Item
1.01 Entry
into a Material Definitive Agreement.
On
June 30, 2008, Peregrine Pharmaceuticals, Inc. (the “Registrant”) entered into a
five-year contract worth up to $44.4 million to test and develop bavituximab and
an equivalent fully human antibody as potential broad-spectrum treatments for
viral hemorrhagic fever infections. The initial contract was awarded through the
Transformational Medical Technologies Initiative (TMTI) of the U.S. Department
of Defense's Defense Threat Reduction Agency (DTRA).
Under the
terms of the contact, DTRA funds are available to cover testing and development
efforts totaling up to $22.3 million over a 24-month base period, with $5
million appropriated immediately for the current federal fiscal year ending
September 30, 2008. The remainder of the $22.3 million in funding is expected to
be appropriated over the remainder of the two-year base period ending June 29,
2010. The contract can be extended by the DTRA beyond the base period to cover
up to $44.4 million in funding over the five-year contract period.
(c) Exhibits. The
following material is filed as an exhibit to this Current Report on Form
8-K:
Exhibit
Number
99.1 Press
Release issued July 1, 2008
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
| PEREGRINE PHARMACEUTICALS, INC. | |||
|
Date:
July 2, 2008
|
By:
|
/s/ Paul J. Lytle | |
| Paul J. Lytle | |||
| Chief Financial Officer | |||
EXHIBIT
INDEX
Exhibit
Number Description
99.1 Press
Release issued July 1, 2008