Peregrine (NAS: PPHM) saw shares jump up a very healthy 81% in November, but the stock is still down 75% from its 52-week high back in September, so it still has a long way to go to make up that ground. The stock crashed from its September rates after the bursting of incredible optimism around its non-small-cell lung cancer drug Bavituximab's phase 2 trial results, when the company revealed that the data from those results was handled improperly and thus inaccurate. However, this isn't to say that the drug doesn't work; Peregrine still has Bavituximab in trials for multiple types of cancer. This rebound in the stock may be showing that investors are now comfortable coming back to Peregrine at its lower valuation, for the promise it may still have.
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The article Is Peregrine's November Surge a Dead Cat Bounce? originally appeared on Fool.com.David Williamson, Max Macaluso, and The Motley Fool has no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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