Peregrine Pharmaceuticals (PPHM) Tops Q4 EPS by 1c

Peregrine Pharmaceuticals (NASDAQ: PPHM) reported Q4 EPS of ($0.06), $0.01 better than the analyst estimate of ($0.07). Revenue for the quarter came in at $6.47 million versus the consensus estimate of $4.75 million.

Contract manufacturing revenues from Avid's clinical and commercial biomanufacturing services provided to its third-party clients were $22,294,000 for FY 2014 compared to $21,333,000 for FY 2013. Current contract manufacturing commitments from Avid's third-party customers are in excess of $26 million, covering services to be provided during FY 2015 and into FY 2016. Based on these current commitments, Peregrine expects contract manufacturing revenues for FY 2015 to be between $19 and $23 million. In addition to providing biomanufacturing services to its third-party clients, Avid will continue to support the potential commercialization of bavituximab.

For earnings history and earnings-related data on Peregrine Pharmaceuticals (PPHM) click here.

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