{"id":2994,"date":"2012-09-25T19:09:03","date_gmt":"2012-09-25T23:09:03","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/?p=2994"},"modified":"2012-09-25T19:09:03","modified_gmt":"2012-09-25T23:09:03","slug":"peregrine-pharmaceuticals-rebounds-after-bad-trial-data","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/peregrine-pharmaceuticals-rebounds-after-bad-trial-data-2994","title":{"rendered":"Peregrine Pharmaceuticals Rebounds After Bad Trial Data"},"content":{"rendered":"

A few days ago, Peregrine Pharmaceuticals (PPHM)\u00a0was a $500 million company. Yesterday, it fell below $80 million. Today, it is worth $177 million. Needless to say, investors are feeling the whiplash, and they certainly have a fair share of questions.<\/p>\n

Yesterday,\u00a0Peregrine Pharma\u00a0dropped sharply in pre-market trading due to serious<\/a>\u00a0problems\u00a0discovered in its bavituximab trial data.\u00a0The company told analysts that there were “major discrepancies” between treatment code assignments and\u00a0patient sample test results. It further instructed analysts to not rely upon the data until clarifications could be provided. Bavituximab is a candidate for lung cancer treatment.<\/p>\n

Joseph Pantginis from\u00a0Roth Capital Partners lowered<\/a> his price target to $0.70 from its prior heights of $9.00 while slashing his rating from Buy to Neutral. Yahoo Finance republished his comment from the report,\u00a0“Today’s news comes as a shock and we believe represents a major blow to confidence in the bavituximab program until the discrepancies can hopefully be worked out.”<\/p>\n

Peregrine\u00a0placed blame<\/a>\u00a0for the\u00a0trial data on errors allegedly committed by a contract researcher.\u00a0George Zavoico, a senior equity research analyst at MLV & Co., said<\/a> that some patients likely either received the drug or placebo by mistake. On an optimistic note, he added a remark about the company’s larger pipeline:\u00a0“They have multiple trials going on right now with this drug, and any one of these trials could play out positively.”<\/p>\n

Although far from its prior price levels above $5 per share, Peregrine nevertheless rebounded +46% from yesterday’s close of $1.16. At last check, Peregrine was trading at $1.70, providing the above mentioned market capitalization figure of $177 million.<\/p>\n

Trading volume today far exceeded the norm, with over 55 million shares trading hands today versus the average 8 million.<\/p>\n

Today at 8:30am ET, law firm\u00a0Bronstein, Gewirtz & Grossman, LLC announced that it was looking into<\/a> potential\u00a0violations of federal securities laws on behalf of Peregrine investors.\u00a0Likewise at 3:33pm ET, law firm Robbins Umeda LLP announced<\/a> that it had commenced an investigation into\u00a0“possible breaches of fiduciary duty and other violations of the law” related to the trial data and the sudden drop in share price.\u00a0Law firm investigation announcements are typical after sudden drops in share prices.<\/p>\n","protected":false},"excerpt":{"rendered":"

A few days ago, Peregrine Pharmaceuticals (PPHM)\u00a0was a $500 million company. Yesterday, it fell below $80 million. Today, it is worth $177 million. Needless to […]<\/p>\n","protected":false},"author":2,"featured_media":2995,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[260,264],"tags":[391],"stock_ticker":[],"class_list":["post-2994","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-advancers","category-health","tag-pphm","entry"],"acf":[],"yoast_head":"\nPeregrine Pharmaceuticals Rebounds After Bad Trial Data - Wall Street PR<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cablemanpro.com\/wallstreetpr\/peregrine-pharmaceuticals-rebounds-after-bad-trial-data-2994\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Peregrine Pharmaceuticals Rebounds After Bad Trial Data - Wall Street PR\" \/>\n<meta property=\"og:description\" content=\"A few days ago, Peregrine Pharmaceuticals (PPHM)\u00a0was a $500 million company. Yesterday, it fell below $80 million. Today, it is worth $177 million. Needless to […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cablemanpro.com\/wallstreetpr\/peregrine-pharmaceuticals-rebounds-after-bad-trial-data-2994\" \/>\n<meta property=\"og:site_name\" content=\"Wall Street PR\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/WallStreetPR\/\" \/>\n<meta property=\"article:published_time\" content=\"2012-09-25T23:09:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cablemanpro.com\/wallstreetpr\/wp-content\/uploads\/2012\/09\/3453453.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"884\" \/>\n\t<meta property=\"og:image:height\" content=\"408\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Donna Fago\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Donna Fago\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/cablemanpro.com\/wallstreetpr\/peregrine-pharmaceuticals-rebounds-after-bad-trial-data-2994#article\",\"isPartOf\":{\"@id\":\"https:\/\/cablemanpro.com\/wallstreetpr\/peregrine-pharmaceuticals-rebounds-after-bad-trial-data-2994\"},\"author\":{\"name\":\"Donna Fago\",\"@id\":\"https:\/\/cablemanpro.com\/wallstreetpr\/#\/schema\/person\/60ece280249b1fa366ae54f87bb8ae84\"},\"headline\":\"Peregrine Pharmaceuticals Rebounds After Bad Trial Data\",\"datePublished\":\"2012-09-25T23:09:03+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cablemanpro.com\/wallstreetpr\/peregrine-pharmaceuticals-rebounds-after-bad-trial-data-2994\"},\"wordCount\":367,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/cablemanpro.com\/wallstreetpr\/#organization\"},\"image\":{\"@id\":\"https:\/\/cablemanpro.com\/wallstreetpr\/peregrine-pharmaceuticals-rebounds-after-bad-trial-data-2994#primaryimage\"},\"thumbnailUrl\":\"https:\/\/cablemanpro.com\/wallstreetpr\/wp-content\/uploads\/2012\/09\/3453453.jpg\",\"keywords\":[\"PPHM\"],\"articleSection\":[\"Advancers\",\"Health\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/cablemanpro.com\/wallstreetpr\/peregrine-pharmaceuticals-rebounds-after-bad-trial-data-2994#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/cablemanpro.com\/wallstreetpr\/peregrine-pharmaceuticals-rebounds-after-bad-trial-data-2994\",\"url\":\"https:\/\/cablemanpro.com\/wallstreetpr\/peregrine-pharmaceuticals-rebounds-after-bad-trial-data-2994\",\"name\":\"Peregrine Pharmaceuticals Rebounds After Bad Trial Data - Wall Street PR\",\"isPartOf\":{\"@id\":\"https:\/\/cablemanpro.com\/wallstreetpr\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/cablemanpro.com\/wallstreetpr\/peregrine-pharmaceuticals-rebounds-after-bad-trial-data-2994#primaryimage\"},\"image\":{\"@id\":\"https:\/\/cablemanpro.com\/wallstreetpr\/peregrine-pharmaceuticals-rebounds-after-bad-trial-data-2994#primaryimage\"},\"thumbnailUrl\":\"https:\/\/cablemanpro.com\/wallstreetpr\/wp-content\/uploads\/2012\/09\/3453453.jpg\",\"datePublished\":\"2012-09-25T23:09:03+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/cablemanpro.com\/wallstreetpr\/peregrine-pharmaceuticals-rebounds-after-bad-trial-data-2994#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/cablemanpro.com\/wallstreetpr\/peregrine-pharmaceuticals-rebounds-after-bad-trial-data-2994\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/cablemanpro.com\/wallstreetpr\/peregrine-pharmaceuticals-rebounds-after-bad-trial-data-2994#primaryimage\",\"url\":\"https:\/\/cablemanpro.com\/wallstreetpr\/wp-content\/uploads\/2012\/09\/3453453.jpg\",\"contentUrl\":\"https:\/\/cablemanpro.com\/wallstreetpr\/wp-content\/uploads\/2012\/09\/3453453.jpg\",\"width\":884,\"height\":408},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/cablemanpro.com\/wallstreetpr\/peregrine-pharmaceuticals-rebounds-after-bad-trial-data-2994#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/cablemanpro.com\/wallstreetpr\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Peregrine Pharmaceuticals Rebounds After Bad Trial Data\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/cablemanpro.com\/wallstreetpr\/#website\",\"url\":\"https:\/\/cablemanpro.com\/wallstreetpr\/\",\"name\":\"Wall Street PR\",\"description\":\"Latest News From WallStreet\",\"publisher\":{\"@id\":\"https:\/\/cablemanpro.com\/wallstreetpr\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/cablemanpro.com\/wallstreetpr\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/cablemanpro.com\/wallstreetpr\/#organization\",\"name\":\"Wall Street PR\",\"url\":\"https:\/\/cablemanpro.com\/wallstreetpr\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/cablemanpro.com\/wallstreetpr\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/cablemanpro.com\/wallstreetpr\/wp-content\/uploads\/2019\/10\/brand-logo.png\",\"contentUrl\":\"https:\/\/cablemanpro.com\/wallstreetpr\/wp-content\/uploads\/2019\/10\/brand-logo.png\",\"width\":537,\"height\":70,\"caption\":\"Wall Street PR\"},\"image\":{\"@id\":\"https:\/\/cablemanpro.com\/wallstreetpr\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/WallStreetPR\/\",\"https:\/\/x.com\/WallstreetPRs\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/cablemanpro.com\/wallstreetpr\/#\/schema\/person\/60ece280249b1fa366ae54f87bb8ae84\",\"name\":\"Donna Fago\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/cablemanpro.com\/wallstreetpr\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/cablemanpro.com\/wallstreetpr\/wp-content\/uploads\/2019\/06\/f15db860f556e28a86f628554c98485b.jpeg\",\"contentUrl\":\"https:\/\/cablemanpro.com\/wallstreetpr\/wp-content\/uploads\/2019\/06\/f15db860f556e28a86f628554c98485b.jpeg\",\"caption\":\"Donna Fago\"},\"description\":\"I believe in writing content Informing investors with the knowledge they need to invest better today- I have been following the markets for many years and was asked to join the team at WallStreetPR.com recently due to my passion for the markets.\",\"sameAs\":[\"http:\/\/www.WallStreetPR.com\"],\"url\":\"https:\/\/cablemanpro.com\/wallstreetpr\/author\/darcie-fago\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Peregrine Pharmaceuticals Rebounds After Bad Trial Data - Wall Street PR","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/cablemanpro.com\/wallstreetpr\/peregrine-pharmaceuticals-rebounds-after-bad-trial-data-2994","og_locale":"en_US","og_type":"article","og_title":"Peregrine Pharmaceuticals Rebounds After Bad Trial Data - Wall Street PR","og_description":"A few days ago, Peregrine Pharmaceuticals (PPHM)\u00a0was a $500 million company. Yesterday, it fell below $80 million. Today, it is worth $177 million. Needless to […]","og_url":"https:\/\/cablemanpro.com\/wallstreetpr\/peregrine-pharmaceuticals-rebounds-after-bad-trial-data-2994","og_site_name":"Wall Street PR","article_publisher":"https:\/\/www.facebook.com\/WallStreetPR\/","article_published_time":"2012-09-25T23:09:03+00:00","og_image":[{"width":884,"height":408,"url":"https:\/\/cablemanpro.com\/wallstreetpr\/wp-content\/uploads\/2012\/09\/3453453.jpg","type":"image\/jpeg"}],"author":"Donna Fago","twitter_misc":{"Written by":"Donna Fago","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/cablemanpro.com\/wallstreetpr\/peregrine-pharmaceuticals-rebounds-after-bad-trial-data-2994#article","isPartOf":{"@id":"https:\/\/cablemanpro.com\/wallstreetpr\/peregrine-pharmaceuticals-rebounds-after-bad-trial-data-2994"},"author":{"name":"Donna Fago","@id":"https:\/\/cablemanpro.com\/wallstreetpr\/#\/schema\/person\/60ece280249b1fa366ae54f87bb8ae84"},"headline":"Peregrine Pharmaceuticals Rebounds After Bad Trial Data","datePublished":"2012-09-25T23:09:03+00:00","mainEntityOfPage":{"@id":"https:\/\/cablemanpro.com\/wallstreetpr\/peregrine-pharmaceuticals-rebounds-after-bad-trial-data-2994"},"wordCount":367,"commentCount":0,"publisher":{"@id":"https:\/\/cablemanpro.com\/wallstreetpr\/#organization"},"image":{"@id":"https:\/\/cablemanpro.com\/wallstreetpr\/peregrine-pharmaceuticals-rebounds-after-bad-trial-data-2994#primaryimage"},"thumbnailUrl":"https:\/\/cablemanpro.com\/wallstreetpr\/wp-content\/uploads\/2012\/09\/3453453.jpg","keywords":["PPHM"],"articleSection":["Advancers","Health"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/cablemanpro.com\/wallstreetpr\/peregrine-pharmaceuticals-rebounds-after-bad-trial-data-2994#respond"]}]},{"@type":"WebPage","@id":"https:\/\/cablemanpro.com\/wallstreetpr\/peregrine-pharmaceuticals-rebounds-after-bad-trial-data-2994","url":"https:\/\/cablemanpro.com\/wallstreetpr\/peregrine-pharmaceuticals-rebounds-after-bad-trial-data-2994","name":"Peregrine Pharmaceuticals Rebounds After Bad Trial Data - Wall Street PR","isPartOf":{"@id":"https:\/\/cablemanpro.com\/wallstreetpr\/#website"},"primaryImageOfPage":{"@id":"https:\/\/cablemanpro.com\/wallstreetpr\/peregrine-pharmaceuticals-rebounds-after-bad-trial-data-2994#primaryimage"},"image":{"@id":"https:\/\/cablemanpro.com\/wallstreetpr\/peregrine-pharmaceuticals-rebounds-after-bad-trial-data-2994#primaryimage"},"thumbnailUrl":"https:\/\/cablemanpro.com\/wallstreetpr\/wp-content\/uploads\/2012\/09\/3453453.jpg","datePublished":"2012-09-25T23:09:03+00:00","breadcrumb":{"@id":"https:\/\/cablemanpro.com\/wallstreetpr\/peregrine-pharmaceuticals-rebounds-after-bad-trial-data-2994#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/cablemanpro.com\/wallstreetpr\/peregrine-pharmaceuticals-rebounds-after-bad-trial-data-2994"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/cablemanpro.com\/wallstreetpr\/peregrine-pharmaceuticals-rebounds-after-bad-trial-data-2994#primaryimage","url":"https:\/\/cablemanpro.com\/wallstreetpr\/wp-content\/uploads\/2012\/09\/3453453.jpg","contentUrl":"https:\/\/cablemanpro.com\/wallstreetpr\/wp-content\/uploads\/2012\/09\/3453453.jpg","width":884,"height":408},{"@type":"BreadcrumbList","@id":"https:\/\/cablemanpro.com\/wallstreetpr\/peregrine-pharmaceuticals-rebounds-after-bad-trial-data-2994#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/cablemanpro.com\/wallstreetpr\/"},{"@type":"ListItem","position":2,"name":"Peregrine Pharmaceuticals Rebounds After Bad Trial Data"}]},{"@type":"WebSite","@id":"https:\/\/cablemanpro.com\/wallstreetpr\/#website","url":"https:\/\/cablemanpro.com\/wallstreetpr\/","name":"Wall Street PR","description":"Latest News From WallStreet","publisher":{"@id":"https:\/\/cablemanpro.com\/wallstreetpr\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/cablemanpro.com\/wallstreetpr\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/cablemanpro.com\/wallstreetpr\/#organization","name":"Wall Street PR","url":"https:\/\/cablemanpro.com\/wallstreetpr\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/cablemanpro.com\/wallstreetpr\/#\/schema\/logo\/image\/","url":"https:\/\/cablemanpro.com\/wallstreetpr\/wp-content\/uploads\/2019\/10\/brand-logo.png","contentUrl":"https:\/\/cablemanpro.com\/wallstreetpr\/wp-content\/uploads\/2019\/10\/brand-logo.png","width":537,"height":70,"caption":"Wall Street PR"},"image":{"@id":"https:\/\/cablemanpro.com\/wallstreetpr\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/WallStreetPR\/","https:\/\/x.com\/WallstreetPRs"]},{"@type":"Person","@id":"https:\/\/cablemanpro.com\/wallstreetpr\/#\/schema\/person\/60ece280249b1fa366ae54f87bb8ae84","name":"Donna Fago","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/cablemanpro.com\/wallstreetpr\/#\/schema\/person\/image\/","url":"https:\/\/cablemanpro.com\/wallstreetpr\/wp-content\/uploads\/2019\/06\/f15db860f556e28a86f628554c98485b.jpeg","contentUrl":"https:\/\/cablemanpro.com\/wallstreetpr\/wp-content\/uploads\/2019\/06\/f15db860f556e28a86f628554c98485b.jpeg","caption":"Donna Fago"},"description":"I believe in writing content Informing investors with the knowledge they need to invest better today- I have been following the markets for many years and was asked to join the team at WallStreetPR.com recently due to my passion for the markets.","sameAs":["http:\/\/www.WallStreetPR.com"],"url":"https:\/\/cablemanpro.com\/wallstreetpr\/author\/darcie-fago"}]}},"_links":{"self":[{"href":"https:\/\/cablemanpro.com\/wallstreetpr\/wp-json\/wp\/v2\/posts\/2994","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cablemanpro.com\/wallstreetpr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cablemanpro.com\/wallstreetpr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cablemanpro.com\/wallstreetpr\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/cablemanpro.com\/wallstreetpr\/wp-json\/wp\/v2\/comments?post=2994"}],"version-history":[{"count":0,"href":"https:\/\/cablemanpro.com\/wallstreetpr\/wp-json\/wp\/v2\/posts\/2994\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cablemanpro.com\/wallstreetpr\/wp-json\/wp\/v2\/media\/2995"}],"wp:attachment":[{"href":"https:\/\/cablemanpro.com\/wallstreetpr\/wp-json\/wp\/v2\/media?parent=2994"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cablemanpro.com\/wallstreetpr\/wp-json\/wp\/v2\/categories?post=2994"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cablemanpro.com\/wallstreetpr\/wp-json\/wp\/v2\/tags?post=2994"},{"taxonomy":"stock_ticker","embeddable":true,"href":"https:\/\/cablemanpro.com\/wallstreetpr\/wp-json\/wp\/v2\/stock_ticker?post=2994"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}