PEREGRINE PHARMACEUTICALS, INC. (NASDAQ:PPHM) Files An 8-K Other Events
Item 8.01
| Other Events. |
On March 9, 2017, Peregrine Pharmaceuticals, Inc. (the Company)
issued a press release announcing the declaration by the Companys
Board of Directors of a quarterly cash dividend payment of
$0.65625 per share (the Dividend) on the Companys 10.50% Series E
Convertible Preferred Stock (the Series E Preferred Stock),
accruing from January 1, 2017 through March 31, 2017. The
Dividend equates to an annualized 10.50% per share of Series E
Preferred Stock based on the $25.00 per share stated liquidation
preference. The Dividend on the Series E Preferred Stock is
payable on April 3, 2017 to holders of record at the close of
business on March 20, 2017. A copy of the press release is filed
hereto as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits. The following material is filed as an exhibit to
this Current Report on Form 8-K:
Exhibit
Number
99.1Press Release issued March 9, 2017.
About PEREGRINE PHARMACEUTICALS, INC. (NASDAQ:PPHM)
Peregrine Pharmaceuticals, Inc. (Peregrine) is a biopharmaceutical company. The Company operates through two segments: Peregrine, which is engaged in the research and development of monoclonal antibodies for the treatment of cancer, and Avid, which is engaged in providing contract manufacturing services for third party customers on a fee-for-service basis while also supporting its internal drug development efforts. Bavituximab is its lead immunotherapy candidate. Bavituximab is a monoclonal antibody that targets and binds to phosphatidylserine (PS), a immunosuppressive molecule that is usually located inside the membrane of healthy cells, but then flips and becomes exposed on the outside of cells in the tumor microenvironment, causing the tumor to evade immune detection. The Company’s subsidiary is Avid Bioservices, Inc. (Avid). Avid provides integrated current good manufacturing practices (cGMP) services from cell line development to commercial biomanufacturing. PEREGRINE PHARMACEUTICALS, INC. (NASDAQ:PPHM) Recent Trading Information
PEREGRINE PHARMACEUTICALS, INC. (NASDAQ:PPHM) closed its last trading session down -0.069 at 0.611 with 3,184,709 shares trading hands.
