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Peregrine Pharmaceuticals Reports Financial Results for the Second Quarter of Fiscal Year 2009
Date:12/10/2008

ity 6,505,000 15,595,000 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $21,747,000 $23,057,000

    PEREGRINE PHARMACEUTICALS, INC.

    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

                               THREE MONTHS ENDED         SIX MONTHS ENDED

                           October 31,  October 31,  October 31,  October 31,
                              2008        2007          2008         2007
                           Unaudited    Unaudited     Unaudited    Unaudited

    REVENUES:
    Contract manufacturing
     revenue                $983,000   $1,863,000   $2,176,000    $3,484,000
    Government contract
     revenue                 958,000            -    1,282,000             -
    License revenue                -       29,000            -        33,000
       Total revenues      1,941,000    1,892,000    3,458,000     3,517,000

    COSTS AND EXPENSES:
    Cost of contract
     manufacturing           663,000    1,402,000    1,566,000     2,583,000
    Research and
     development           4,301,000    5,100,000    8,369,000     8,724,000
    Selling, general and
     administrative        1,527,000    1,943,000    3,233,000     3,651,000

       Total costs and
        expenses           6,491,000    8,445,000   13,168,000    14,958,000

    LOSS FROM OPERATIONS  (4,550,000)  (6,553,000)  (9,710,000)  (11,441,000)

    OTHER INCOME (EXPENSE):
    Interest and other
     income                   53,000      353,000      128,000       592,000
    Interest and other
     expense                       -       (7,000)      (1,000)      (14,000)

    NET LOSS             $(4,497,000) $(6,207,000) $(9,583,000) $(10,863,000)

    weighted average
       COMMON shares
        outstanding:
        Basic and
         Diluted         226,210,617  226,210,617  226,210,617   216,141,092

      BASIC AND DILUTED

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SOURCE Peregrine Pharmaceuticals, Inc.
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