Biopharmaceutical company committed to improving the lives of patients by delivering high quality pharmaceutical products through its contract development and manufacturing organization (CDMO) services and through advancing and licensing its investigational immunotherapy and related products, Peregrine Pharmaceuticals, Inc. (NASDAQ:PPHM), announces that its subsidiary, Avid Bioservices, Inc. will participate at two upcoming industry conferences.
TUSTIN, CA–(Marketwired – Dec 9, 2016) – Avid Bioservices, Inc., a wholly owned subsidiary of Peregrine Pharmaceuticals, Inc. ( NASDAQ : PPHM ) ( NASDAQ : PPHMP ), today announced that the company will attend and participate at two upcoming life sciences industry conferences. The company will host a corporate booth in the exhibit hall at KNect365 Life Sciences’ Antibody Engineering & Therapeutics conference. In addition, Pete Gagnon, Avid’s vice president, process sciences, will present a case study on innovative applications for antibody manufacturing processes at the 16th Annual Global Bioproduction Summit.
Details of these activities are as follows:
KNect365 Life Sciences’ Antibody Engineering & Therapeutics: December 11-15, 2016, San Diego, CA
Avid will host corporate booth #209 showcasing the company’s comprehensive range of process development, high quality cGMP clinical and commercial manufacturing services for the biotechnology and biopharmaceutical industries. These include a variety of innovative processes for generating a broad range of biopharmaceutical product types such as monoclonal antibodies, highly-glycosylated recombinant proteins and enzymes, among others. These capabilities also extend to the manufacture of biosimilar products and are designed to support the overall ongoing growth of the company’s contract manufacturing business.
16th Annual Global Bioproduction Summit: December 12-13, 2016, San Diego, CA
Mr. Gagnon will present a case study highlighting the importance of managing keystone contaminants in downstream processing. The presentation, which will take place from 10:55 – 11:25 a.m. (Pacific) on Monday, December 12th, will detail streamlined manufacturing processes for removing chromatin from cell culture harvests to enable improved purification process economics and product quality. The content of this case study showcases the industry-leading manufacturing expertise that Avid offers to its clients.
For additional details on these events, please visit: https://lifesciences.knect365.com/antibody-engineering-therapeutics/ and http://www.biologicalproduction.com/.
About Avid Bioservices
Avid Bioservices provides a comprehensive range of process development, high quality cGMP clinical and commercial manufacturing services for the biotechnology and biopharmaceutical industries. With over 15 years of experience producing monoclonal antibodies and recombinant proteins in batch, fed-batch and perfusion modes, Avid’s services include cGMP clinical and commercial product manufacturing, purification, bulk packaging, stability testing and regulatory strategy, submission and support. The company also provides a variety of process development activities, including cell line development and optimization, cell culture and feed optimization, analytical methods development and product characterization. For more information about Avid, please visit www.avidbio.com.
About Peregrine Pharmaceuticals, Inc.
Peregrine Pharmaceuticals, Inc. is a biopharmaceutical company committed to improving the lives of patients by delivering high quality pharmaceutical products through its contract development and manufacturing organization (CDMO) services and through advancing and licensing its investigational immunotherapy and related products. Peregrine’s in-house CDMO services, including cGMP manufacturing and development capabilities, are provided through its wholly-owned subsidiary Avid Bioservices, Inc. (www.avidbio.com), which provides development and biomanufacturing services for both Peregrine and third-party customers. The company is also working to evaluate its lead immunotherapy candidate, bavituximab, in combination with immune stimulating therapies for the treatment of various cancers, and developing its proprietary exosome technology for the detection and monitoring of cancer. For more information, please visit www.peregrineinc.com.
Shares of Peregrine Pharmaceuticals, Inc. (NASDAQ:PPHM) are actively moving +23.9393% thus far today on the news and have traded in the range of $0.3260 – 0.4069 during the session. A number of research firms have recently weighed in on the stock, providing future price targets. The covering firms currently have a consensus one-year price target of $1.0000 on the stock. This is according to brokerage analysts polled by Thomson Reuters First Call. This is the average number from the individual targets provided by the firms. Analysts are projecting earnings per share of $-0.0400 for the next fiscal quarter. For the current year, analysts are predicting earnings of $-0.1500 per share according to First Call.
In looking at where the stock is trading on a technical level, the stock is trading +25.7360% away from its 50-day moving average of $0.3183. Based on the most recent available data, the equity is -69.4504% off of its 52-week high of $1.3100 and +38.0000% away from its 52-week low which is $0.2900.
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Today, the stock opened at $0.3260 and the last bid at the time of writing stood at $0.4002. During the session thus far, the equity dipped down to $0.3260 and touched $0.4069 as the high point. Peregrine Pharmaceuticals, Inc. (NASDAQ:PPHM) has a market cap of $97.00M and has seen an average daily volume of 1,320,230 over the past three months.
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