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news.Peregrine Pharmaceuticals, a clinical-stage biopharmaceutical company that develops monoclonal antibodies for the treatment of cancer and viral infections, has reported revenues of $2,883,000 for the third quarter ended 31 January 2011, compared to $9,877,000 for the same period in 2010.
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The company has posted a net loss of $8,929,000 for the third quarter 2011, or $0.14 loss per diluted share, compared to net loss of $1,538,000, or $0.03 loss per diluted share, for the comparable period in 2010.
Peregrine Pharma has reported its loss from operation as $8,843,000, compared to $1,317,000 for the comparable period in 2010.
For the nine months ended 31 January 2011, the company has posted a net loss of $24,137,000, or $0.41 loss per diluted share, compared to $6,753,000, or $0.14 loss per diluted share, for the year ago period.
The company has posted revenue of $10,763,000 compared to $23,523,000 for the year ago period.
Peregrine Pharma’s loss from operations was $24,733,000, compared to $6,044,000 for the year ago period.
Peregrine Pharma president and CEO Steven King said they are continuing to advance their later-stage clinical programs for Bavituximab and Cotara by completing clinical studies and initiating new studies which can provide meaningful clinical data over the coming year.
"Since last quarter, we have initiated two new randomized Phase II trials for bavituximab, launched our first three investigator-sponsored trials, and completed patient treatment in our Phase II Cotara trial in recurrent glioblastoma multiforme and a bavituximab HCV study," King said.