PEREGRINE PHARMACEUTICALS REPORTS FISCAL YEAR 2006 SECOND QUARTER RESULTS

Peregrine Pharmaceuticals, Inc. (Nasdaq: PPHM), a biopharmaceutical company with a portfolio of innovative, clinical stage product candidates for viral diseases and cancer, today announced financial results for the second quarter of fiscal year 2006 ended October 31, 2005. The company reported a consolidated net loss of $4,571,000, or $0.03 per basic and diluted share, compared to $3,638,000, or $0.03 per basic and diluted share, for the prior year period.
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