Peregrine Pharmaceuticals' Immunotherapy Bavituximab to Be Highlighted in Three Clinical Data Presentations at 2013 ASCO Annual

Peregrine Pharmaceuticals' Immunotherapy Bavituximab to Be Highlighted in Three 
Clinical Data Presentations at 2013 ASCO Annual
Meeting 
Presentations Include Data From Two Phase II Bavituximab Trials in
Second-Line NSCLC and Pancreatic Cancer and a Phase I Bavituximab
Trial in HER2-Negative Breast Cancer 
TUSTIN, CA -- (Marketwired) -- 05/16/13 --  Peregrine
Pharmaceuticals, Inc. (NASDAQ: PPHM), a biopharmaceutical company
developing first-in-class monoclonal antibodies focused on the
treatment and diagnosis of cancer, today announced the presentation
of three clinical posters at the 2013 American Society of Clinical
Oncology (ASCO) Annual Meeting, to be held May 31-June 4, 2013 in
Chicago, Illinois.  
Data to be presented include final data from the company's lead
indication from a randomized, double-blind, placebo-controlled Phase
II trial of bavituximab in second-line non-small cell lung cancer
(NSCLC) which is anticipated to advance into a pivotal Phase III
trial by year-end. Also to be presented are final data including
subgroup data analyses from the company's randomized Phase II trial
of bavituximab in Stage IV pancreatic cancer and interim data from an
investigator-sponsored Phase I trial of bavituximab in HER2-negative
breast cancer. 
Abstract Details 
Abstract: 8095
 Title: Randomized, blinded, placebo-controlled phase
II trial of docetaxel and bavituximab as second-line therapy in
locally advanced or metastatic non-squamous non-small cell lung
cancer.
 Presenter: Mikhail Shtivelband, MD
 Track(s): Lung Cancer 
Session Type: General Poster Session
 Time and Location: Sat, Jun 1,
8:00 AM - 11:45 AM CDT, S Hall A2 
Abstract Conclusions: This randomized, placebo-controlled Phase II
trial demonstrated a positive trend favoring 3mg/kg dosage of
bavituximab plus docetaxel in overall response rate (ORR),
progression-free survival (PFS) and overall survival (OS). 3mg/kg
bavituximab in combination with docetaxel was well tolerated and is
the planned dose for Phase III.  
Abstract: 567 
 Title: Phase I clinical trial of bavituximab and
paclitaxel in patients with HER2-negative metastatic breast cancer
(MBC). 
 Presenter: Pavani Chalasani, MD, MPH 
 Track(s): Breast
Cancer
 Session Type: General Poster Session
 Time and Location: Sat,
Jun 1, 1:15 PM - 5:00 PM CDT, S Hall A2 
Abstract Conclusions: Bavituximab is well tolerated in combination
with paclitaxel. Early results show promise in terms of clinical
responses with 8 of 10 evaluable patients having clinical benefit.
Early biomarker results suggest no effect of therapy on platelet
activation but decreases in circulating microparticles is observed. 
Abstract: 4054 
 Title: Randomized, open-label, phase II trial of
gemcitabine with or without bavituximab in patients with
nonresectable stage IV pancreatic adenocarcinoma. 
 Presenter: Shuchi
S. Pandya, MD
 Track(s): Gastrointestinal (Noncolorectal) Cancer 
Session Type: General Poster Session
 Time and Location: Sun, Jun 2,
8:00 AM - 11:45 AM CDT, S Hall A2 
Abstract Conclusions: In this patient population with extensive
disease burdens and limited treatment options, bavituximab plus
gemcitabine was well tolerated and demonstrated moderate activity in
tumor response and survival.  
About Bavituximab: A Targeted Immunotherapy
 Bavituximab is a
first-in-class phosphatidylserine (PS)-targeting monoclonal antibody
that represents a new approach to treating cancer. PS is a highly
immunosuppressive molecule usually located inside the membrane of
healthy cells, but "flips" and becomes exposed on the outside of
cells that line tumor blood vessels, creating a specific target for
anti-cancer treatments. PS-targeting antibodies target and bind to PS
and block this immunosuppressive signal, thereby enabling the immune
system to recognize and fight the tumor. Bavituximab is the lead drug
candidate from the company's PS-targeting technology platform and is
currently being evaluated in several solid tumor indications,
including non-small cell lung cancer, pancreatic cancer, breast
cancer, liver cancer and rectal cancer.  
About Peregrine Pharmaceuticals, Inc.
 Peregrine Pharmaceuticals,
Inc. is a biopharmaceutical company with a portfolio of innovative
monoclonal antibodies in clinical trials focused on the treatment and
diagnosis of cancer. The company is pursuing multiple clinical
programs in cancer with its lead product candidate bavituximab and
novel brain cancer agent Cotara(R). Peregrine also has in-house cGMP
manufacturing capabilities through its wholly-owned subsidiary Avid
Bioservices, Inc. (www.avidbio.com), which provides development and
biomanufacturing services for both Peregrine and third-party
customers. Additional information about Peregrine can be found at
www.peregrineinc.com. 
Safe Harbor Statement: Statements in this press release which are not
purely historical, including statements regarding Peregrine
Pharmaceuticals' intentions, hopes, beliefs, expectations,
representations, projections, plans or predictions of the future are
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. The forward-looking
statements involve risks and uncertainties including, but not limited
to, the risk that the major discrepancies discovered with respect to
our randomized, double-blind placebo-controlled Phase II trial of
bavituximab in patients with refractory NSCLC may cause regulatory
authorities to require further clinical trials to support a
registration package, the risks that partnering discussions may not
result in a partnering transaction or that such discussions could be
hindered or delayed as a result of the potential impact on the
regulatory pathway for bavituximab caused by the major discrepancies
discovered with respect to the Phase II NSCLC trial or the existing
class action lawsuits, the risk that the Company may not be able to
initiate a the pivotal Phase III trial within its anticipated
timeline, the risk that Peregrine may not have or raise adequate
financial resources to complete its other planned clinical programs
and the risk that the data from the investigator-sponsored Phase I
trial evaluating bavituximab in combination with the chemotherapeutic
agent paclitaxel in patients with metastatic HER2-negative breast
cancer may not be consistent with the promising tumor response and
survival trends in the Company's earlier two Phase II advanced breast
cancer trials evaluating the compound in additional treatment
combinations. It is important to note that the Company's actual
results could differ materially from those in any such
forward-looking statements. Factors that could cause actual results
to differ materially include, but are not limited to, uncertainties
associated with completing preclinical and clinical trials for our
technologies; the early stage of product development; the significant
costs to develop our products as all of our products are currently in
development, preclinical studies or clinical trials; obtaining
additional financing to support our operations and the development of
our products; obtaining regulatory approval for our technologies;
anticipated timing of regulatory filings and the potential success in
gaining regulatory approval and complying with governmental
regulations applicable to our business. Our business could be
affected by a number of other factors, including the risk factors
listed from time to time in our reports filed with the Securities and
Exchange Commission including, but not limited to, our annual report
on Form 10-K for the fiscal year ended April 30, 2012 and our
quarterly report on Form 10-Q for the quarter ended January 31, 2013.
The company cautions investors not to place undue reliance on the
forward-looking statements contained in this press release. Peregrine
Pharmaceuticals, Inc. disclaims any obligation, and does not
undertake to update or revise any forward-looking statements in this
press release. 
Contact: 
Christopher Keenan or Jay Carlson
Peregrine Pharmaceuticals, Inc.
(800) 987-8256
info@peregrineinc.com