Shares of Peregrine Pharmaceuticals (PPHM -15%) are hit hard today on the back of another...

|About: Peregrine Pharmaceuticals Inc. (PPHM)|By:, SA News Editor

Shares of Peregrine Pharmaceuticals (PPHM -15%) are hit hard today on the back of another negative Seeking Alpha article, this time from Chimera Research, claiming that the company's weak finances and disappointing clinical data reported to date on its pipeline drugs give no valid reason to justify its current market cap, much less owning the stock at all at current levels. Last week SA contributor Apsara Biotech had slammed the company, calling the current results for its cancer drug Bavi "overhyped."