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Biotech / Medical : Peregrine Pharmaceuticals, Inc.( PPHM)
PPHM 4.220+0.7%Jan 5 4:00 PM EST
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To: cjgaddy who wrote (530)8/13/2003 12:31:59 PM
From: Tadsamillionaire   of 3795
 
TUSTIN, Calif. (Dow Jones)--Peregrine Pharmaceuticals Inc. (PPHM) and
privately held MediPharm BioTech Inc. received Chinese marketing approval for
the Iodine-131 radiolabeled tumor necrosis therapy.

In a press release Wednesday, the companies said Iodine-131 labeled TNT was
approved for the treatment of stage III and IV advanced lung cancer through
either intravenous or intratumoral administration of two doses given two to
four weeks apart.

Chinese drug company MediPharm said that of the patients treated in a
registration study, 3.74% had complete remission, 30.84% had partial remission
involving at least 50% tumor shrinkage, 55.14% reported stable disease and
10.28% reported disease progression.

Prior to market launch, China's State Food and Drug Administration must
inspect and approve the manufacturing facility that will make the TNT therapy.

MediPharm plans to continue testing TNT for other cancer indications and is
optimistic that it will file for Chinese marketing approval of these additions.

Peregrine signed a $1.8 million development agreement with MediPharm in
September 2001 to provide product development and contract manufacturing
services pending Chinese approval of TNT technology.

Shares of Peregrine traded recently at $1.75, up 41 cents, or 30.6%, on
Nasdaq volume of 11.5 million shares. Average daily volume is 2.2 million
shares. The stock hit a 52-week high of $2.19 on June 12 and a 52-week low of
35 cents on Oct. 9.

Company Web site: peregrineinc.com
-Susan Willetts; Dow Jones Newswires; 201-938-5400

(END) Dow Jones Newswires
08-13-03 1120ET
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