Bandera Partners AUM, Performance, Holdings

4. Peregrine Pharmaceuticals (NASDAQ:PPHM)

Peregrine Pharmaceuticals (NASDAQ:PPHM) is the only new position in Bandera Partners’ equity portfolio as of the end of June. The fund disclosed an $864,000 position containing 203,000 shares. Since the beginning of 2017, the share price of Peregrine, a microcap biopharmaceutical company engaged in cancer treatment, has surged by over 50%. Earlier this month, Peregrine Pharmaceuticals (NASDAQ:PPHM) announced plans to downsize its operations by firing 20% of its workforce. The company expects the move to save between $3.7 and $4.3 million in 2018 and over $7 million in the following years. Two other large shareholders of Peregrine Pharmaceuticals (NASDAQ:PPHM) are Prasad Phatak and Chris Koranda’s Tappan Street Partners, which increased its stake by 82% to 11.59 million shares between April and June, and Renaissance Technologies, which holds 3.37 million shares.

Disclosure: none