>> (PPHM Bavituximab) Suspend All Clinical Development Activities
All clinical development activities should be immediately halted and the Company's cost structure must be adjusted accordingly. In the last decade, we estimate that Peregrine has spent over $300 million cumulatively in research and development on clinical development activities, which are almost entirely related to bavituximab, a drug which has been unsuccessful in numerous clinical studies, most recently failing a Phase III SUNRISE trial in February 2016 for small cell lung cancer. It has shown similarly disappointing results for breast cancer, hepatitis C, and pancreatic cancer. Given bavituximab's poor performance in clinical trials, it is questionable whether any further spending on its development is warranted at all;
Isn't this obvious to most for how many years? I guess it takes activist investors to tell the diehards.
