With the recent promotion of the Top Amigo (See below), this may provide a pivot point for long-suffering PTSC investors. IMO, it is highly likely PTSC's Anointed One, has been devoting more time to Peregrine activities than PTSC and has been more successful in that position than PTSC, ultimately resulting in his recent promotion at Peregrine.

Assuming the higher posiiton entails more important responsibilities and more critical long term financial planning, a logical case could be made to lessen his role and/or leave PTSC relatively soon.

If not, one of the FIRST questions to ask at the upcoming PTSC SHM, in my mind, would be "How are You (Carlton) able to balance your responsbilities at Pergrine & PTSC at the same time, without PTSC shareholders feeling short-changed that You are not devoting >75% of your time to PTSC, especially at such a critical moment in PTSC's current history? To date your ability to monetize PTSC assets and your stewardship of the company, in general, has been dismal as evidenced in the year-over-year financial reporting." Virt

Peregrine Appoints Chairman of the Board and Announces Results From Annual Meeting of Stockholders

TUSTIN, CA, Oct 21, 2010 (MARKETWIRE via COMTEX News Network) -- Peregrine Pharmaceuticals, Inc. (NASDAQ: PPHM), a clinical-stage biopharmaceutical company, today announced the appointment of Carlton M. Johnson as chairman of the board of directors. Mr. Johnson has served as a director of Peregrine since 1999 and is also the chair of the audit committee.

"Carl is committed to driving Peregrine's future success in developing our targeted antibodies, and we are pleased to have him assume the added responsibilities as our chairman," said Steven W. King, president and chief executive officer of Peregrine. "A highly involved member of our board, Carl works closely and effectively with our management team while bringing independent perspective for our business decisions."

In addition, Peregrine announced results from its Annual Meeting of Stockholders. Shareholders elected four directors, including Carlton M. Johnson, Steven W. King, David H. Pohl, and Eric S. Swartz.