UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
DC 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the
Securities
Exchange Act of 1934
Date of
Report (Date of earliest event reported): October 21, 2008
PEREGRINE PHARMACEUTICALS,
INC.
(Exact
name of registrant as specified in its charter)
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Delaware
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0-17085
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95-3698422
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(State
of other jurisdiction
of
incorporation)
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(Commission
File Number)
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(IRS
Employer
Identification
No.)
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14282
Franklin Avenue, Tustin, California 92780
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(Address
of Principal Executive Offices)
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Registrant’s
telephone number, including area code: (714)
508-6000
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Not
Applicable
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(Former
name or former address, if changed since last
report)
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Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2 below):
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o
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425).
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o
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Soliciting
material pursuant to Rule 14A-12 under the Exchange Act (17 CFR
240.14a-12)
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o
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR.14d-2(b))
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o
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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Item
3.01 Notice
of Delisting or Failure to Satisfy a Continued Listing Rule or Standard;
Transfer of Listing.
The
Company issued a press release on October 23, 2008 to announce the Panel’s
determination, a copy of which is attached hereto as Exhibit 99.1.
Information
contained herein, including the Exhibit attached hereto shall not be deemed
“filed” for purposes of Section 18 of the Securities Exchange Act of 1934,
as amended (the “Exchange Act”), or incorporated by reference in any filing
under the Securities Act of 1933, as amended, or the Exchange Act, except as
shall be expressly set forth by specific reference in such filing.
Item
9.01
Financial Statements and Exhibits.
(d)
Exhibits. The following material is filed as an exhibit to this
Current Report on Form 8-K:
Exhibit
Number
99.1 Press
Release issued October 23, 2008
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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PEREGRINE
PHARMACEUTICALS, INC.
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Date:
October 24, 2008
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By: /s/ Paul J.
Lytle
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Paul
J. Lytle
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Chief
Financial Officer
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EXHIBIT
INDEX
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Exhibit
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Number
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Description
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99.1
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Press
Release issued October 23, 2008
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Exhibit
99.1
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Contacts:
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GendeLLindheim
BioCom Partners
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Investors
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Media
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info@peregrineinc.com
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Barbara
Lindheim
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(800)
987-8256
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(212)
918-4650
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PEREGRINE
PHARMACEUTICALS RECEIVES ADDITIONAL TIME TO REGAIN
COMPLIANCE
WITH NASDAQ’S MINIMUM BID PRICE RULE
--Company
Now Has Until April 27, 2009 to Regain Compliance with
$1.00
Minimum Bid Price Rule--
TUSTIN, Calif., October 23,
2008 -- Peregrine Pharmaceuticals, Inc. (NASDAQ: PPHM), a clinical stage
biopharmaceutical company developing monoclonal antibodies for the treatment of
cancer and serious virus infections, today announced that it has received a
letter from NASDAQ that provides Peregrine with additional time to regain
compliance with the minimum bid price rule. Peregrine now has until
April 27, 2009 to regain compliance with NASDAQ’s $1.00 minimum bid price rule
in order to remain listed on The Nasdaq Stock Market. This extension
was granted as part of NASDAQ’s recently announced temporary suspension of the
minimum bid price and market value requirements for all NASDAQ-listed
companies.
As
previously announced, Peregrine received a letter from NASDAQ on September 16,
2008 informing the company that the Nasdaq Listing Qualifications Panel had
granted Peregrine's request to remain listed on NASDAQ, subject to the condition
that on or before January 20, 2009, Peregrine must have evidenced a closing bid
price of $1.00 or more for a minimum of ten prior consecutive trading
days. This deadline is now extended until April 27,
2009.
Peregrine
also announced that at the company’s Annual Meeting of Stockholders held on
October 21, 2008, stockholders approved a proposal that provides the company’s
Board of Directors with discretionary authority over the course of the next year
to implement a reverse split of the issued and outstanding shares of Peregrine's
common stock as a potential remedy to regain compliance with the $1.00 minimum
bid price rule.
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
serious virus infections. The company is pursuing three separate clinical
programs in cancer and HCV infection with its lead product candidates
bavituximab and Cotara®. Peregrine also has in-house manufacturing capabilities
through its wholly owned subsidiary Avid Bioservices, Inc.
(http://www.avidbio.com), which provides development and bio-manufacturing
services for both Peregrine and outside customers. Additional information about
Peregrine can be found at http://www.peregrineinc.com.
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