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Law Offices of Todd M. Garber Announces Investigation of Peregrine Pharmaceuticals, Inc.

LOS ANGELES--(BUSINESS WIRE)-- The Law Offices of Todd M. Garber announces that it is investigating potential claims against Peregrine Pharmaceuticals, Inc. (“Peregrine” or the “Company”) (NASDAQ:PPHM), concerning possible violations of federal securities laws. The investigation is related to certain statements issued by the Company between September 7, 2012 and September 21, 2012 concerning Peregrine’s business and financial prospects.

Peregrine is a biopharmaceutical company pursuing multiple clinical programs focused on the treatment and diagnosis of cancer, including its lead product candidate, bavituximab, and novel brain cancer agent Cotara. The investigation concerns allegations that the Company and certain of its executive officers issued false and/or misleading statements or failed to disclose material adverse facts, including that: (1) there were major discrepancies between some patient sample test results and patient treatment code assignments; (2) as such, the clinical data from the Company’s randomized, double-blind placebo-controlled Phase II trial of bavituximab in second-line non-small cell lung cancer was unreliable; and (3) as result of the foregoing, the defendants’ positive statements about Peregrine’s business, operations, and prospects, including those statements relating to the clinical data from the Company’s randomized, double-blind placebo-controlled Phase II trial of bavituximab in second-line non-small cell lung cancer lacked a reasonable basis.

If you purchased Peregrine securities between September 7, 2012 and September 21, 2012, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Todd M. Garber, Esquire, of the Law Offices of Todd M. Garber, by telephone at 213-700-7262 or by email to info@toddgarberlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Law Offices of Todd M. Garber
Todd M. Garber, Attorney at Law
Los Angeles, California
213-700-7262
info@toddgarberlaw.com

Source: Law Offices of Todd M. Garber