Date:9/9/2008

elopment; the significant costs to develop our products as all of our products are currently in development, preclinical studies or clinical trials; obtaining additional financing to support our operations and the development of our products; obtaining regulatory approval for our technologies; anticipated timing of regulatory filings and the potential success in gaining regulatory approval and complying with governmental regulations applicable to our business. Our business could be affected by a number of other factors, including the risk factors listed from time to time in the Company's SEC reports including, but not limited to, the annual report on Form 10-K for the year ended April 30, 2008. The company cautions investors not to place undue reliance on the forward-looking statements contained in this press release. Peregrine Pharmaceuticals, Inc. disclaims any obligation, and does not undertake to update or revise any forward-looking statements in this press release.

Contacts:

GendeLLindheim BioCom Partners

Investors Media

info@peregrineinc.com Barbara Lindheim

(800) 987-8256 (212) 918-4650

PEREGRINE PHARMACEUTICALS, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

JULY 31, APRIL 30,

2008 2008

Unaudited

ASSETS

CURRENT ASSETS:

Cash and cash equivalents $9,963,000 $15,130,000

Trade and other receivables 2,099,000 605,000

Government contract receivables 1,794,000 -

Inventories, net 4,628,000 2,900,000

Prepaid expenses and other current assets 1,198,000 1,208,000

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SOURCE Peregrine Pharmaceuticals, Inc. Copyright©2008 PR Newswire. All rights reserved

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