Sept. 25, 2012 (Shareholders Foundation) -- An investigation on behalf of investors of Peregrine Pharmaceuticals (NASDAQ:PPHM) shares over potential securities laws violations by Peregrine Pharmaceuticals and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Peregrine Pharmaceuticals (NASDAQ:PPHM) concerning whether a series of statements by Peregrine Pharmaceuticals regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Peregrine Pharmaceuticals (NASDAQ:PPHM) reported that its Total Revenue rose from $13.49 million for the 12 months period that ended on April 30, 2011 to $15.23 million for the 12 months period that ended on April 30, 2012.
However, its Net Loss over the respective time periods increased from $34.15 million to $42.12 million.

Shares of Peregrine Pharmaceuticals (NASDAQ:PPHM) grew from $0.43 per share in early June 2012 to as high as $5.37 per share on September 21, 2012.

Then on September 24, 2012 Peregrine Pharmaceuticals announced that it had discovered major discrepancies in treatment group cofding by an independent third-party vendor responsible for distribution of blinded investigational product used in its bavituximab phase II second-line non-small cell lung cancer trial.

Shares of Peregrine Pharmaceuticals (NASDAQ:PPHM) dropped from $5.36 per share on Friday to as low as $1.109 per share on Monday, September 24, 2012.

On September 25, 2012, NASDAQPPHM shares close3d at $1.70 per share