( s actual results could differmateriall...)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,Health

s actual results could differ materially from those in any such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, uncertainties associated with completing preclinical and clinical trials for our technologies; the early stage of product development; the significant costs to develop our products as all of our products are currently in development, preclinical studies or clinical trials; obtaining additional financing to support our operations and the development of our products; obtaining regulatory approval for our technologies; anticipated timing of regulatory filings and the potential success in gaining regulatory approval and complying with governmental regulations applicable to our business. Our business could be affected by a number of other factors, including the risk factors listed from time to time in the Company's SEC reports including, but not limited to, the annual report on Form 10-K for the year ended April 30, 2006 and the quarterly report on Form 10-Q for the quarter ended January 31, 2007. The Company cautions investors not to place undue reliance on the forward-looking statements contained in this press release. Peregrine Pharmaceuticals, Inc. disclaims any obligation, and does not undertake to update or revise any forward-looking statements in this press release

     Contacts:

     GendeLLindheim BioCom Partners

     Investors                             Media

                      Barbara Lindheim

     (800) 987-8256                        (212) 918-4650

info@peregrineinc.com

CONTACT: Investors, GendeLLindheim BioCom Partners, +1-800-987-8256,, or Media, Barbara Lindheim of GendeLLindheim BioComPartners, +1-212-918-4650, for Peregrine Pharmaceuticals, Inc. info@peregrineinc.com

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