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Roth Reaffirms Peregrine Pharma (PPHM) at Buy; Prelim. Bavituximab + Sorafenib Phase I/II is Positive

March 14, 2014 2:14 PM EDT
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Price: $0.61 --0%

Rating Summary:
    3 Buy, 1 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 11 | New: 11
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Roth Capital affirms its Buy rating on Peregrine Pharmaceuticals (Nasdaq: PPHM) following an update on the ongoing Phase I/II IST of bavituximab in combination with sorafenib in liver cancer.

Analyst Joseph Pantginis said, We see this preliminary Phase I data as a positive for PPHM as the trial moves into Phase II. The Phase I data support dosing Phase II patients at the 3.0 mg/kg dose, which is the highest of the Phase I doses. The Phase I data also demonstrate that the combination led only to toxicities common to sorafenib and that no dose limiting toxicities were seen. The Phase II has enrolled 34 out of 38 patients and is a single-arm open-label trial with a primary endpoint of radiologic time to progression and with secondary endpoints of OS and PFS. Treatment has begun in 10 patients, with the longest patient on treatment for 18 months already.

What's the analysis? With Peregrine being a pivotal stage company, we view the risk/reward profile as favorable, and we believe visibility from the broadening bavi profile and partnering potential should drive the stock in 2014, Pantginis stated.

For an analyst ratings summary and ratings history on Peregrine Pharmaceuticals click here. For more ratings news on Peregrine Pharmaceuticals click here.

Peregrine Pharmaceuticals closed at $2.23 yesterday, with a 52 week range of $1.11 - $2.43.


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