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Peregrine Pharmaceuticals Remains on Track to Advance its Three Lead Clinical Programs in 2008
Date:12/20/2007

I multiple-dose HCV trial were presented that showed bavituximab was well tolerated and demonstrated encouraging signs of anti-viral activity.

Cotara(R) Brain Cancer Clinical Program

To help accelerate the ongoing Phase II trial of Cotara in patients with glioblastoma multiforme, one of the most deadly forms of brain cancer, Peregrine recently added two new sites to the study, for a total of seven clinical sites now actively screening and recruiting patients. In addition, Peregrine regained operational responsibility for the ongoing Cotara dosimetry and dose confirmation clinical study and is working closely with the participating academic medical centers to complete patient enrollment and dosing during 2008. Positive results from these two clinical trials are expected to pave the way for Phase III product registration trials for Cotara.

Mr. King concluded, "In 2008 we plan to conduct a number of mid-phase trials for our lead clinical programs, each of which has significant clinical and commercial potential. We have long maintained that positive Phase II clinical data would be the keys to building sustainable shareholder value in the company, and we are optimistic that Peregrine will be able to begin delivering on that promise in the upcoming year."

About Peregrine Pharmaceuticals, Inc.

Peregrine Pharmaceuticals, Inc. is a biopharmaceutical company with a portfolio of innovative product candidates in clinical trials for the treatment of cancer and hepatitis C virus (HCV) infection. The company is pursuing three separate clinical programs in cancer and HCV infection with its lead product candidates bavituximab and Cotara(R). Peregrine also has in-house manufacturing capabilities through its wholly owned subsidiary Avid Bioservices, Inc. (http://www.avidbio.com), which provides development and bio-manufacturing services for both Peregrine and outside customers. Additional informatio
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SOURCE Peregrine Pharmaceuticals, Inc.
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