PEREGRINE PHARMA POSTS WIDER 1Q LOSS

Cancer drug developer Peregrine Pharmaceuticals Inc. reported a wider first-quarter loss on Friday, citing lower contract manufacturing revenue, as well as increased staffing and research expenses. Losses grew to $4.3 million, or 3 cents per share, from $3.4 million, or 2 cents per share, a year ago. Revenue fell to $208,000 from $504,000 last year, as contract manufacturing revenue declined due to fewer external manufacturing projects being conducted during the first quarter.

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