San Diego, CA -- (SBWIRE) -- 03/22/2016 -- An investigation for shareholders of Peregrine Pharmaceuticals (NASDAQ:PPHM) was announced over potential securities laws violations by Peregrine Pharmaceuticals in connection certain financial statements.

Investors who purchased shares of Peregrine Pharmaceuticals (NASDAQ:PPHM), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on whether a series of statements by Peregrine Pharmaceuticals regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

On February 25, 2016, Peregrine Pharmaceuticals revealed that it was discontinuing the Company's phase III SUNRISE trial of bavituximab in patients with previously treated locally advanced or metastatic non-squamous non-small cell lung cancer. Peregrine Pharmaceuticals said that the decision to stop the trial was based on the recommendation of the study's Independent Data Monitoring Committee, which found that the bavituximab plus docetaxel group was underperforming when compared to the docetaxel group. Peregrine Pharmaceuticals also announced that it had put other chemotherapy combination studies on hold until it had a clear understanding of the SUNRISE study results.

Shares of Peregrine Pharmaceuticals (NASDAQ:PPHM) declined to as low as $0.37 per share on February 26, 2016, respectively $0.33 per share on March 2, 2016.

On March 18, 2016, NASDAQ:PPHM shares closed at $0.44 per share.

Those who purchased shares of Peregrine Pharmaceuticals (NASDAQ:PPHM) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com