I hope you did not get sucked into this. THis is clearly desperation tim at Techniclone. Nothing that a good new name change and a massive ATM cannot cure though:
"Now granted, Peregrine is a small biotech company. The bump in share price only represents about a $70 million increase in Peregrine's value. But I'm not sure the news is worth even that much.
My best guess is that investors take the start of the trial as some sort of endorsement by the Food and Drug Administration. Peregrine even mentions the agency in the headline of the press release, highlighting that the company "has reached agreement with the FDA." If the agency agreed to allow Peregrine to run the trial, it must think the trial will work right?
Sorry, it doesn't really work that way."
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