Phase II Fail Wings Peregrine, but Bavituximab Moves Forth

Although hopes had not been high for the Phase II study in first-line non-small-cell lung cancer (NSCLC) to begin with, and the company – after talking with the FDA – still plans to go ahead with a Phase III trial, investors looked askance at Peregrine Pharmaceuticals Inc.'s latest snag with the cancer drug bavituximab.