Biotech Values

[DewDiligence]

I hope you have changed your mind on this call regarding Peregrine Pharmaceuticals "prior" to any upswings. Its very easy for many to change their mind "after" a big move up and the difficult part is making that call now and sticking with it.

My opinion of PPHM does not depend on the share price per se, but rather on the clinical data for the company’s drugs.

When PPHM’s share price more than quintupled to $5.50 in Sep 2012, I didn’t change my opinion of the company because the data in second-line NSCLC that caused the price jump weren’t credible, IMO. If PPHM someday produces credibly strong data from a randomized controlled trial, I’ll revisit my assessment of the company.