Peregrine Pharmaceuticals to Present at C.E. Unterberg, Towbin Life Sciences Conference

- Presentation to Be Webcast Live and Archived on Company's Website -

TUSTIN, Calif., Oct. 25 /PRNewswire-FirstCall/ -- Peregrine Pharmaceuticals, Inc. (Nasdaq: PPHM), a biopharmaceutical company developing targeted therapeutics for the treatment of cancer and hepatitis C virus (HCV) infection, today announced that senior management will present at the C.E. Unterberg, Towbin Life Sciences Conference on Monday, October 30, 2006 at 4:30 pm EST. The presentation will be held at The Palace Hotel in New York City.

Peregrine's CFO Paul Lytle will provide a review of recent corporate developments.

Mr. Lytle's presentation will be webcast live and can be accessed at: www.wsw.com/webcast/ceut5/pphm/. The webcast of the live presentation can also be accessed at the Investor Relations section of Peregrine's website at www.peregrineinc.com. A replay will be available on the Peregrine website and archived for approximately 30 days.

For more information about the conference, visit: www.unterberg.com/newsperspec/news_upcoming.asp

About Peregrine Pharmaceuticals

Peregrine Pharmaceuticals, Inc. is a biopharmaceutical company with a portfolio of innovative product candidates in clinical trials for the treatment of cancer and hepatitis C virus (HCV) infection. The company is pursuing five separate clinical trials in cancer and HCV infection with its lead product candidates bavituximab and Cotara® in the U.S. and India. Peregrine also has in-house manufacturing capabilities through its wholly owned subsidiary Avid Bioservices, Inc. (www.avidbio.com), which provides development and bio-manufacturing services for both Peregrine and outside customers. Additional information about Peregrine can be found at www.peregrineinc.com.

SOURCE Peregrine Pharmaceuticals, Inc.
CONTACT: Investors, +1-800-987-8256, info@peregrineinc.com, or Media, Barbara Lindheim, +1-212-918-4650, both of GendeLLindheim BioCom Partners, for Peregrine Pharmaceuticals, Inc. /Web site: http://www.peregrineinc.com