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Data Presented at AACR Meeting Shows Peregrine's Immunocytokine,Fusion Proteins Reduce Growth of B-Cell Lymphoma Tumors by 85% in,Preclinical Studies

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

Web site: http://www.peregrineinc.com/

Ticker Symbol: (NASDAQ-NMS:PPHM)

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