Peregrine Pharmaceuticals (NASDAQ:PPHM) is becoming known among biotech traders for the company’s big swings and volatility. This morning’s 19% decline can be attributed to a Seeking Alpha article that examines the company’s most recent trial data and expresses doubt about Peregrine’s ability to take bavituximab to market. Shares broke their 52-week range in mid-August by peaking above $3.00. Today, however, they trade below $1.80. The company has also taken some negative press for using ‘At The Market’ stock sales that are often overlooked by investors. Nevertheless, PPHM has returned impressive gains in the second half of this year. Peregrine’s lead product is in clinical trials for Non Small-Cell Lung Cancer and pancreatic cancer and trial data has been met with mixed sentiment from analysts and investors. The company’s other product, Cotara, is in trials for glioblastoma multiforme. See our previous coverage of Peregrine Pharmaceuticals by clicking here.
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