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Peregrine Pharmaceuticals secures extension to meet Nasdaq noncompliance

Nasdaq granted Peregrine Pharmaceuticals Inc. additional time to regain compliance with the $1 minimum bid price requirement.

The company has until July 21 to comply with the listing standard.

Peregrine Pharmaceuticals recently received stockholder approval for an up to 1-for-7 reverse stock split of its common stock. The company has until July 7 to implement the stock split to prove its compliance with the listing rule.