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Peregrine dives again as bavituximab data problems trigger loan call-in

This article was originally published in Scrip

Executive Summary

Peregrine Pharmaceuticals' stock price fell 18.7% to $1.35 per share in after-hours trading on 26 September after the company revealed that it has enough cash to fund its operations only until early 2013, because major data discrepancies from a Phase IIb clinical trial for bavituximab in the treatment of non-small cell lung cancer (NSCLC) constituted a default and required repayment of a brand new $30 million loan.

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