TUSTIN, CA -- (Marketwire) -- 09/04/12 -- Peregrine Pharmaceuticals, Inc. (NASDAQ: PPHM), a clinical-stage biopharmaceutical company developing first-in-class monoclonal antibodies focused on the treatment and diagnosis of cancer, today announced it will be presenting data from its double-blind, placebo controlled, Phase II bavituximab trial in second-line non-small cell lung cancer at an upcoming plenary presentation at the 2012 Chicago Multidisciplinary Symposium in Thoracic Oncology to be held at the Chicago Marriott Downtown Magnificent Mile in Chicago, Illinois from September 6-8, 2012. The late-breaking oral presentation will be held on September 7, 2012 at 1:40 PM CDT.

Oral Presentation Details:

Late-Breaking Plenary Presentation LBPL2

Title: Randomized, Double-Blind, Placebo-Controlled Phase 2 Trial of Bavituximab Plus Docetaxel in Patients with Previously Treated Locally Advanced or Metastatic Non-Squamous Non-Small-Cell Lung Cancer (Top-line Results)

Speaker: David Gerber, M.D., University of Texas Southwestern Medical Center

Time: Friday, Sep 07, 2012, 1:40 PM - 1:50 PM CT

Authors: D. E. Gerber(1), M. Joppert(2), D. R. Spigel(3), D. P. Singh(4), D. Giorgadze(5), M. Shtivelband(6), O. V. Ponomarova(7), J. Shan(8), C. P. Belani(9)

1) Harold C. Simmons Cancer Center, University of Texas Southwestern Medical Center, Dallas, TX.; 2) Florida Cancer Specialists, Ft. Meyers, FL.; 3) Sarah Cannon Research Institute/Tennessee Oncology, PLLC, Nashville, TN.; 4) Department of Radiotherapy & Clinical Oncology, S.M.S. Medical College & Attached Hospitals, Jaipur, India.; 5) Chemotherapy and Immunotherapy Clinic, Tbilisi, Georgia.; 6) Ironwood Cancer and Research Centers, Chandler, AZ.; 7) RE Kavetsky Institute of Experimental Pathology, Oncology and Radiobiology, Kiev, Ukraine.; 8) Peregrine Pharmaceuticals, Inc., Tustin, CA.; 9) Penn State Hershey Cancer Institute, Hershey, PA.

Audio Webcast
In conjunction with Dr. Gerber's presentation in Chicago, Peregrine will post an audio webcast and slide deck to Peregrine's website. The pre-recorded webcast will be hosted by Joseph Shan, vice president of clinical and regulatory affairs. Access to the audio and corresponding slides can be found on Peregrine's website.

About Bavituximab
Bavituximab is a first-in-class phosphatidylserine (PS)-targeting monoclonal antibody that represents a new approach to treating cancer. Bavituximab is the lead drug candidate from the company's PS technology platform and is currently being tested in eight clinical trials including three randomized Phase II trials in front-line and second-line non-small cell lung cancer, front-line pancreatic cancer and five investigator-sponsored trials (ISTs) in additional oncology indications and treatment combinations.

PS is a highly immunosuppressive molecule usually located inside the membrane of healthy cells, but "flips" and becomes exposed on the outside of cells that line tumor blood vessels, creating a specific target for anti-cancer treatments. PS-targeting antibodies target and bind to PS and block this immunosuppressive signal, thereby enabling the immune system to recognize and fight the tumor.

About Peregrine Pharmaceuticals
Peregrine Pharmaceuticals, Inc. is a biopharmaceutical company with a portfolio of innovative monoclonal antibodies in clinical trials focused on the treatment and diagnosis of cancer. The company is pursuing multiple clinical programs in oncology with its lead product candidate bavituximab and novel brain cancer agent Cotara®. Peregrine also has in-house cGMP manufacturing capabilities through its wholly-owned subsidiary Avid Bioservices, Inc. (www.avidbio.com), which provides development and biomanufacturing services for both Peregrine and outside customers. Additional information about Peregrine can be found at www.peregrineinc.com.

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Contact:

Christopher Keenan or Jay CarlsonPeregrine Pharmaceuticals

(800) 987-8256

info@peregrineinc.com

Source: Peregrine Pharmaceuticals

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