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Peregrine Pharmaceuticals, Inc. (Nasdaq: PPHM)

Company Overviewimg


Cotara is an experimental treatment for brain cancer that links a radioactive isotope to a targeted monoclonal antibody designed to bind to the DNA histone complex that is exposed by dead and dying cells found at the center of solid tumors. Cotara's targeting mechanism enables it to bind to the dying tumor cells, delivering its radioactive payload to the adjacent living tumor cells and essentially destroying the tumor from the inside out, with minimal radiation exposure to healthy tissue. Cotara is delivered using convection-enhanced delivery (CED), an NIH-developed method that targets the specific tumor site in the brain. In a previous clinical study, a subset of patients with recurrent glioblastoma treated with Cotara achieved a median survival of 38 weeks, a 58% increase over the historical median survival time of 24 weeks for patients treated with standard of care therapy. In this study, 25% of 28 recurrent patients survived for more than a year post-treatment and 10% of patients survived for more than three years. These data are considered a promising development in this deadly disease. In addition to the Phase II trial now underway in India, a dosimetry and dose confirmation trial in glioblastoma patients at leading U.S. academic brain cancer centers is nearing completion. Cotara has been granted orphan drug status and fast track designation for the treatment of glioblastoma multiforme and anaplastic astrocytoma by the U.S. Food and Drug Administration.

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Cobra Gas & Oil Company (CGCA)


Company Overviewimg

Cobra Oil & Gas Company (CGCA) was formed to identify, explore, and where determined advantageous, develop oil and gas reserves. The Company is currently developing two projects: Utah Oil Sands and Lodgepole & Bakken, in Montana.

In July 2009, CGCA finalized an agreement to purchase a 40% working interest in the Utah Oil Sands Project in Uintah County, Utah from Enercor, Inc. These leases comprise 33,632 acres in entirety, 23 federal leases and approximately 15% of the entire P.R. Spring oil sand deposit. The purchase contract stipulates that Cobra will pay $4.0 million in common stock on the initial closing date and $100,000 in cash. Each 30 days thereafter, Cobra is required to pay $100,000 in cash until the total payment of $5.0 million is covered.

Cobra also has a 100% working interest and approximately 80% net revenue interest in 82,000 net acres in the Williston Basin of Valley County, Montana. The leasehold is mostly federal long-term leases with small annual rentals. The leases surround a recent Starbuck East discovery and are on multiple zone shallow gas trends (primarily Judith River and Eagle) and multiple zone deeper oil trends (primarily Mission Canyon, Lodgepole and Bakken). A major gas pipeline runs near the leasehold.

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