Peregrine reports revised lung cancer trial data

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Peregrine reports revised lung cancer trial data

(Reuters) - Peregrine Pharmaceuticals Inc reported revised results from a mid-stage lung cancer study of its experimental drug bavituximab that appeared to be not as good as the data it originally posted in early September. The company's shares, which were up in premarket trade on Tuesday, fell as much as 10 percent on open on the Nasdaq. They later recouped their losses to trade flat around midday. "I think what may be contributing to the (share fall) is that the difference in overall survival is not statistically significant," McNicoll, Lewis & Vlak analyst George Zavoico said in an email. ...

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