An investigation for investors in Peregrine Pharmaceuticals (NASDAQ:PPHM) shares over potential securities laws violations by Peregrine Pharmaceuticals was announced and NASDAQ:PPHM stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 09/26/2012 -- An investigation on behalf of investors of Peregrine Pharmaceuticals (NASDAQ:PPHM) shares over potential securities laws violations by Peregrine Pharmaceuticals and certain of its directors and officers in connection certain financial statements was announced.
Investors who purchased shares of Peregrine Pharmaceuticals (NASDAQ:PPHM), have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Peregrine Pharmaceuticals (NASDAQ:PPHM) concerning whether a series of statements by Peregrine Pharmaceuticals regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Peregrine Pharmaceuticals (NASDAQ:PPHM) reported that its Total Revenue rose from $13.49 million for the 12 months period that ended on April 30, 2011 to $15.23 million for the 12 months period that ended on April 30, 2012.
However, its Net Loss over the respective time periods increased from $34.15 million to $42.12 million.
Shares of Peregrine Pharmaceuticals (NASDAQ:PPHM) grew from $0.43 per share in early June 2012 to as high as $5.37 per share on September 21, 2012.
Then on September 24, 2012 Peregrine Pharmaceuticals announced that it had discovered major discrepancies in treatment group cofding by an independent third-party vendor responsible for distribution of blinded investigational product used in its bavituximab phase II second-line non-small cell lung cancer trial.
Shares of Peregrine Pharmaceuticals (NASDAQ:PPHM) dropped from $5.36 per share on Friday to as low as $1.109 per share on Monday, September 24, 2012.
On September 25, 2012, NASDAQPPHM shares close3d at $1.70 per share.
Those who purchased shares of Peregrine Pharmaceuticals (NASDAQ:PPHM) and currently hold those Peregrine Pharmaceuticals shares, may have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com