Peregrine Pharmaceuticals ( NASDAQ: PPHM ) stock moving higher as traders accumulated stock to play its earnings which will be announced on July 16 2012 Monday after markets close. Traders are betting on some positive developments in the company as well as its continuing clinical trials of Bavituximab. Stock rallied more than 45 % in last three trading session and trading above $1 on friday.Traders might approach the trade with caution as stock has continued its upmove since last 3 trading session. Still small buy might be a good strategy to trade Peregrine Pharmaceuticals stock.

About  Peregrine Pharmaceuticals, Inc.


Peregrine Pharmaceuticals, Inc. (Peregrine) is a clinical-stage biopharmaceutical company that develops and manufactures monoclonal antibodies for the treatment of cancer and viral infections. As of April 30, 2011, the Company had three Phase II clinical programs, including two oncology programs, as well as a hepatitis C virus (HCV) program. Peregrine’s pipeline of investigational monoclonal antibodies is based on two technology platforms, including phosphatidylserine (PS)-targeting antibodies and deoxyribonucleic acid (DNA)/histone-targeting antibodies. Bavituximab is its PS-targeting antibody. Cotara is the Company’s DNA/histone-targeting antibody-based on its Tumor Necrosis Therapy (TNT) technology platform. Peregrine’s wholly owned biomanufacturing subsidiary is Avid Bioservices, Inc., which provides integrated cGMP commercial and clinical manufacturing services for Peregrine and third-party clients.