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Peregrine Pharmaceuticals Reports Financial Results for Fiscal Year 2008
Date:7/14/2008

r progress in all areas of our business," said Steven W. King, president and CEO of Peregrine. "The most significant developments included initiating, completing enrollment in and reporting positive data for the first set of patients in our first bavituximab Phase II oncology study, entering into a five-year contract potentially worth up to $44.4 million with the Defense Threat Reduction Agency (DTRA) to expedite evaluation of bavituximab for the prevention or treatment of viral hemorrhagic fever infections and achieving significantly increased revenues and an expanded client base at our manufacturing subsidiary Avid. We expect to continue building on these accomplishments during FY 2009 and we are optimistic that the company will achieve even more significant advances during the coming year."

Mr. King continued, "Our most significant product advancements this year were in the bavituximab clinical program. In the anti-cancer program, we were able to start and complete patient enrollment in the planned first set of 15 patients in a Phase II breast cancer trial combining bavituximab and the chemotherapy drug docetaxel. The trial has already met the pre-established primary endpoint with none of the patients having any tumor growth to date and half of the patients achieving an objective tumor response by the first eight-week evaluation point. These are encouraging results and open the door to expanding the trial to an additional planned 31 patients. We also initiated patient enrollment in a second Phase II study combining bavituximab with carboplatin and paclitaxel in patients with advanced lung cancer. A third Phase II study is set to begin shortly testing this same combination in advanced breast cancer patients. In addition, the bavituximab cancer program received significant attention when positive data from an earlier Phase l study was presented at the 2008 ASCO Annual Meeting. These developments have set the stage for what we expect to be additional signific
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SOURCE Peregrine Pharmaceuticals, Inc.
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Related biology technology :

1. Peregrine Pharmaceuticals Awarded DTRA Contract Worth up to $44.4 Million to Develop Bavituximab for Viral Hemorrhagic Fevers
2. Peregrine Pharmaceuticals Presents Promising Phase I Data at ASCO and Provides Clinical Update on Its Phase II Bavituximab Breast Cancer Study
3. Peregrine Pharmaceuticals Reports Studies Published in Science Highlight Key Role of Phosphatidylserine (PS) in Viral Infections
4. Peregrine Pharmaceuticals Announces Four Upcoming Presentations at the American Association for Cancer Research 2008 Annual Meeting
5. Peregrine Pharmaceuticals Reports Financial Results for the Third Quarter of Fiscal Year 2008
6. Peregrine Pharmaceuticals to Announce Third Quarter FY 2008 Financial Results
7. Publication in Clinical Cancer Research Confirms Ability of Peregrines Bavituximab to Target Tumor Blood Vessels with Excellent Specificity
8. Peregrine Pharmaceuticals Doses First Patient in Phase II Clinical Trial of Bavituximab in Patients With Advanced Breast Cancer
9. Peregrine Pharmaceuticals to Present at the 10th Annual BIO CEO & Investor Conference
10. Peregrine Pharmaceuticals Remains on Track to Advance its Three Lead Clinical Programs in 2008
11. Defense Threat Reduction Agency Halts Contract Negotiations With Peregrine Pharmaceuticals as It Suffers $100 Million Cut in FY 2008 Budget for Its Transformational Medical Technologies Initiative (TMTI) Program
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