Exhibit 99.1
Contacts: | ||
Jay Carlson | Stephanie Diaz (Investors) | Tim Brons (Media) |
Peregrine Pharmaceuticals, Inc. | Vida Strategic Partners | Vida Strategic Partners |
(800) 987-8256 | 415-675-7401 | 415-675-7402 |
info@peregrineinc.com | sdiaz@vidasp.com | tbrons@vidasp.com |
PEREGRINE PHARMACEUTICALS DECLARES QUARTERLY DIVIDEND ON ITS SERIES E CONVERTIBLE
PREFERRED STOCK
TUSTIN, Calif., June 2, 2016 -- Peregrine Pharmaceuticals, Inc. (Nasdaq:PPHM) (Nasdaq:PPHMP) today announced that its Board of Directors has declared a quarterly cash dividend payment on the Company's 10.50% Series E Convertible Preferred Stock (the "Series E Preferred Stock").
The quarterly dividend on the Series E Preferred Stock is payable on July 1, 2016 to holders of record at the close of business on June 17, 2016.
The quarterly dividend payment on the Series E Preferred Stock will be $0.65625 per share, which is equivalent to an annualized 10.50% per share, based on the $25.00 per share stated liquidation preference, accruing from April 1, 2016 through June 30, 2016. The Series E Preferred Stock is listed on the NASDAQ Capital Market and trades under the ticker symbol "PPHMP".
About Peregrine Pharmaceuticals, Inc.
Peregrine Pharmaceuticals, Inc. is acompany focused on continued revenue growth from its contract manufacturing business and developing its novel immuno-oncology products. The company is working to evaluate its lead immunotherapy candidate, bavituximab,in combination with a range of novel immuno-oncology (I-O) agents for the treatment of various cancers. Peregrine’s in-house cGMP manufacturing capabilities are provided through its wholly-owned subsidiary Avid Bioservices, Inc. (www.avidbio.com), which provides development and biomanufacturing services for both Peregrine and third-party customers. For more information, please visitwww.peregrineinc.com.