Peregrine Pharmaceuticals is Flying High

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So what is Peregrine Pharmaceutical Inc business?

This company is a clinical-stage biopharmaceutical company that develops and manufactures monoclonal antibodies for the treatment of cancer and viral infections. As of April 30, 2011, the Company had three Phase II clinical programs, including two oncology programs, as well as a hepatitis C virus (HCV) program. Peregrine's pipeline of investigational monoclonal antibodies is based on two technology platforms, including phosphatidylserine (PS)-targeting antibodies and deoxyribonucleic acid (DNA)/histone-targeting antibodies. Bavituximab is its PS-targeting antibody. Cotara is the Company's DNA/histone-targeting antibody-based on its Tumor Necrosis Therapy (TNT) technology platform. Peregrine's wholly owned biomanufacturing subsidiary is Avid Bioservices, Inc., which provides integrated cGMP commercial and clinical manufacturing services for Peregrine and third-party clients (Compliments of Scottrade).

As you can see, this company’s main focus is using antibodies to targeting difficult cancers by either targeting a phospholipid called phosphatidylserine at the cell membrane or by targeting a DNA-histone complex . These are both effective mechanisms for targeting a cancer, especially if it is hard to reach by conventional manners.
More recently, Peregrine provided promising evidence that  bavituximab  improves tumor response and survival trends in a randomized Phase II trial for non-small cell lung cancer (NSCLC).
Additionally, Peregrine announced the start of investigator initiated Phase 1 trial with for up to 18 patients with stage II or III rectal adenocarcinoma with the Eastern Cooperative Oncology Group (ECOG) at Texas Southwestern Medical Center (http://ir.peregrineinc.com/releasedetail.cfm?ReleaseID=692072)

So why did I pick this company to blog about? Well, I did a stock screen for companies in healthcare>> Biotechnology and Drugs  that  were over 20% increase in stock price in the last  5 days and checked out the charts of the stock. This stock has had a terrific run for the last few days. The news on PPHM suggests that it will continue to increase; how much more is not known.

Both S&P and Reuters have improved their rating from the negatives to neutral (Rank 4) four days ago. This year is looking good for the Biotechnology stocks.

My 2 cents, as a stock, I would buy it (haha if I had money) at 1.80 is a bargain and watch it to continue its ride up. I would keep an eye on the technicals, because there is sure to be a dip that would be a buying point. Tell me what you think….

Check out the chart below: