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Charles Living

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Alias Born 02/12/2012

Charles Living

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Monday, 08/27/2012 10:10:00 AM

Monday, August 27, 2012 10:10:00 AM

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PPHM (-14.45) Shares of Peregrine Pharmaceuticals Inc. (NASDAQ:PPHM) crater following a negative article in Seeking Alpha by contributor Apsara Biotech which implied that the Phase II results for its cancer drug Bavituximab, also known as Bavi, are “overhyped and inconclusive”. The author called the huge, 500 percent runup in the stock during the past two months “unjustified” and also said that Peregrine’s current $300 million market cap is far too high, considering what the firm is really worth.
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