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Peregrine Pharmaceuticals Reports Financial Results for the First Quarter of Fiscal Year 2009
Date:9/9/2008

ompleted Phase I study of bavituximab in combination with chemotherapy in patients with advanced cancer at the 2008 ASCO Annual Meeting.

Bavituximab Anti-Viral Program

The company continued to advance its bavituximab anti-viral program and was awarded a major government contract to assess the potential of bavituximab in viral hemorrhagic fevers.

-- Entered into a five-year contract potentially worth up to $44.4 million with the Department of Defense's DTRA to evaluate bavituximab for the prevention and treatment of viral hemorrhagic fever infections.

-- Continued to enroll and dose patients in an ongoing Phase I clinical trial of bavituximab in HCV patients co-infected with HIV.

-- Reported two major studies that were published in the journal Science, which highlighted the key role of phosphatidylserine (PS) in viral infections. Peregrine's bavituximab is an anti-PS agent.

-- Was awarded two patents granting Peregrine broad anti-viral method claims using a range of phosphatidylethanolamine (PE) binding agents, including PE-binding peptides attached to anti-viral agents as well as those conjugated to antibodies or other substances. These patents are a potentially valuable complement to other Peregrine anti-phospholipid programs.

Cotara(R) Brain Cancer Program:

Peregrine advanced the Cotara brain cancer program during the quarter.

-- Presented data from the Cotara dosing and dosimetry study at the ASCO 2008 Annual Meeting showing that Cotara concentrates in the brain tumor rather than affecting healthy organs. This data confirms a key safety attribute of Cotara -- its ability to precisely target tumors. All of the patients in the cohort presented have already surpassed the expected median survival time for relapsed GBM patients.

-- Continued to enroll and dose patients in the Phase II safety and efficacy trial and in the Phase I dosing and dosimetry trial in patients with GBM, the deadliest form of
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SOURCE Peregrine Pharmaceuticals, Inc.
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