Yes, some of the shorts shorted more today. I assume most of us here have margin accounts and one way to prevent your broker for lending the shares out is to put a limit sale order in for some high price, like $20 or more.

Yes, 15,000,000+ before lunch, but who the hell is selling all these shares now? The uncertainty about p3 is gone and a lot of risk along with it. Upgrades will come within few days and stock should be trading around two bucks or more IMO.

Phase III agreement full text:

Peregrine Pharmaceuticals (Nasdaq: PPHM) announced that it has reached agreement with the U.S. Food and Drug Administration (FDA) on a Phase III registration trial design of the company's lead clinical immunotherapeutic candidate bavituximab in second-line non-small cell lung cancer (NSCLC). The trial design was supported by promising data from a Phase IIb trial in patients treated with bavituximab plus docetaxel. Final data from the study will be presented at the upcoming ASCO Annual Meeting on Saturday, June 1, 2013.

"We are very pleased with the outcome from this highly collaborative effort with the FDA which allows us to proceed with our proposed Phase III clinical trial," said Robert Garnick, Ph.D, head of regulatory affairs at Peregrine. "We believe this trial, when combined with bavituximab's supporting data to date, could be sufficient to support a future BLA submission."

The Phase III clinical trial will be a randomized, double-blind, placebo-controlled trial evaluating bavituximab plus docetaxel versus docetaxel alone enrolling approximately 600 patients at sites worldwide. The trial will enroll Stage IIIB/IV non-squamous, NSCLC patients who have progressed after standard front-line treatment. The primary endpoint of the trial will be overall survival (OS).

"The promising survival and safety data from the Phase IIb clinical trial in second-line NSCLC combined with the safety profile from over 400 patients treated to date with bavituximab provide strong support for this Phase III clinical trial," said Joseph Shan, vice president of clinical and regulatory affairs of Peregrine. "We look forward to finalizing the clinical protocol and initiating the global Phase III trial by year-end."

Bavituximab is a novel investigational immunotherapy that activates the maturation of dendritic cells and cancer-fighting (M1) macrophages leading to the development of cytotoxic T-cells that fight solid tumors. Bavituximab has been studied in 17 clinical trials including lung, breast, pancreatic, liver and rectal cancers. Data from three of these clinical trials will be presented at the ASCO Annual Meeting beginning June 1, 2013.

"This agreement on a Phase III trial design with the FDA is a critical milestone for the bavituximab program," said Steven King, president and chief executive officer of Peregrine. "We will now focus on starting the Phase III trial while continuing ongoing partnering discussions. With immunotherapies at the forefront of new approaches to treating cancer, we are well positioned with bavituximab's novel immune activation mechanism to help advance this rapidly evolving field."

Phase III agreement

"Peregrine Pharmaceuticals (Nasdaq: PPHM) announced that it has reached agreement with the U.S. Food and Drug Administration (FDA) on a Phase III registration trial design of the company's lead clinical immunotherapeutic candidate bavituximab in second-line non-small cell lung cancer (NSCLC). The trial design was supported by promising data from a Phase IIb trial in patients treated with bavituximab plus docetaxel. Final data from the study will be presented at the upcoming ASCO Annual Meeting on Saturday, June 1, 2013."

http://www.streetinsider.com/Corporate+News/Peregrine+Pharma+%28PPHM%29%2C+FDA+Reach+Agreement+Over+Bavituximab+Phase+III+Design/8353432.html

Here is the link, halted

http://www.streetinsider.com/Trading+Halts/Peregrine+Pharmaceuticals,+Inc.+%28PPHM%29+halted,+news+pending/8353414.html

<<Keep sticking your nose the mouse trap>>

Hey, this is getting personal. This is PPHM board, not H4B board. It remains to be seen who will have the last laugh this week. I don't think we will have major news or any news before ASCO and the share price is equally likely to go up or down about 10% till then. I'll buy more on pullback if we get one.

<<PPhM remains my favorite company and I believe my best investment.>>

Same here for PPHM. Easy money on ARNA has been made, the love affair with weight loss drugs is over, we are in the "show me the money" phase. Not sure Belviq will do much better than Vivus Qsymia. I unloaded most of my ARNA shares.

<<Sierra should reevaluate and make PPHM her top pick of all time>>

What would that do for PPHM? Her picks are soo funny - entertainment value only.
Just looked at SPOM, volume was 55k shares on Friday, can't buy 25K without driving the price up. That company has 900k market cap - you can buy the whole company. If you're searching for undervalued companies look at GPRC and XIN. Almost forgot - PPHM too.

GPRC $1.41, PE = 1.21, EPS = 1.17. It is ridiculously cheap and not a fraud like some other Chinese companies IMO.

Also XIN $4.58, PE = 2.06, EPS = 2.22, 4.1% dividends.

Did anybody take a serious look at SCON? Now process for making superconductor wire.

Hey, hold your horses, it is not DIHYDROGEN MONOXIDE, here is what BioChica said:

<< my trades are in Amarin and a smaller amount in PPHM.>>

Interesting. I also have some AMRN shares and much more in PPHM. Not sure Amarin will be able to pull it off, PPMH has a lot more potential IMO.

If you think a pullback is coming did you consider getting some ^VIX calls for protection. VIX volatility index is around 12, which is historically very low, it will go up even on a small market drop.

PPHM doesn't really move with the market, I see no reason to get out of this stock in expectation of a pullback that may not even happen and miss the boat.

<<To good to be true, Hope I am wrong.>>

No, Drumstick, you are not wrong, you are a realist. Too many Kool aid drinkers here. No way to see $5+ after ASCO, not even if they get p3 go ahead.

I wonder if they really know what they are doing hiring all those directors, they will be top heavy - too many chiefs, no indians. It will also put big pressure on the budget.

Based on strictly technical indicators the PPHM is a buy at this level. However, we all know that news always override technicals, so keep your fingers crossed for good first line MOS and second line p3.

<<I have no clue what you just posted.>>

Google for "slow stohastics %D %K". Not hard to learn. I usually don't trade event driven stocks like PPHM on technicals, but I may look at them for entry points.

H4B<<will cover when Slow stoch comes down to 20>>


How do you trade PPHM using slow stohastic - what do you use for %K and %D or do you stick to the default values and buy on 20 and sell on 80? Do you use a crossover of %D and %K for anything?

<<158 shares listed after the close at $1.51>>


This is funny, why would someone trade 158 shares for $238 and pay $9 in commission. Looks like some sort of a signal for $1.58 on Monday etc.

<< EVERYTHING with Peregrine is much longer then we expect. >>


Not only that, generally in life almost everything takes longer than expected. Only bad things happen fast.

As far as I remember we have no major events for PPHM scheduled in June, it could be an uneventful month barring frontline data release. I am contemplating selling June covered calls again on my trading shares - any buyers?

<<All out of PPHM..it was a nice 10% ride..started shorting @ 1.52...will cover back in the 1.30's>>


Interesting trading strategy. However you can get your 10% to 15% in 30 days simply by selling June 1.5 strike covered calls for 0.15 to 0.2 without taking on the additional risk by being short.

OPEX will not have any influence on closing price tomorrow. Open interest is very low, total call contracts are around 1600, puts are much less. There are 1100 call contracts for 1.5 strike, out of those I wrote 400, or ~35% of open interest. So, as you can see, there will be no pressure by option writers to keep the PPS at $1.5.

<< 1 cent short with your estimation of close at 1.57 >>


They painted the tape, last 100 shares trade was 1.56, several trades before that were all 1.57.

<< LooksLike LessThan 10,000(Visible) Left For $1.57 >>

Yea, they are playing games again, no 1.57 left and the churning goes on at 1.575.

<< still see the volume at $1.62 and $1.65>>


Yes, 187K at 1.62 and 100K at 1.65 still sitting there.

Churning shares at 1.505


Nine out of ten orders are for 100 shares and using 3 decimal places price which retail can't do. Nobody in the right mind would buy or sell 100 shares for $150 and pay $8 to $10 in commission.

The MMs are playing the usual game to keep the price pinned. Every time there is a trade for more than 100 shares the price goes to 2 decimal places format and goes to 1.51.

There should be a 0.05% sales tax on trading. That would quickly stop that share churning nonsense.

<<__We havent seen 6M shares since March 8th__>>

I was expecting the PPS to go up more on such volume. Who the heck is selling at this time?

<< We have a great PPHM scientific team - thanks Steve >>

Well, credit for Bavi goes to Thorpe, not PPHM scientists.


<< We have a Cotara, first, PIII approval - thanks Steve >>

Yes, p3 approval - no partner and no trial. So, what good is it?


<< We salvaged a dose switched CT - thanks Steve >>

Salvaged? That remains to be seen. We don't even have the end of P2 meeting with FDA.

<< Prepare for battle at $1.40 >>

What battle? The trading is down to nothing, only 800K shares traded. If everybody on this board adds 10% on the same day, or better yet at the same time, we would exceed that volume by order of magnitude and the stock would skyrocket. We could organize a big bull raid, get the shorts to panic and start covering adding more fuel to the fire in the process.

<< 13 months would be a winner IMO >>


It should be a little better than 2nd line NSCLC. Patients in 1st line are probably somewhat healthier, one would expect better MOS. However the sample sizes are small and we are likely to get some statistical noise. 14 months would be my guess. Subgroups may be interesting.

You can't look at the calendar and end of enrollment date trying to estimate MOS. That didn't work for pancreatic trial and it most likely will not work here. Generally the longer we wait the better the MOS could be, but it also depends on how long they sit on the data before making an announcement.

This is from DCTH IV board, it applies to PPHM and biotechs in general


" Maybe the government can save money by eliminating the FDA completely and have biotechs submit clinical data to the Street.com. AF and Cramer can then decide whether drugs are approved or rejected. That seems to be what is happening already in the marketplace for biotech stocks. "

H4B, Are you still long or have you shorted again this morning?

<< but does this perhaps mean they have the non US partnership locked up? >>


Why is every PPHM news always viewed thru rose color glasses? This could also mean they are not yet ready to try for non US partnership. According to SK they have been in partnership talks for the last 6 months or longer. So, why suddenly would they need a new director for those negotiations - because SK failed in his effort?

Unusual AH trading after the earnings. Record April sales lifted the stock after the initial drop. It will be interesting tomorrow.

<< .Since you really don't see Steve King as a positive you should sell and go on to your next investment. >>


What is this, are you trying to chase anybody who doesn't share your opinion off the board? Sure, I do not see King and the brass as a positive, just look at the past history - taking way too long to get anything done. If anybody deserves the credit it would be Thorpe, not this management.

I am here for two reasons, Bavi and trading. I believe Bavi works and this ignorant team may pull it off on the end. Second reason is short term trading and option writing given the fact that the stock has been range bound and will continue to be range bound till we get major news, which IMO is about two or more months down the road.

<< Makes you wonder if they just want to keep their jobs. >>


I am beginning to see it your way. Shareholders money has been a milking cow for them for too long without producing any results. They don't want a buyout, you can be sure if BP buys them out they would have no use for SK and the top brass.

<< As we wait for Peregrine to execute it's business plan >>


What business plan? This management has done absolutely nothing and wasted a lot of shareholder money by doing ATMs at the worst possible time. If Bavi makes it on the end it will not be because of King and company, it will be all Thorpe's work.