Peregrine Pharmaceuticals files $20.925 million stock shelf

By Jennifer Chiou

New York, March 31 - Peregrine Pharmaceuticals, Inc. registered to sell up to $20.925 million of common stock in an S-3 shelf filing with the Securities and Exchange Commission.

The company intends to sell 15 million shares at a proposed maximum offering price of $1.395 each.

Peregrine will use proceeds for general corporate purposes.

Peregrine is a Tustin, Calif., biopharmaceutical company that develops therapeutics for cancer and viruses using targeted monoclonal antibodies. The company's Cotara for brain cancer is in phase 2/3 trials.

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