Peregrine Pharma Shares Drop After Quarterly Results Fall Short

By Wallace Witkowski Markets MarketWatch Pulse

Peregrine Pharmaceuticals Inc. shares fell in the extended session Friday after the biotech drug company's quarterly results fell short of Wall Street estimates. Peregrine shares fell 13% to $4.85 after hours. The company reported a fiscal fourth-quarter loss of 16 cents a share on revenue of $17.9 million. Analysts surveyed by FactSet had forecast a loss of 4 cents a share on revenue of $22.6 million.

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