Peregrine shares spike on positive PhII brain cancer data

Shares of Peregrine Pharmaceuticals (PPHM) jumped 15 percent in early trading this morning after the developer announced some positive interim data from a small mid-stage study of its brain cancer drug. A group of 14 patients with brain cancer lived a median average of 86 weeks after treatment, compared to only 24 weeks the average patient can expect. And after nine years two of the patients are still alive. Researchers are recruiting 40 glioblastoma patients for the current study. "We look forward to completing enrollment of the few remaining patients in this Phase II trial before the end of this year and reporting data by mid-year next year," says Joseph Shan, M.P.H., vice president, clinical and regulatory affairs. "Once this trial is completed and we have analyzed the data, we plan to meet with the FDA to determine the optimal registration pathway for Cotara." Peregrine release