Revenue Update on Peregrine Pharmaceuticals(NASDAQ:PPHM)

Peregrine Pharmaceuticals(NASDAQ:PPHM) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during After-hours on Jul 14, 2016. Company reported revenue of $18.78M. Analysts estimated a revenue of $15.80M. Earnings per share were $-0.05. Analysts had estimated an EPS of $-0.03.

Peregrine Pharmaceuticals (PPHM) made into the market gainers list on Mondays trading session with the shares advancing 2.65% or 0.0102 points. Due to strong positive momentum, the stock ended at $0.3953, which is also near the day’s high of $0.4. The stock began the session at $0.385 and the volume stood at 10,14,654 shares. The 52-week high of the shares is $1.37 and the 52 week low is $0.2934. The company has a current market capitalization of $95 M and it has 24,14,56,720 shares in outstanding.

Peregrine Pharmaceuticals Inc. is a biopharmaceutical company with a portfolio of monoclonal antibodies in clinical trials for the treatment and diagnosis of cancer. The Company has two platforms and is pursuing multiple clinical programs in cancer with its lead immunotherapy candidate bavituximab its phosphatidylserine (PS) targeting agent PGN65 and its brain cancer therapy Cotara. Bavituximab is the Company’s therapeutic PS-targeting antibody. PGN650 is its PS-targeting imaging agent. The Company is evaluating the bavituximab investigator-sponsored trials (IST) in front-line HER2-negative metastatic breast cancer liver cancer rectal adenocarcinoma and advanced melanoma. It is also evaluating PGN650 imaging in multiple solid tumor types. The Company`s Impavido biomanufacturing subsidiary Avid Bioservices Inc. provides commercial and clinical manufacturing services for the Company and third-party clients.

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