BNET Industries

Market Cap:$133.2M
Last Fiscal Year Sales:$6.0M
  • Public
  • US
Dow Jones Description

We are a clinical stage biopharmaceutical company that manufactures and develops monoclonal antibodies for the treatment of cancer and serious viral infections. We are advancing three separate clinical programs with our novel compounds bavituximab and Cotara ® that are the first clinical candidates under our Anti-Phosphatidylserine ("Anti-PS") therapeutics and Tumor Necrosis Therapy ("TNT") platforms. In addition to our clinical programs, we are performing pre-clinical research on bavituximab and an equivalent fully human antibody as a potential broad-spectrum treatment for viral hemorrhagic fever infections under a contract awarded through the Transformational Medical Technologies Initiative ("TMTI") of the U.S. Department of Defense's Defense Threat Reduction Agency ("DTRA"). This federal contract is expected to provide us with up to $22.3 million in funding over an initial 24-month base period, with $14.3 million having been appropriated through the current federal fiscal year ending September 30, 2009. In addition to our research and development efforts, we operate a wholly owned cGMP (current Good Manufacturing Practices) contract manufacturing subsidiary, Avid Bioservices, Inc. ("Avid"). Avid provides contract manufacturing services for biotechnology and biopharmaceutical companies on a fee-for-service basis, from pre-clinical drug supplies up through commercial-scale drug manufacture. ...

President and Chief Executive Officer, Director
Steven W. King
Number of Employees 129
Contact Information

14272 Franklin Ave Ste 100

Tustin, California 92780-7017

peregrineinc.co...

(714) 508-6000

NAICS Code In-Vitro Diagnostic Substance Manufacturing: 325413

Recent Events

  • Peregrine Pharmaceuticals to Report Second Quarter FY 2010 Financial Results

    12/03/09 - Financial Announcement - View Story

  • Peregrine Pharmaceuticals Appoints Former Genentech Senior Executive Dr. Robert Garnick as Head of Regulatory Affairs

    10/24/09 - Mgmt. Change Entering - Legal - View Story

  • Peregrine Pharmaceuticals 1:5 Reverse Stock Split Takes Effect

    10/19/09 - Stock Split / Dividend - View Story

  • Peregrine Pharmaceuticals Forms Anti-Viral Research Group to Oversee Its Anti-PS Infectious Disease Collaborations

    10/07/09 - New Investment - View Story

  • Peregrine Pharmaceuticals Adds Noted Oncologist Dr. Bruce Chabner as Clinical Advisor to Support Advancement of...

    9/04/09 - Mgmt. Change Entering - Other - View Story

  • Peregrine boosts Q1 2010 revenues, halves losses

    9/08/09 - Financial Announcement - View Story

  • Peregrine announces NIAID funding for viral fever studies

    8/27/09 - Joint Venture / Alliance - View Story

  • Peregrine Pharmaceuticals Licenses Anti-VEGF Antibodies to Affitech

    7/22/09 - Joint Venture / Alliance - View Story

  • Peregrine Pharmaceuticals, Inc. PPHM Licenses Anti-VEGF Antibodies to Affitech AS

    7/22/09 - Licensing / Contract - View Story

  • Peregrine and Affitech sign licensing agreement

    7/23/09 - Joint Venture / Alliance - View Story

  • Peregrine Pharmaceuticals Licenses Anti-VEGF Antibodies to Affitech

    7/22/09 - Licensing / Contract - View Story

  • Peregrine Pharmaceuticals Reports Financial Results for Fiscal Year 2009

    7/14/09 - Legal Settlement - View Story

  • Peregrine Pharmaceuticals Reports Financial Results for Fiscal Year 2009

    7/14/09 - Financial Announcement - View Story

News & Analysis

finance and peregrine pharmaceuticals inc. - All News and Analysis

Decision Makers

Name (plus bio) Position
Steven W. King President and Chief Executive Officer, Director
Paul J. Lytle Chief Financial Officer
William Jay Treat COO
Richard A. Richieri Senior V.P. Bioprocess Development and Manufacturing
F David King V.P., Business Development
K.A. Ajit-Simh Vice President
Shelley Fussey Vice President, Intellectual Property
Christopher E Eso Director, Corporate Development
Arnold S Monto
David King
David Sherris Head, Business Development
John L Quick Consultant
Mary J. Boyd Head of Business Development for Asia and Europe
Preston A Marx
Stephen M Smith
Eric S. Swartz Director

Board of Directors

Name (plus bio) Position
Carlton M. Johnson Chairman of The Audit Committee
Thomas A. Waltz Chair of Board
David H. Pohl Board of Directors
Philip Thorpe Board of Directors

Organization Position Status
Avid Bioservices, Inc. CEO Current
Peregrine Pharmaceuticals, Inc. President and Chief Executive Officer, Director Current
Avid Bioservices, Inc. President Current
Peregrine Pharmaceuticals, Inc. Board of Directors Current
Peregrine Pharmaceuticals, Inc. Chief Operating Officer Former
Texas Tech University MS Degrees In Biology Former
Texas Tech Masters Degrees Former
Texas Tech Bachelor's Former
Texas Tech University BS Former

Paul Lytle has served as Chief Financial Officer since August 2002. Mr. Lytle oversees Finance & Accounting, SEC Reporting, Investor Relations, Human Resources and Information Technology. Mr. Lytle started with Peregrine in March 1997 as Corporate Controller and has held positions of increasing responsibility at the company. Mr. Lytle was promoted to Vice President of Finance and Accounting and was elected as the company's Corporate Secretary in 2000. Mr. Lytle has been responsible for the development and implementation of numerous technology initiatives, increasing the company's efficiency in many areas, including finance. Mr. Lytle implemented a new interfaced accounting system and oversaw the installation of company networks and management information systems. During his tenure, Peregrine has raised over $100 million in equity financing from the public markets. Prior to joining Peregrine, Mr. Lytle worked for Deloitte & Touche LLP. Mr. Lytle holds a BS in Business Administration from the California State University at Long Beach and is a certified public accountant in the State of California and a member of the American Institute of Certified Public Accountants.

Organization Position Status
Peregrine Pharmaceuticals, Inc. Chief Financial Officer Current
American Institute of Certified Public Accountants Board of Directors Current
American Institute of Certified Public Accountants Member Current
Peregrine Pharmaceuticals, Inc. Corporate Controller Former
Deloitte Touche Tohmatsu Former
California State University BS In Business Administration Former

Organization Position Status
Peregrine Pharmaceuticals, Inc. COO Current

Richard Richieri has over ten years of experience in the biologics industry manufacturing proteins and antibodies. At Peregrine, as director of manufacturing, he was responsible for process development and manufacture of clinical trial materials. At Avid Bioservices, Mr. Richieri is responsible for all manufacturing including process development and facilities. Prior to joining Peregrine, he worked at Xoma Corporation where he was responsible for large-scale manufacturing and mammalian cell culture process development. Mr. Richieri received his Bachelor's degree from University of California, Los Angeles (UCLA) in Chemical Engineering and his M.S. from University of California, San Diego (UCSD) studying the dependency of antibody production on cell cycle kinetics. Mr. Richieri is licensed as an Exemptee Pharmacist by the Board of Pharmacy State of California.

Organization Position Status
Peregrine Pharmaceuticals, Inc. Senior V.P. Bioprocess Development and Manufacturing Current
Avid Bioservices, Inc. Senior Vice President of Bioprocess Development and Manufacturing Current
Peregrine Pharmaceuticals, Inc. Director of Manufacturing Former
XOMA Corporation Former
University of California, San Diego M.S. Former
University of California, Los Angeles Bachelor's Degree Former

David King, Vice President of Business Development, has over 20 years of commercial experience in the biopharmaceutical industry, including sales, marketing and extensive business development experience. His expertise in this area has led to the completion of significant corporate partnering deals with industry partners. He has identified, negotiated and closed a wide range of transactions including out-license, in-license, co-promotion and joint development and marketing agreements. Mr. King has an extensive network of contacts at biopharmaceutical companies in North America, Europe and Asia. Mr. King was formerly employed with Medinox, Inc., in San Diego, where he served as Vice President, Corporate Development. Previously, Mr. King held several executive and management level positions at various pharmaceutical companies, including Maxim Pharmaceuticals, DepoTech Corporation (now SkyePharma Ltd.), and Glaxo Inc. (now GlaxoSmithKline). He began his pharmaceutical industry career in sales and marketing for Stuart Pharmaceuticals (now AstraZeneca). Mr. King holds a bachelor's degree in Business Administration from Goshen College in Goshen, IN.

Organization Position Status
Peregrine Pharmaceuticals, Inc. V.P., Business Development Current
Medinox, Inc. Vice President, Corporate Development Former

Organization Position Status
Peregrine Pharmaceuticals, Inc. Vice President Current

Shelley Fussey joined Peregrine as Vice President, Intellectual Property in February 2005. Dr. Fussey will play a key role in Peregrine's US and international patenting, patent analysis and patent defense. An expert in European opposition procedures, portfolio analysis and counseling in the biotechnology arena, Dr. Fussey's expertise includes patent strategy for technologies...

Organization Position Status
Peregrine Pharmaceuticals, Inc. Vice President, Intellectual Property Current
University of Newcastle upon Tyne Ph.D. In Biochemistry Former
University of Newcastle upon Tyne B.Sc. In Biochemistry Former

Organization Position Status
Peregrine Pharmaceuticals, Inc. Director, Corporate Development Current
Peregrine Pharmaceuticals, Inc. Board of Directors Current
The Corporate Development Company Manager Former
Watson Pharmaceuticals, Inc. Former
Concordia University Master of Business Administration Former
California State University Bachelor's Degree In Communications Former

Organization Position Status
Peregrine Pharmaceuticals, Inc. Current

Organization Position Status
Peregrine Pharmaceuticals, Inc. Current
Medinox, Inc. Vice President, Corporate Development Former

Organization Position Status
Peregrine Pharmaceuticals, Inc. Head, Business Development Current

John L. Quick has been associated with Peregrine and Avid since mid-2004 as a consultant on quality and regulatory compliance. He is founder of Quick & Associates a consulting firm devoted to quality, regulatory compliance and new product development consulting. Mr. Quick retired from Baxter International after a 37 year career with the company with responsibility for new product development and quality management . In 1998, Mr. Quick was appointed corporate vice president quality/regulatory compliance responsible for all worldwide quality and regulatory compliance at Baxter, reporting to the Chairman and CEO, a position he held until his retirement. Mr. Quick is immediate past Chairman of the Board of the Lincoln Foundation for Performance Excellence and is Vice Chairman of the Board of Methodist Hospital of Chicago and its parent corporation. Mr. Quick has an undergraduate degree in Chemistry from Indiana University and an MBA from the Northwestern J.L. Kellogg Graduate School of Management. He holds three issued patents and has made numerous industry presentations on the subject of quality and regulatory compliance.

Organization Position Status
Peregrine Pharmaceuticals, Inc. Consultant Current
Methodist Hospital Vice Chairman of the Board Current
Baxter International Inc. Former
Quick and Associates Former
Performance Excellence Chairman of The Board Former
The Lincoln Foundation Chairman of the Board Former
Indiana University Undergraduate Degree In Chemistry Former

Dr. Boyd has more than 20 years of international pharmaceutical and biotechnology business development experience with large pharmaceutical companies including GlaxoSmithKline, Novartis and Roche. Dr. Boyd was previously director, Asia, worldwide business development, R&D for GlaxoSmithKline; head of business development and licensing in Japan for Novartis; and head, licensing and patent group for Roche in Japan. In these positions, she identified new opportunities, negotiated global agreements and maintained productive relationships with other companies. Dr. Boyd holds a Ph.D. in Developmental Genetics from the University of Cambridge, UK and a B.Sc. in Biochemistry from the University of Sussex, UK.

Organization Position Status
Peregrine Pharmaceuticals, Inc. Head of Business Development for Asia and Europe Current
University of Cambridge Ph.D. In Developmental Genetics Former
University of Sussex B.Sc. In Biochemistry Former

Organization Position Status
Peregrine Pharmaceuticals, Inc. Current

Organization Position Status
Peregrine Pharmaceuticals, Inc. Current
Seton Hall University Program Director, Infectious Diseases Fellowship Former
University of California, Davis Associate Professor Former

Organization Position Status
Roswell Capital Partners, LLC In-House Legal Counsel Current
Peregrine Pharmaceuticals, Inc. Chairman of The Audit Committee Current
Cryoport, Inc. Board of Directors Current
Patriot Scientific Corp Board of Directors Current
Peregrine Pharmaceuticals, Inc. Director Current
Alabama Bar Board of Directors Current
Alabama State Bar Board of Directors Current
The Florida Bar Board of Directors Current
Alabama State Bar Active Member Current
Alabama Bar Member Current
Escambia/Santa Rosa Bar Association Vice President Former
Auburn University Degree In History, Political Science Former

Thomas A. Waltz, MD, is senior consultant in neurosurgery and former head of the Division of Neurosurgery of Scripps Clinic in La Jolla, California. Dr. Waltz was chairman and CEO of the Scripps Clinic from 1991 2000, president of the Scripps Clinic Medical Group from 1990 2000, and staff neurosurgeon of the Clinic from 1977 to the present time. Dr. Waltz received his undergraduate degree from the University of Cincinnati and graduated from Vanderbilt University School of Medicine. He was a resident in neurosurgery at Baylor School of Medicine in Houston and held fellowships at the National Hospital of Neurological Diseases in London and in neuropathology at Oxford. Dr. Waltz also served with the United States Air Force as captain and flight surgeon. He is widely published in neurosurgery and lectures both nationally and internationally.

Organization Position Status
The Doctors Company Senior Consultant Current
Scripps Clinic Senior Consultant Current
Genoptix, Inc. Current
Peregrine Pharmaceuticals, Inc. Chair of Board Current
Premera Blue Cross Board of Directors Current
Scripps Clinic CEO Former
Scripps Clinic Chairman Former
The Doctors Company Board of Directors Former
Vanderbilt University M.D. Former
University of Cincinnati Undergraduate Degree Former
Vanderbilt University School of Medicine Former

Mr. Pohl served as Chairman of the Board, President and CEO of Patriot Scientific Corporation from June 2005 to June 2007, and was a member of its board of directors from April 2001 until February 2008. Mr. Pohl also served as an officer of Patriot from January 2001 to March 2002. He is currently Chairman of the Board of Wellness.com, Inc., a privately held Internet enterprise, and two of its affiliates. Mr. Pohl was in the private practice of law counseling business clients from 1997 to 2005, and from 1995 to 1996 was Special Counsel to the Ohio Attorney General regarding entrepreneurial investments by state employee pension funds. Previously, he was a Senior Attorney with Jones Day Reavis & Pogue, a large U.S. law firm, and held positions as a senior officer and general counsel in large financial services corporations that developed assets of more than $1 billion. Mr. Pohl is a member of the Corporate Directors Forum of San Diego, the Intellectual Property Law and Business Law Sections of the State Bar of California, has served as a member of the Board of Governors of the Corporate Counsel Section of the Ohio State Bar Association, and is an Emeritus member of the Board of Directors of the American Financial Services Association, Washington, D.C. Mr. Pohl earned a Juris Doctor degree from the Ohio State University College of Law, and also holds a B.S. in Administrative Sciences from Ohio State.

Organization Position Status
Wellness.Com, Inc. Chairman of The Board Current
Diversified Enterprises Group, LLC. Chairman Current
Corporate Directors Forum Board of Directors Current
Peregrine Pharmaceuticals, Inc. Board of Directors Current
Patriot Scientific Corp President Former
Patriot Co Officer Former
Wellness Inc. Chairman of the Board Former
Patriot Scientific Corp Chairman Former
Patriot Scientific Corp Director Former
The Ohio State University College of Law Juris Doctor Degree Former
The Ohio State University B.S. In Administrative Sciences Former
The Ohio State University Degrees In Law and Business Former

Eric S. Swartz has served as a director of Peregrine since 1999. Mr. Swartz is the founder and President of Roswell Capital Partners, LLC and previous founder and President of Equiplace Securities, LLC (formerly Swartz Investments, LLC), which he started in 1993. Prior to 1993, Mr. Swartz was a Vice President at Bear Stearns & Co. specializing in foreign institutional equity investments in U.S. securities. Prior to that, Mr. Swartz was a Vice President with Oppenheimer & Co., where he was involved in overseas placements of equity and debt for institutions in Germany, Austria, Switzerland, France, Australia, and New Zealand. Mr. Swartz has approximately 20 years of experience in the securities business.

Organization Position Status
Roswell Capital Partners, LLC President Current
Roswell Capital Partners, LLC Principal Owner Former
Oppenheimer & Co. Inc. Vice President Former
The Bear Stearns Companies Inc. Vice President Former
Roswell Capital Partners, LLC Founder Current

Organization Position Status
Peregrine Pharmaceuticals, Inc. Board of Directors Current

Executive News

  • Peregrine and Affitech sign licensing agreement

    TradingMarkets - 7/23/09 - View Story

  • Peregrine Pharmaceuticals, Inc. (PPHM) Licenses Anti-VEGF Antibodies to Affitech AS

    BioSpace - 7/22/09 - View Story

  • Peregrine Pharmaceuticals Licenses Anti-VEGF Antibodies to Affitech

    Reuters - 7/22/09 - View Story

  • Peregrine Pharmaceuticals Licenses Anti-VEGF Antibodies to Affitech

    SmartBrief - 7/22/09 - View Story

  • Peregrine Pharmaceuticals Licenses Anti-VEGF Antibodies to Affitech

    Street Insider - 7/22/09 - View Story

  • Peregrine Pharmaceuticals Reports Financial Results for Fiscal Year 2009

    KLFY - 7/14/09 - View Story

  • Peregrine Q4 Loss Narrows; Sees Very Positive FY10 - Update

    RTTNews.com - 7/14/09 - View Story

  • Peregrine Pharmaceuticals Reports Financial Results for Fiscal Year 2009

    NewsBlaze - 7/14/09 - View Story

  • Peregrine Pharmaceuticals, Inc. (PPHM) Awarded European Patent for Innovative Labeling Technology Featured in New Study in The Journal of Nuclear Medicine

    BioSpace - 7/01/09 - View Story

  • Peregrine Awarded European Patent for Innovative Labeling Technology Featured in New Study in The Journal of Nuclear Medicine

    PR Newswire - 7/01/09 - View Story

  • Peregrine Awarded European Patent for Innovative Labeling Technology Featured in New Study in The Journal of Nuclear Medicine

    PR Newswire via Yahoo! - 7/01/09 - View Story

  • Peregrine Pharmaceuticals, Inc. (PPHM) Awarded Broad New U.S. Patent for Vascular Imaging Applications of Its PS-Targeting Platform

    BioSpace - 6/24/09 - View Story

  • Peregrine Pharmaceuticals Awarded Broad New U.S. Patent for Vascular Imaging Applications of Its PS-Targeting Platform

    PR Newswire - 6/24/09 - View Story

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     PPHM $2.81 0.00 (0.00% )
Average Volume 648,262
Shares Outstanding 47.42M
Market Cap 133.3M
Year High 3.305
Year Low 0.2582
Earnings Per Share -0.25
P/E Ratio -11.24
Dividend N/A
Yield N/A
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