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Charles Living

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Charles Living

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Wednesday, 08/22/2012 10:47:02 AM

Wednesday, August 22, 2012 10:47:02 AM

Post# of 531
PPHM (-16.13%) Peregrine: Bavi Results Are Overhyped And Inconclusive

Seeking Alpha August 22, 2012
http://seekingalpha.com/article/821601-peregrine-bavi-results-are-overhyped-and-inconclusive?source=yahoo

We think Peregrine Pharmaceuticals (PPHM) is highly overvalued, following its 500% run-up over the past two months on what we consider to be overhyped and inconclusive Phase II results for its cancer drug Bavituximab, also known as Bavi. The recent massive stock price increase for PPHM is highly unjustified and we think that the company is worth much less than the $300 million market capitalization it is currently valued at.

In our opinion, investors are assigning an overly inflated valuation to an unproven Phase II drug with an unusual mechanism of action on a substantially incomplete subset of data...
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