Business

Peregrine Pharmaceuticals stock collapses

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Peregrine Pharmaceuticals Inc.’s stock collapsed after the cancer drug developer said the survival rates from its mid-stage lung cancer study reported this month were unreliable, due to a third-party error in conducting the study. A tenfold rise in the stock price over the summer was lost, and the news removed nearly half a billion dollars in market value,
Wallstcheatsheet.com reported.

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