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

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  • Reported that the company's anti-PS technology was positively highlighted in scientific sessions at the AIDS Vaccine 2008 conference in Cape Town, South Africa.
  • Other Developments

    • Entered into a loan agreement for up to $10 million in funding to finance ongoing development efforts.
    • Avid Bioservices signed a manufacturing supply agreement with Catalyst Biosciences, Inc. to produce clinical-grade material in support of their candidate to treat acute bleeding in hemophilia patients.
    • Avid Bioservices expanded its biomanufacturing capabilities with the installation of two Thermo Scientific HyClone Single-Use Bioreactors, which further enhance Avid's ability to meet the growing demand for its cell culture production services.
    • Received a letter from NASDAQ that provides Peregrine with additional time to regain compliance with NASDAQ's $1.00 minimum bid price rule. Peregrine now has until April 27, 2009 to regain compliance.
    • Received shareholder approval at the Annual Meeting of Stockholders held on October 21, 2008, for a proposal that provides the company's Board of Directors with discretionary authority over the course of the next year to implement a reverse split of the issued and outstanding shares of Peregrine's common stock.

    Conference Call

    The company will host a conference call today, December 10, 2008 at 11:30 a.m. EST/8:30 a.m. PST to discuss its Second Quarter FY 2009 financial results.

    To listen to a live broadcast of the call over the Internet or to review the archived call, please visit: http://www.peregrineinc.com. The webcast will be archived on Peregrine's website for approximately 30 days.

    To listen to the conference ca
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    SOURCE Peregrine Pharmaceuticals, Inc.
    Copyright©2008 PR Newswire.
    All rights reserved

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