Peregrine closes institutional investment deal

Biopharmaceutical firm Peregrine Pharmaceuticals has closed an offering for $2.9 million shares of its common stock in exchange for $1.8 million from an institutional investor. With the new investment, the Tustin, CA-based firm said it now has $10 million in cash to fund its clinical trials, contract-manufacturing operations, and R&D. The shares were sold pursuant to the company’s shelf registration statement on Form S-3, filed with the U.S. Securities and Exchange Commission.

By AuntMinnie.com staff writers
August 14, 2002

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