Peregrine Pharmaceuticals Declares Quarterly Dividend on its Series E Convertible Preferred Stock
08 December 2017 - 8:05AM
Peregrine Pharmaceuticals, Inc. (Nasdaq:PPHM) (Nasdaq:PPHMP) today
announced that its Board of Directors has declared a quarterly cash
dividend payment on the Company's 10.50% Series E Convertible
Preferred Stock (the "Series E Preferred Stock").
The quarterly dividend on the Series E Preferred
Stock is payable on January 2, 2018 to holders of record at the
close of business on December 18, 2017.
The quarterly dividend payment on the Series E
Preferred Stock will be $0.65625 per share, which is equivalent to
an annualized 10.50% per share, based on the $25.00 per share
stated liquidation preference, accruing from October 1, 2017
through December 31, 2017. The Series E Preferred Stock is listed
on the NASDAQ Capital Market and trades under the ticker symbol
"PPHMP".
About Peregrine Pharmaceuticals,
Inc.Peregrine Pharmaceuticals, Inc. is a company
transitioning from an R&D focused business to a pure play
contract development and manufacturing organization (CDMO).
Peregrine's in-house CDMO services, including cGMP manufacturing
and development capabilities, are provided through its wholly-owned
subsidiary Avid Bioservices, Inc. (www.avidbio.com).
Peregrine is pursuing licensing or selling its
proprietary R&D assets, including its lead immunotherapy
candidate, bavituximab, which is currently being evaluated in
clinical trials in combination with immune stimulating therapies
for the treatment of various cancers. For more information,
please visit www.peregrineinc.com.
About Avid Bioservices, Inc.Avid Bioservices, a
wholly owned subsidiary of Peregrine Pharmaceuticals, provides a
comprehensive range of process development, high quality cGMP
clinical and commercial manufacturing services for the
biotechnology and biopharmaceutical industries. With over 20
years of experience producing monoclonal antibodies and recombinant
proteins in batch, fed-batch and perfusion modes, Avid's services
include cGMP clinical and commercial product manufacturing,
purification, bulk packaging, stability testing and regulatory
strategy, submission and support. The company also provides a
variety of process development activities, including cell line
development and optimization, cell culture and feed optimization,
analytical methods development and product characterization.
For more information about Avid, please visit www.avidbio.com.
Contacts:
Stephanie Diaz (Investors)
Vida Strategic Partners
415-675-7401
sdiaz@vidasp.com
Tim Brons (Media)
Vida Strategic Partners
415-675-7402
tbrons@vidasp.com
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