Tuesday is such a sorry trading session on the OTC that we thought we would take the opportunity to do some chest beating around here for new readers. In April, we touched on our theory that Peregrine Pharmaceuticals Inc. (PPHM) was at the bottom and a must buy penny stock for long-term traders. From the April 23 open to mid-day today, PPHM stock has gained 568.29%, topping out a few weeks ago at 3.21 for a 682.93% gain since our initial alert. Did you know that we know how to pick penny stocks?
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PPHM Stock Chart
Market Cap: 282.31M
Last: 2.74, up 0.20 (7.87%)
Average Trade Size: 413
Issued and Outstanding: 104,174,056
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We issued a penny stock alert to our premium subscribers on that weekend in April prior to the Monday open for Peregrine Pharmaceuticals. Opening at 0.41 and closing at 0.42 on just 330K shares traded, people thought we were a joke. Little did they know, we pick penny stocks and note what we think about them, long, short, day or swing, but rarely ever are we gonna put our name on something that could be a loser.
Now that PPHM is up over 500%, its now on the top traded list for the Nasdaq and about to embark on FDA approval for their double-blind, placebo controlled, Phase II bavituximab trial in second-line non-small cell lung cancer. Traders who know that FDA approval costs millions and takes years, even decades, were wise enough to throw a couple grand into PPHM and avoid pump and dumps like Pristine Solutions (PRTN) who is throwing the FDA approval phrase around like its a sticker you get out of a cracker jack box.
Facing the possibility of delisting and crashing their Phase II oncology program’s lead product candidate, bavituximab, PPHM stock plunged from 90 cents to 68 cents in March. Roth capital even lowered their price target on the penny stock to $7 from $10 back then. At 0.41, it was a steal, at $1, it was a bargain, at $2, it was gaining momentum, at $3.21, PPHM was now nearly half way to meeting the target price issued to it and up 683% from our alert in 4 months.
About PPHM Stock
Peregrine Pharmaceuticals, Inc. is a biopharmaceutical company with a portfolio of innovative monoclonal antibodies in clinical trials focused on the treatment and diagnosis of cancer. The company is pursuing multiple clinical programs in oncology with its lead product candidate bavituximab and novel brain cancer agent Cotara®. Peregrine also has in-house cGMP manufacturing capabilities through its wholly-owned subsidiary Avid Bioservices, Inc., which provides development and biomanufacturing services for both Peregrine and outside customers.
Click here to see our alert on PPHM.
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