Because Pphm investors are under water, the gig is up and they don't want to come to terms with that.
I can't believe the talk that peregrine is trying to get approval or get a deal. Right now it's possible the lights are being turned off or are "planning" to be turned off.....
Good news at this point would be 1) Selling the entire bavi platform (what is left of it and the IP) to AstraZeneca or some other BP who actually would have more than a snowball's chance in hell of getting approval; 2) Changing the company's name to Avid Bioservices and focusing on running a profitable biomanufacturing business; or 3) being acquired.
Nothing else, repeat NOTHING else said at the CC could be "good news." At this juncture in time.