Peregrine Pharmaceuticals Regains Full Compliance With Nasdaq Continued Listing Requirements

PR Newswire

posted: 23 DAYS 22 HOURS AGO

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TUSTIN, Calif., Nov. 3 /PRNewswire-FirstCall/ -- Peregrine Pharmaceuticals, Inc. (Nasdaq: PPHMD) today announced that on November 3, 2009, the Company received notice from the NASDAQ Market Listing Qualifications Department stating that it has regained compliance with the minimum bid price rule for the continued listing of its common stock on the NASDAQ Capital Market, as set forth in NASDAQ Marketplace Rule 5550(a)(2).

Pursuant to NASDAQ's rules, Peregrine was required to evidence a closing bid price of at least $1.00 per share for 10 consecutive trading days. The letter received from NASDAQ confirms that this requirement has been met and that Peregrine is now in full compliance with all NASDAQ continued listing requirements. As a result, Peregrine's shares will continue to trade on the NASDAQ Capital Market.

About Peregrine Pharmaceuticals

Peregrine Pharmaceuticals, Inc. is a biopharmaceutical company with a portfolio of innovative monoclonal antibodies in clinical trials for the treatment of cancer and serious viral infections. The company is pursuing three separate clinical programs in cancer and HCV infection with its lead product candidates bavituximab and Cotara

2009-11-03 15:00:00