Peregrine Pharmaceuticals Inc was originally incorporated in California in June 1981 and reincorporated in the State of Delaware on September 25, 1996. The Company is a biopharmaceutical company developing monoclonal antibodies for the treatment and diagnosis of cancer. It is advancing its two oncology programs with its product candidates, bavituximab and Cotara, for the treatment of various cancers. In addition, the Company is advancing its main imaging agent, 124I-PGN650, into clinical development for the imaging of multiple solid tumor types. The Company's pipeline of novel investigational monoclonal antibodies is based on two first-in-class technology platforms, including PS-targeting antibodies and DNA/histone-targeting antibodies. Bavituximab is its main therapeutic PS-targeting antibody, which has demonstrated broad therapeutic potential and represents a new approach to treating cancer. PGN650 is its PS-targeting imaging agent that represents a potential new approach to imaging cancer. PS is a immunosuppressive molecule usually located inside the membrane surface of healthy cells, but 'flips' and becomes exposed on the outside of cells that line tumor blood vessels, creating a specific target for anti-cancer treatments and for the imaging of multiple solid tumor types. Under its imaging program, in April 2012, the Company filed an exploratory Investigational New Drug ('IND') application with the FDA to advance its main imaging agent PGN650 into clinical development for the imaging of multiple solid tumor types. Regulation by governmental authorities in the U.S. and other countries is a significant factor in its ongoing research and development activities and in the production of its products under development. The Company's products and its research and development activities are subject to extensive governmental regulation in the U.S., including the Federal Food, Drug, and Cosmetic Act.