NEW YORK, Feb. 26, 2016 /PRNewswire/ -- Tripp Levy
PLLC, a leading national securities law firm, is investigating
possible securities fraud claims involving Peregrine
Pharmaceuticals, Inc. (NASDAQ: PPHM, PPHMP) ("Peregrine" or the
"Company").
Peregrine is a biopharmaceutical company based in Tustin, California, that develops therapeutics
to stimulate the body's immune system to fight cancer. On
February 25, 2016, Peregrine revealed
that it was discontinuing the Company's phase III SUNRISE trial of
bavituximab in patients with previously treated locally advanced or
metastatic non-squamous non-small cell lung cancer. The trial
was terminated based on the recommendation of the study's
Independent Data Monitoring Committee, which found that the
bavituximab plus docetaxel group was underperforming when compared
to the docetaxel group. The Company also announced that it
had put other chemotherapy combination studies on hold until it had
a clear understanding of the SUNRISE study results. On this
news, the Company's common shares were trading down by over 60% and
its preferred shares were trading down by over 25%.
If you have investment losses in Peregrine and would like to
discuss your rights regarding this matter, or if you wish to share
information about the matter, you may contact us at:
Tripp Levy PLLC
New York, New York
Toll free: 800-511-7037
International: 602-241-2841
Email: contact@tripplevy.com
www.tripplevy.com
Tripp Levy PLLC represents individual and institutional
shareholders in securities matters and has assisted in the recovery
of billions of dollars for shareholders in securities actions
around the globe.
Attorney advertising. Prior results do not indicate a
similar outcome.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/peregrine-alert----national-securities-law-firm-investigates-peregrine-pharmaceuticals-inc-for-potential-securities-law-claims-and-encourages-shareholders-to-contact-the-law-firm-for-more-information-300227117.html
SOURCE Tripp Levy PLLC