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Data Presented at AACR Meeting Show Peregrine's Bavituximab,Equivalent Can Generate Curative Immune Responses as Part of a,Vaccine-Like Regimen in Preclinical Models of Aggressive Brain,Cancer

research agreement with Peregrine Pharmaceuticals Inc.

Number 4091: Enhancing the immunogenicity of glioma cells with anti- phosphatidylserine antibody, Jin He, Troy A. Luster, Philip E. Thorpe. UT Southwestern Medical Center, Dallas, TX, Apr 17, 2007, 8:00 AM - 12:00 PM EDT

About Peregrine Pharmaceuticals

Peregrine Pharmaceuticals, Inc. is a biopharmaceutical company with a portfolio of innovative product candidates in clinical trials for the treatment of cancer and hepatitis C virus (HCV) infection. The company is pursuing three separate clinical programs for HCV infection and a range of solid cancers in the U.S. and India with its lead product candidates bavituximab and Cotara(R). Peregrine also has in-house manufacturing capabilities through its wholly owned subsidiary Avid Bioservices, Inc. (www.avidbio.com), which provides development and bio-manufacturing 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 pre-clinical animal model efficacy results will not correlate to efficacy studies in human clinical trials, the risk that future studies will not support a potential role for anti-PS therapies, such as bavituximab, as an immune-enhancing cancer vaccine, and the risk that future studies may not support the initiation of human clinical trials. It is important to note that the company'
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