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Peregrine Pharmaceuticals Reports Positive Data in Second Phase II Bavituximab Breast Cancer Trial
Date:4/27/2009

- Updated Data from Initial Cohort Shows Nine of 14 Evaluable Patients Receiving Bavituximab in Combination with Carboplatin + Paclitaxel Achieved an Objective Tumor Response -

- Patient Dosing Underway in Expansion Stage of Trial with Target of Enrolling 46 Patients Overall -

TUSTIN, Calif., April 27 /PRNewswire-FirstCall/ -- Peregrine Pharmaceuticals, Inc. (Nasdaq: PPHM), today announced that updated preliminary data from its Phase II trial evaluating bavituximab in combination with carboplatin and paclitaxel in advanced breast cancer showed that nine of 14 evaluable patients in the initial cohort achieved an objective tumor response after a maximum of six treatment cycles according to RECIST criteria. The company also reported that patient dosing is underway in the expansion stage of the trial, which will enroll an additional 31 patients for a total of 46 advanced breast cancer patients overall.

"We are pleased to see these additional objective tumor responses in these advanced breast cancer patients who received up to six treatment cycles of bavituximab and chemotherapy," said Steven W. King, president and CEO of Peregrine. "These updated results further strengthen the positive data we reported in February after two treatment cycles, which had already exceeded the pre-defined number of objective tumor responses needed to expand the trial to the larger cohort."

Mr. King added, "While preliminary, these data along with early positive data from our other two bavituximab Phase II cancer trials are increasing our optimism that bavituximab in combination with chemotherapy could prove to be a valuable new option for the treatment of a variety of solid cancers. We look forward to reporting data from this expanded trial in the coming months."

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SOURCE Peregrine Pharmaceuticals, Inc.
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