I have a feeling that they got two sites up and running and called it meeting their goal of initiating Phase III by the end of the year. They sure were very vague when it came to answering questions about the "definition" of initiating the study.
I expect the number of sites to grow rapidly over the next few weeks. Meanwhile, people lucky enough to stumble on Peregrine for the first time can buy shares cheaply, and they won't have to wait for years to find out if they made a good choice. Lucky devils!