Breast Cancer

Peregrine Pharmaceuticals Reports Financial Results for Fiscal Year 2008

Published in Cancer Weekly, July 29th, 2008

Peregrine Pharmaceuticals, Inc. (NASDAQ:PPHM), announced financial results for fiscal year (FY) 2008 ended April 30, 2008. Total revenues for FY 2008 increased 64% to $6,093,000, primarily reflecting increased sales by Avid Bioservices, the company's wholly owned contract manufacturing subsidiary.

Total costs and expenses in FY 2008 increased to $30,233,000 from $25,618,000 in FY 2007. Increased costs of contract manufacturing directly related to the increase in Avid's revenues accounted for almost one-third of the increase in total expenses. Most of the remainder of the increase was due to the company's increased investment in research and development associated with...

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Source: Cancer Weekly (2008-07-29)

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