer side effects than in the interferon-containing arm.
Preliminary data indicates that both doses demonstrated antiviral activity, but the patients who received the 0.3 mg/kg dosing level showed to have more pronounced antiviral effects.
Shares are up 7% at $106 right after the open and the 52-week trading range is $0.85 to $3.10. After today’s pop, Peregrine has a market cap of nearly $94 million.
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