Peregrine Pharmaceuticals (PPHM) Announces Contract Negotiations With U.S. DTRA for Hemorrhagic Fevers
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Peregrine Pharmaceuticals, Inc. (Nasdaq: PPHM) announced that the company's proposal to investigate its antiviral agent bavituximab and other anti-phosphotidylserine (anti-PS) antibodies as potential therapies for hemorrhagic fever virus (HFV) infections has been selected for a contract award by the Defense Threat Reduction Agency (DTRA) of the U.S. Department of Defense (DOD), pending negotiation of a final contract. In its notification announcing the selection of Peregrine's proposal, DTRA stated that its goal is to finalize the contract award within the next few months.
In the proposal submitted to the DTRA, Peregrine has sought funding of approximately $44.5 million over the five years of the proposed project. The DTRA accepted Peregrine's full proposal as the basis for contract negotiations. The final scope of the contract award will be negotiated as part of this process.
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