Peregrine Soars After Lung Cancer Drug Extends Survival
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Peregrine Pharmaceuticals Inc. shares rose the most in three years after the biotechnology company said its experimental drug doubled survival rates from non-small cell lung cancer in a study.
Peregrine soared 47 percent to $4.50 at the close in New York, the biggest single-day increase since May 28, 2009. The shares have more than tripled in the past 12 months.