announcement, page-48

re: a query Hoped that someone with more knowledge of the company would 've tried to answer your query. I can only guess as to why Peregrine interests are selling now.
They anticipate some bad news? (seems unlikely given the stream of optimistic news recently).
They need the cash for another investment?
Clearing the decks for the new Board prior to the AGM this week?
I'm not too worried about this substantial holder selling down and the fact that the sp has held up well is a positive sign. It's not as if they are swamping the market. Liquidity and new buyers appear to be adequate.
Another Melbourne biotech provides an interesting comparison. When IDT was at a similar stage in its development, a major shareholder (FAI) decided to unload. Because IDT's shares then were so tightly held, this forced the price down from over $1 to about 25 cents.
At this point,another investment group, led by Geoff Lord, bought a significant holding and soon we had a share split and bonus issues. IDT became a 10 bagger.
( I'm not suggesting PBI needs a share split because I believe it already has more shares on issue than IDT). PBI has a good story to tell so let's hope that once the Peregrine holdings are reallocated, PBI will be up and away like IDT.