Peregrine Pharmaceuticals (NASDAQ:PPHM) shares trading high

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Dallas, Texas 07/03/2013 (Financialstrend) – Peregrine Pharmaceuticals (NASDAQ:PPHM) announced on Tuesday that the company will present its financial results for the fourth quarter of the fiscal year 2013 on July 11, 2013. The company will host an after-market conference call on that day and the senior management at Peregrine Pharmaceuticals (NASDAQ:PPHM) will be available in the call to discuss the financial progress made by the company in the fiscal year ended on April 30, 2013, along with the future prospects in the pharmaceutical industry.

Shares of Peregrine Pharmaceuticals (NASDAQ:PPHM) closed at $1.45 on Tuesday, recording a gain of 8.21 percent. The share price ranged between $1.35 and $1.50 during the day, with a 52-week high of $5.50 and a 52-week low of $0.55 per share.

Peregrine Pharmaceuticals (NASDAQ:PPHM) recorded very high trading volumes of 3.15 million shares on Tuesday, with an average volume of 3.93 million shares per day. Peregrine Pharmaceuticals (NASDAQ:PPHM) currently has 137.11 million shares outstanding in the market, with a market cap of $198.81 billion and an institutional ownership of 9 percent of the total share capital.

Peregrine Pharmaceuticals (NASDAQ:PPHM) is a biopharmaceutical company that develops monoclonal antibodies for the treatment and diagnosis of cancer. Peregrine Pharmaceuticals’ (NASDAQ:PPHM) pipeline includes PS-targeting antibodies and DNA/histone-targeting antibodies. Bavituximab is a PS-targeting antibody, which has high therapeutic potential, and PGN650 is the PS-targeting imaging agent. Peregrine Pharmaceuticals (NASDAQ:PPHM) has three trails for bavituximab in line with chemotherapy for front-line and second-line non-small-cell lung cancer and front-line pancreatic cancer.

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