This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Peregrine Pharma: The Partner Guessing Game

Stocks in this article: PPHM BMY PFE AZN GSK LLY

TUSTIN, Calif. ( TheStreet) --Further thoughts on Peregrine Pharmaceuticals (PPHM) following its conference call Monday discussing the bavituximab lung cancer data:

Peregrine says the bavituximab survival benefit observed in the phase II study is "similar" in patients across geographies. No details were offered, however, nor did the company say when we might see those data.

"We couldn't have conducted a more well-balanced clinical trial," company executives said.

Fine, but let's see the data. Real data, please! Let's see how lung cancer patients enrolled in India and Eastern Europe fared against those coming from the U.S.

It may have been my bavituximab skepticism shining through, but it certainly sounded to me as if Peregrine executives were lowering expectations for the survival results from the other phase II study in first-line lung cancer. We're supposed to see those survival data before the end of the year, which could go a long way to supporting or debunking Friday's bavituximab data in the second line.

Partnering discussions for bavituximab are moving forward at a "very active pace," said Peregrine. The company wants a deal in place before it meets with FDA later this year to clear the phase III study design. At the very least, Peregrine says to expect a partnership before the phase III study begins in the middle of next year.

Let's play a parlor game: Guess the bavituximab partner. AstraZeneca (AZN) is perhaps the most likely suitor out of Europe given its desperation for new pipeline drugs.

Novartis (NVS) is a maybe, except for the bad taste left in its mouth from the Antisoma partnership that ended in failure in 2010. Antisoma's lung cancer drug was similar to Peregrine's in that they both target lung cancer blood vessels. Does Novartis want to go down this route again?

Hard to see GlaxoSmithKline (GSK) or Roche (RHHBY) interested in bavituximab given their focus on anti-PD-1 antibodies . PD-1 is a hot cancer immunotherapy target, especially after promising data were presented at this year's ASCO conference in June.

Merck KGaA loves lung cancer immunotherapy but is already engaged to Oncothyreon (ONTY).

Closer to home, Bristol-Myers Squibb (BMY) and Merck (MRK) are also working on anti-PD1 antibodies. Bristol, in fact, is moving a PD-1 drug into phase III studies, including in lung cancer. Again, why pay money to license bavituximab if you're already working on a competing cancer immunotherapy technology -- and one that has a lot more buzz.

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs