Peregrine Pharmaceuticals Inc. ($PPHM) provides updates for its operations and financial results for the third quarter of the year. The company announced that its three clinical trials under the collaboration with the NCCN are advancing as planned. It also plans to continue the comprehensive biomarker analysis of data collected in the Phase III SUNRISE trial. Peregrine, along with its collaborators from Memorial Sloan Kettering Cancer Center, is also scheduled to present preclinical results from multiple studies at the upcoming AACR meeting in April.
Peregrine reported that its contract manufacturing revenue from Avid's biomanufacturing services provided to its third-party customers increased to nearly$10.75 million for the third quarter of FY 2017 compared to $6.67 million for the third quarter of FY 2016. Its total costs and expenses for the third quarter of FY 2017 were $18.54 million, compared to $23.58 million for the third quarter of FY 2016. The company’s consolidated net loss attributable to common stockholders was $9.21 million or $0.04 per share, for the third quarter of FY 2017, compared to a net loss attributable to common stockholders of $18.23 million, or $0.08 per share, for the same prior year quarter.
The company stock has gained 64 percent in the past 12 months while its gain this year so far stands at 117 percent.