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Peregrine Pharmaceuticals Regains Full Compliance With Nasdaq Continued Listing Requirements
Date:11/3/2009

TUSTIN, Calif., Nov. 3 /PRNewswire-FirstCall/ -- Peregrine Pharmaceuticals, Inc. (Nasdaq: PPHMD) today announced that on November 3, 2009, the Company received notice from the NASDAQ Market Listing Qualifications Department stating that it has regained compliance with the minimum bid price rule for the continued listing of its common stock on the NASDAQ Capital Market, as set forth in NASDAQ Marketplace Rule 5550(a)(2).

Pursuant to NASDAQ's rules, Peregrine was required to evidence a closing bid price of at least $1.00 per share for 10 consecutive trading days. The letter received from NASDAQ confirms that this requirement has been met and that Peregrine is now in full compliance with all NASDAQ continued listing requirements. As a result, Peregrine's shares will continue to trade on the NASDAQ Capital Market.

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, pl
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SOURCE Peregrine Pharmaceuticals, Inc.
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