In case you missed it, Peregrine Pharmaceuticals (Techniclone) has a new CEO, who is also its largest stock-holder. PPHM's debt is now owed to its CEO; little risk of default, IMO. I'll defer to the experts, but to me, PPHM is developing some very interesting technology.
Friday April 6, 5:55 pm Eastern Time
Peregrine Pharmaceuticals names Legere as CEO
TUSTIN, Calif., April 6 (Reuters) - Peregrine Pharmaceuticals Inc. (NasdaqSC:PPHM - news) said on Friday it named Edward Legere as the cancer drug development company's president and chief executive.
Legere, who will retain his seat on the company's board, immediately replaces John Bonfiglio, who resigned to pursue other opportunities, the company said in a statement.
Legere has served as Peregrine's interim president and CEO since February, when Bonfiglio went on a leave of absence.
Legere, who originally joined the board as a director in 1992, has been on the board during seven of the past nine years. He is currently the largest beneficial owner of the company's common stock.
Legere's common stock ownership in Peregrine wasn't immediately available. |
