quarter. The increase was
primarily related to Peregrine's increased investment in research and
development associated with the advancement of its three clinical programs
for bavituximab and Cotara(R) for the treatment of solid tumors and
hepatitis C virus (HCV) infection. Research and development expenses were
$4,068,000 in the first quarter of FY 2009, compared to $3,624,000 in the
first quarter of FY 2008. At July 31, 2008, the company had $9,963,000 in
cash and cash equivalents compared to $15,130,000 at fiscal year end April
30, 2008. In addition, liquid assets, representing cash and receivables,
were $13,856,000 at July 31, 2008 as compared with $15,735,000 at fiscal
year end April 30, 2008.
"Among the most significant developments this past quarter was having
patient enrollment underway in all three of the Phase II trials in our
bavituximab cancer program and reporting encouraging positive data from the
trial testing bavituximab in combination with docetaxel in advanced breast
cancer patients," said Steven W. King, president and CEO of Peregrine. "The
positive data from this trial showed that we had exceeded our
pre-determined criteria for proceeding to the next stage of the trial, with
half of patients demonstrating partial tumor responses. We are reporting
today that we have now seen additional patients with tumor responses in
this trial, with nine of the 14 evaluable patients having achieved a
partial tumor response. During the quarter, we also reported data from a
prior bavituximab cancer study and from our ongoing Cotara study in
glioblastoma (GBM) patients at the prestigious ASCO meeting, building a
promising foundation for future peer-reviewed presentations and
publications from our clinical programs."
Mr. King continued, "Our bavituximab anti-viral program received a
major validation during the quarter when we were awarded up to a five-year
contract potentially worth up to $44.4 million with the DTRA to evaluate
bavituximab for the treat
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SOURCE Peregrine Pharmaceuticals, Inc. Copyright©2008 PR Newswire. All rights reserved | |
Page: 1 2 3 4 5 6 7 8 9 10 Related biology technology :1.
Peregrine Pharmaceuticals to Report First Quarter FY 2009 Financial Results2.
Peregrine Pharmaceuticals Receives Letter from NASDAQ Citing Failure to Regain Compliance with Minimum Bid Price Rule3.
Peregrine Pharmaceuticals Reports Financial Results for Fiscal Year 20084.
Peregrine Pharmaceuticals Awarded DTRA Contract Worth up to $44.4 Million to Develop Bavituximab for Viral Hemorrhagic Fevers5.
Peregrine Pharmaceuticals Presents Promising Phase I Data at ASCO and Provides Clinical Update on Its Phase II Bavituximab Breast Cancer Study6.
Peregrine Pharmaceuticals Reports Studies Published in Science Highlight Key Role of Phosphatidylserine (PS) in Viral Infections7.
Peregrine Pharmaceuticals Announces Four Upcoming Presentations at the American Association for Cancer Research 2008 Annual Meeting8.
Peregrine Pharmaceuticals Reports Financial Results for the Third Quarter of Fiscal Year 20089.
Peregrine Pharmaceuticals to Announce Third Quarter FY 2008 Financial Results10.
Publication in Clinical Cancer Research Confirms Ability of Peregrines Bavituximab to Target Tumor Blood Vessels with Excellent Specificity11.
Peregrine Pharmaceuticals Doses First Patient in Phase II Clinical Trial of Bavituximab in Patients With Advanced Breast Cancer