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

rine Pharmaceuticals, Inc. disclaims any obligation, and does not undertake to update or revise any forward-looking statements in this press release.

    Contacts:
    Investors                                  Media
    info@peregrineinc.com                      GendeLLindheim BioCom Partners
    (800) 987-8256                             Barbara Lindheim
                                               (212) 918-4650

    PEREGRINE PHARMACEUTICALS, INC.

    CONDENSED CONSOLIDATED BALANCE SHEETS

                                                      OCTOBER 31,   APRIL 30,
                                                         2008         2008
                                                      Unaudited
    ASSETS

    CURRENT ASSETS:
    Cash and cash equivalents                        $8,210,000  $15,130,000
    Trade and other receivables                       1,747,000      605,000
    Government contract receivables                     837,000            -
    Inventories, net                                  6,700,000    2,900,000
    Prepaid expenses and other current assets         1,142,000    1,208,000

          Total current assets                       18,636,000   19,843,000

    PROPERTY:
    Leasehold improvements                              675,000      669,000
    Laboratory equipment                              4,247,000    4,140,000
    Furniture, fixtures and office equipment            919,000      919,000

                                                      5,841,000    5,728,000
    Less accumulated depreciation and amortization   (3,931,000)  (3,670,000)

           Property, net                              1,910,000    2,058,000

    Other assets                                      1,201,000    1,156,000

    TOTAL ASSETS                                    $21,747,000  $23,05
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SOURCE Peregrine Pharmaceuticals, Inc.
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