The Microcap Kitchen: Stocks 5¢ to $5 Message Board

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Microcap & Penny Stocks : The Microcap Kitchen: Stocks 5¢ to $5

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From: elmstreet	7/4/2007 3:17:55 PM
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PPHM - Not sure - is this good or bad investment now? Peregrine to Sell $22.5M Worth of Sharesadvertisement Related information E-mail this article Print-friendly version Discuss this articleStocks mentioned in this articlePeregrine Pharmaceuticals (PPHM) Stock Quote, Chart, NewsRelated topics All Associated Press NewsTUSTIN, Calif. (AP) - Biotechnology company Peregrine Pharmaceuticals Inc. said Thursday it received commitments from several institutional investors to buy up to 30 million common shares for about $22.5 million through a registered direct offering. The purchase price equates to about 75 cents per share, representing a 16 percent discount to the stock's Thursday closing price of 89 cents. Shares slipped 8 cents, or 9.5 percent, to 81 cents in aftermarket trading.

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