Earnings: Peregrine Pharmaceuticals Drops as Q4 Loss Widens, Misses Street

Peregrine Pharmaceuticals Inc (PPHM) is down after its fourth quarter results fell short of analysts' expectations.

The drug manufacturer reported losses widening to $7.7 million, or 16 cents a share, compared to a loss of $3.6 million, or 9 cents a share, a year ago. Revenue fell 44% to $4.4 million. Analysts polled by Thomson Reuters had expected a loss of 9 cents a share on revenue of $7 million.

Shares in the Tustin, California-based company opened at $1.82, and have traded between $1.75 and $4.74 over the past 12 months.

Companies: Peregrine Pharmaceuticals Inc
Price: 1.78 Price Change: -0.12 Percent Change: -6.32

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