Peregrine Shares Gain on Bavituximab Phase IIb in NSCLC

Shares of Peregrine Pharmaceuticals Inc. (NASDAQ:PPHM) jumped more than 30 percent at Monday's opening bell before settling back to a 20.5 percent gain on positive top-line results from the company's randomized, double-blind, placebo-controlled Phase IIb study evaluating two dose levels of bavituximab plus docetaxel compared to docetaxel plus placebo in patients with second-line non-small-cell lung cancer (NSCLC).