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Peregrine Pharmaceuticals Reports Positive Results From Phase II Bavituximab Lung Cancer Trial
Date:10/5/2009

II trials in advanced lung cancer and advanced breast cancer. Interim results in all of these trials were encouraging, with objective tumor response rates that compare favorably to chemotherapy alone. Enrollment in the three trials is now complete and patient treatment and follow-up are continuing.

About Peregrine Pharmaceuticals

Peregrine Pharmaceuticals, Inc. is a biopharmaceutical company with a portfolio of innovative monoclonal antibodies in clinical trials for the treatment of cancer and serious viral infections. The company is pursuing three separate clinical programs in cancer and HCV infection with its lead product candidates bavituximab and Cotara®. Peregrine also has in-house manufacturing capabilities through its wholly owned subsidiary Avid Bioservices, Inc. (www.avidbio.com), which provides development and biomanufacturing services for both Peregrine and outside customers. Additional information about Peregrine can be found at www.peregrineinc.com.

Safe Harbor Statement: Statements in this press release which are not purely historical, including statements regarding Peregrine Pharmaceuticals' intentions, hopes, beliefs, expectations, representations, projections, plans or predictions of the future are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements involve risks and uncertainties including, but not limited to, the risk that the standard carboplatin and paclitaxel response rate will not be improved as a result of the combination therapy and the risk that the results of the subsequent stage for this trial will not be consistent with the results of the first stage. Factors that could cause actual results to differ materially or otherwise adversely impact the company's ability to obtain regulatory approval for its product cand
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SOURCE Peregrine Pharmaceuticals, Inc.
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