TUSTIN, Calif., June 8, 2005 /PRNewswire-FirstCall via COMTEX/ -- Peregrine Pharmaceuticals, Inc. (Nasdaq: PPHM) announced today that its president and chief executive officer, Steven W. King, will present a company update primarily focused on Tarvacin's™ anti-viral potential to combat a number of "enveloped" and potentially lethal viruses at the Rodman & Renshaw Techvest 2nd Annual Security and Connectivity Investor Conference. The live presentation is scheduled at 4:35 p.m. EDT on Wednesday, June 15, 2005 at the St. Regis Hotel in New York City. The Conference is featuring Tom Ridge, the Former Secretary of Homeland Security, as a keynote speaker.

An audio webcast of Peregrine Pharmaceuticals' presentation will be available over the Internet and can be accessed at Peregrine Pharmaceutical's website at approximately 4:35 p.m. EDT on June 15 at http://www.peregrineinc.com.

About Peregrine Pharmaceuticals

Peregrine Pharmaceuticals, Inc. is a biopharmaceutical company with a broad portfolio of products under development directed towards the treatment of cancer, viruses and other diseases. The company is in the process of initiating patient enrollment in a Tarvacin™ clinical trial for the treatment of all solid cancers and in a Cotara® clinical trial for the treatment of brain cancer. In addition, the company has received clearance from the FDA to initiate a Tarvacin™ Phase I clinical trial for the treatment of Hepatitis C virus infection. Peregrine Pharmaceuticals is also developing Vascular Targeting Agents, Anti-Angiogenesis, and Vasopermeation Enhancement Agents (VEAs) for the treatment of cancer and other diseases.

Peregrine Pharmaceuticals also has in-house expertise to develop and manufacture antibodies and recombinant proteins through its wholly-owned subsidiary, Avid Bioservices, Inc., (http://www.avidbio.com). Avid is engaged in providing contract manufacturing services and development of biologics for biopharmaceutical and biotechnology companies, including Peregrine.

Copies of Peregrine Pharmaceuticals press releases, SEC filings, current price quotes and other valuable information for investors may be found at http://www.peregrineinc.com.

SOURCE Peregrine Pharmaceuticals, Inc.

Investors, Frank Hawkins or Ken AuYeung, both of Hawk Associates, Inc., +1-800-987-8256, info@hawkassociates.com; or Media, Rachel Martin of Edelman, +1-323-202-1031, or +1-323-893-9047, Rachel.Martin@edelman.com, all for Peregrine Pharmaceuticals, Inc.