Document:

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                                 EXHIBIT 10.73
                    EXECUTED COMMON STOCK PURCHASE AGREEMENT

                     [PEREGRINE PHARMACEUTICALS, INC. LOGO]

                             A DELAWARE CORPORATION

                         COMMON STOCK PURCHASE AGREEMENT

                           UP TO $6,000,000 INVESTMENT

                                NOVEMBER 16, 2001

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                         COMMON STOCK PURCHASE AGREEMENT
                         -------------------------------

         This Common Stock Purchase Agreement (this "Agreement") is made and
entered into as of November 16, 2001, by and between Peregrine Pharmaceuticals,
Inc., a Delaware corporation (the "Company"), and the Investors set forth on
Schedule I hereto (each an "Investor", collectively, the "Investors").

                                    RECITALS
                                    --------

         WHEREAS, the Company has filed with the Securities and Exchange
Commission ("SEC") a Shelf Registration Statement on Form S-3, which was
declared effective by the SEC on November 13, 2001 (the "Form S-3").

         WHEREAS, pursuant to the Form S-3, the Company may offer to the public
from time to time up to 10,000,000 shares of common stock, par value $0.001 per
share (the "Common Stock"), and warrants to purchase 2,000,000 shares of Common
Stock.

         WHEREAS, the Company desires to sell and issue to the Investors a
number of shares of Common Stock (the "Shares"), based upon the per share price
set forth herein, and warrants ("Warrant") to purchase a number of shares of
Common Stock ("Warrant Shares") equal to thirty percent (30%) of the Shares, in
exchange for the Investors' payment of the sum of up to Six Million Dollars
($6,000,000).

         NOW, THEREFORE, in consideration of the covenants, agreements and
considerations herein contained, the Company and Investor agree as follows:

1.       PURCHASE AND SALE OF SHARES
         ---------------------------

         1.1 TRANSFER OF SHARES. Subject to the terms and conditions hereof, the
Company agrees to sell to the Investors, and the Investors agree to purchase
from the Company in the respective amounts set forth on Schedule I, an aggregate
number of Shares determined by dividing the Purchase Price (as defined in
Section 1.2 below) by the Per Share Price (as defined herein). For purposes of
this Section 1.1, the Per Share Price shall equal the average closing price of
the Company's common stock during the ten (10) trading days ending on the date
the S-3 was declared effective by the SEC less thirty (30) percent (as may be
adjusted for subsequent stock splits, consolidations, reverse splits and stock
dividends). On the Closing Date, the Company shall instruct its transfer agent
to send to each Investor via a nationally recognized overnight courier a stock
certificate(s), in the name of such Investor or its nominee, representing the
Shares purchased by such Investor.

         1.2 PURCHASE PRICE. As full consideration for the sale of the Shares to
Investors, the Investors shall deliver to the Company on the Closing Date by
wire transfer of immediately available funds to such account as the Company
shall designate the sum of up to Six Million Dollars ($6,000,000) (the "Purchase
Price").

                                       1
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         1.3 WARRANTS. In connection with the Investors' purchase of the Shares,
the Company shall deliver to each Investor on the Closing Date a Warrant to
purchase a number of Warrant Shares equal to 30% of the Shares purchased,
exercisable on a cash basis only for a period of five (5) years, at an exercise
price equal to the Per Share Price.

2.       CLOSING.
         --------

         2.1 TIME. Subject to terms and provisions herein, the purchase and sale
of the Shares shall take place on November 16, 2001 (the "Closing Date") at the
offices of Jeffers, Shaff & Falk, LLP located at 18881 Von Karman Avenue, Suite
1400, Irvine, California 92612, or such other location as the parties may
individually agree.

         2.2 DELIVERIES AT AND FOLLOWING THE CLOSING DATE. On the Closing Date,
the parties hereto shall deliver all share certificates, Warrants, consents,
funds, assignments and other instruments and documents provided for in this
Agreement. In addition, the Company agrees to execute and deliver all
instruments and documents and perform all other acts which may be reasonably
required or appropriate in order to further effect or perfect the sale and
transfer of the Shares and the consummation of the transactions contemplated by
this Agreement.

3.       REPRESENTATIONS AND WARRANTIES OF THE COMPANY
         ---------------------------------------------

         Except as set forth below, the Company makes no representations or
warranties of any nature or kind.

         3.1 ORGANIZATION, STANDING AND POWER. The Company is a corporation duly
organized, validly existing and in good standing under the laws of the State of
Delaware. The Company has the corporate power to own its properties and to carry
on its business as now being conducted and is duly qualified to do business and
is in good standing in each jurisdiction in which the failure to be so qualified
would have a material adverse effect on the business, assets or condition
(financial or otherwise) of the Company and its subsidiaries, taken as a whole.

         3.2 CAPITALIZATION. The authorized capital stock of the Company
consists of 150,000,000 shares of common stock, par value $0.001 per share, and
5,000,000 shares of preferred stock, par value $0.001 per share, of which, as of
October 31, 2001, there were 102,500,226 shares of common stock and nil shares
of preferred stock, issued and outstanding. As of October 31, 2001, the Company
has reserved 19,225,000 shares of common stock for issuance in connection with
outstanding warrants, options, calls, commitments, or other rights to subscribe
for or to purchase from the Company any capital stock of the Company or any
securities convertible into or exchangeable for any shares of the Company. The
Company is not a party to any voting trust agreements or understandings with
respect to the voting common stock of the Company.

3.3      AUTHORIZATION.
         -------------

              3.3.1 The Company has full legal right, power and capacity to
enter into, execute, deliver and perform this Agreement and all attendant
documents and instruments contemplated hereby.

                                       2
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              3.3.2 This Agreement has been duly executed and delivered and
constitutes the legal, valid and binding obligation of the Company and is
enforceable with respect to the Company in accordance with its terms, except as
enforcement may be limited by bankruptcy, insolvency, priority or other laws or
court decisions relating to or affecting generally the enforcement of creditors'
rights or affecting generally the availability of equitable remedies.

              3.3.3 The execution and delivery of this Agreement by the Company,
and the consummation of the transactions contemplated hereby by the Company in
accordance with the terms hereof shall not conflict with or result in a breach
of, violation of, or default under (or constitute an event that with notice,
lapse of time, or both, would constitute a breach or default under), or result
in the termination of, or accelerate the performance required by, or result in
the creation of any liens or other encumbrances upon any of the properties or
assets of the Company under any of the terms, conditions or provisions of the
Certificate of Incorporation or Bylaws, any provision of the laws of the State
of California or the State of Delaware, or any note, bond, mortgage, indenture,
deed of trust, license, lease, credit agreement or other agreement, document,
instrument or obligation to which the Company is a party or by which any of its
assets or properties are bound.

              3.3.4 Neither the execution and delivery of this Agreement by the
Company, nor the consummation of the transactions, contemplated hereunder by the
Company will violate or conflict with any judgment, order, decree, statute, rule
or regulation applicable to the Company or its assets or properties.

3.4      VALID ISSUANCE OF COMMON STOCK.
         ------------------------------

              3.4.1 The Shares and Warrants being purchased by the Investor
hereunder and the Warrant Shares issuable upon exercise of the Warrants, when
issued, sold and delivered in accordance with the terms hereof or thereof, for
the consideration expressed herein or therein, will be duly and validly issued,
fully paid and nonassessable and will be issued in compliance with all
applicable federal and state securities laws.

              3.4.2 The outstanding shares of Common Stock are all duly and
validly authorized and issued, fully paid and nonassessable, and were issued in
compliance with all applicable federal and state securities laws.

              3.4.3 The Company has full power, right and authority to transfer,
convey and sell to the Investors on the Closing Date the Shares and Warrants and
upon consummation of the transactions contemplated by this Agreement, each
Investor will have acquired good and marketable title to the Shares and Warrants
purchased by such Investor, free and clear of claims, liens, restrictions on
transfer or voting or encumbrances.

         3.5 LITIGATION. Except as referred to in the SEC Documents, as defined
below, the Form S-3, or as disclosed in Schedule 3.5, there are no claims,
suits, actions or proceedings pending or, to the knowledge of the Company,
threatened against, relating to or affecting the Company or any of its
subsidiaries, before any court, governmental department, commission, agency,
instrumentality or authority, or any arbitrator that would reasonably be
expected, either alone or in the aggregate with all such claims, actions or
proceedings, to have a material adverse effect on the Company's business or
financial condition or the transactions contemplated hereunder. Except as
referred to in the Company's SEC Documents, neither the Company nor any of its
subsidiaries is subject to any judgment, decree, injunction, rule or order of
any court, governmental department, commission, agency, instrumentality or
authority, or any arbitrator which prohibits or restricts the consummation of
the transactions contemplated hereby or would have a material adverse effect on
the Company's business or financial condition or the transactions contemplated
hereunder.

                                       3
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         3.6 SEC DOCUMENTS; THE COMPANY'S FINANCIAL STATEMENTS. The Company is a
reporting company under the Securities Exchange Act of 1934 (the "Exchange
Act"), and files annual and periodic reports (the "SEC Documents") with the
Securities and Exchange Commission (the "SEC"). As of their respective filing
dates, the SEC Documents complied in all material respects with the requirements
of the Securities Exchange Act of 1934, as amended, applicable to the Company
and to the knowledge of the Company none of the SEC Documents contained any
untrue statement of a material fact or omitted to state a material fact required
to be stated therein or necessary to make the statements made therein, in light
of the circumstances in which they were made, not misleading, except to the
extent corrected by a subsequently filed document with the SEC. The SEC
Documents contain an audited consolidated balance sheet of the Company as of the
end of the last completed fiscal year (the "Balance Sheet") and the related
audited consolidated statements of income and cash flow for the year then ended
(collectively, the "Financials"). The Financials have been prepared in
accordance with GAAP applied on a basis consistent through the periods indicated
and consistent with each other. The Financials present fairly the consolidated
financial condition and operating results and cash flows of the Company and its
subsidiaries as of the dates and during the periods indicated therein. Since the
date of the Balance Sheet and until the date of this Agreement, there has not
occurred any material adverse change in the business, assets or condition
(financial or otherwise) of the Company and its subsidiaries, taken as a whole,
which has not been reflected in the SEC Documents.

         3.7 FORM S-3. The Company has delivered to each Investor a copy of the
Form S-3. The Company represents and warrants that the Form S-3 has been
declared effective by the SEC and is not subject to any stop order. The Company
is not aware of any event, fact or circumstance which would cause the Form S-3
to contain a material misstatement.

         3.8 DISCLOSURE. Neither this Agreement, nor any of the schedules,
attachments, or certificates attached to this Agreement or delivered by the
Company on the Closing Date, contains any untrue statements of material fact or
omits a material fact necessary to make the statements contained herein or
therein not misleading. There is no fact which the Company has not disclosed to
the Investors, orally or in writing, and of which any of the Company's directors
or officers are aware, which could reasonably be anticipated to have a material
adverse effect, upon the financial condition, operating results or assets, of
the Company. Notwithstanding the foregoing, certain information provided by the
Company to the Investors contained statements that are forward-looking, which
are covered by the "safe harbor" provisions of the Private Securities Litigation
Reform Act of 1995. Such forward-looking information involves important risks
and uncertainties that could significantly affect anticipated results in the
future, and accordingly, such results may differ materially from those expressed
in any forward-looking statements made by or on behalf of the Company.

         3.7 REGULATORY COMPLIANCE. To the best of its knowledge, the Company is
not in violation of any applicable law, regulation, judgment, order or consent
decree (of any governmental or non-governmental regulatory or self-regulatory
agency or any organized exchange, including without limitation, the SEC, any
state or local securities or insurance regulatory body, or the Internal Revenue
Service), which violation is likely to have a material adverse effect on the
Company's business, financial condition, or this transaction.

                                       4
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         3.8 REGULATORY PROCEEDINGS, INVESTIGATIONS AND INQUIRIES. To the best
of its knowledge, the Company has not been the subject of any material
regulatory proceeding, examination, investigation or inquiry (known to the
Company), including any pending or threatened regulatory proceeding,
investigation or inquiry (known to the Company) (including without limitation
any by governmental or non-governmental regulatory or self-regulatory agency or
any organized exchange) relating to the Company.

4.       REPRESENTATIONS AND WARRANTIES OF EACH INVESTOR
         -----------------------------------------------

         Each Investor hereby represents and warrants to the Company the
following:

         4.1 AUTHORITY. Investor has full legal right, power and capacity to
enter into, execute, deliver and perform this Agreement and all attendant
documents and instruments contemplated hereby. This Agreement has been duly
executed and delivered and constitutes the legal, valid and binding obligation
of Investor and is enforceable with respect to Investor in accordance with its
terms, except as enforcement may be limited by bankruptcy, insolvency, priority
or other laws or court decisions relating to or affecting generally the
enforcement of creditors' rights or affecting generally the availability of
equitable remedies.

         4.2 NO VIOLATION OF AGREEMENTS. Neither the execution and delivery of
this Agreement nor the consummation of the transactions contemplated hereunder
by Investor will violate or conflict with any judgment, order, decree, statute,
rule or regulation applicable to Investor or its assets or properties.

         4.7 DISCLOSURE OF INFORMATION. Subject in part to the truth and
accuracy of the representations and warranties of the Company, the Investor
believes that it has received all the information that it considers necessary or
appropriate for deciding whether to purchase the Shares and Warrants. The
Investor further represents that it has had an opportunity to review the SEC
Documents and the Form S-3, and had sufficient opportunity to ask questions and
receive answers from the Company and its directors and officers regarding the
terms and conditions of the offering of the Shares and Warrants and the business
and operations of the Company. The foregoing, however, does not limit or modify
the representations and warranties of the Company in Section 3 of this Agreement
or the right of the Investor to rely thereon.

5.       CONDITIONS PRECEDENT TO OBLIGATIONS OF THE COMPANY
         --------------------------------------------------

         The obligations of the Company to consummate the transactions
contemplated by this Agreement shall be subject to the satisfaction of each of
the conditions set forth below, any or all of which may be waived by the Company
in whole or in part without prior notice; provided, however, that no such waiver
of a condition shall constitute a waiver by the Company of any other condition
or of any of the Company's rights or remedies, at law or in equity, if the
Investors shall be in default or breach of any of its representations,
warranties or agreements under this Agreement:

                                       5
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         5.1 PURCHASE PRICE. Each Investor shall deliver on the Closing Date
that portion of the Purchase Price to be paid by such Investor as provided in
Section 1.2.

         5.2 ACCURACY OF REPRESENTATIONS AND WARRANTIES. The representations and
warranties of each Investor contained in this Agreement shall be accurate and
complete on and as of the Closing Date with the same effect as though such
representations and warranties had been made on or as of such date.

         5.3 PERFORMANCE OF AGREEMENTS. Each and all of the conditions precedent
and agreements of the Investors subject to satisfaction on or before the Closing
Date pursuant to the terms of this Agreement shall have been performed or
satisfied.

6.       CONDITIONS PRECEDENT TO OBLIGATIONS OF INVESTOR
         -----------------------------------------------

         The obligations of each Investor to consummate the transactions
contemplated by this Agreement shall be subject to the satisfaction of each of
the conditions set forth below, any or all of which may be waived by each
Investor in whole or in part without prior notice; provided, however, that no
such waiver of a condition shall constitute a waiver by such Investor of any
other condition or of any of such Investor's rights or remedies, at law or in
equity, if the Company shall be in default or breach of any of its
representations, warranties or agreements under this Agreement:

         6.1 ACCURACY OF REPRESENTATIONS AND WARRANTIES. The representations and
warranties of the Company contained in this Agreement shall be accurate and
complete on and as of the Closing Date with the same effect as though such
representations and warranties had been made on or as of such date and the
Company shall have delivered to Investor a certificate to that effect signed by
the Company, and dated as of the Closing Date.

         6.2 PERFORMANCE OF AGREEMENTS. Each and all of the conditions precedent
and agreements of the Company subject to satisfaction on or before the Closing
Date pursuant to the terms of this Agreement shall have been performed or
satisfied and the Company shall have delivered to Investor a certificate to that
effect signed by the Company, and dated as of the Closing Date.

         6.3 NO ADVERSE EVENTS. Between the date hereof and the Closing Date,
neither the business, assets or condition, financial or otherwise, of the
Company taken as a whole shall have been materially adversely affected in any
manner.

                                       6
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6.4      DELIVERY OF DOCUMENTS.
         ---------------------

              6.4.1 The Company shall have effected the transfers and deliveries
set forth in Section 1.1 and 1.3;

              6.4.2 The Company shall have delivered to the Investor a legal
opinion, in the form of Schedule 6.4 attached hereto.

7.       MISCELLANEOUS
         -------------

         7.1 EXPENSES, COMMISSIONS AND TAXES. Each party shall bear and pay its
own expenses, including legal, accounting and other professional fees, and taxes
incurred in connection with the transactions referred to in this Agreement. The
party responsible under applicable law shall bear and pay in their entirety all
other taxes and registration and transfer fees, if any, payable by reason of the
sale and conveyance of the Shares and Warrants.

         7.2 ENTIRE AGREEMENT; MODIFICATIONS; WAIVER. This Agreement, together
with the related agreements or certificates referenced herein, constitutes the
final, exclusive and complete understanding of the parties with respect to the
subject matter hereof and supersedes any and all prior agreements,
understandings and discussions with respect thereto. No variation or
modification of this Agreement and no waiver of any provision or condition
hereof, or granting of any consent contemplated hereby, shall be valid unless in
writing and signed by the party against whom enforcement of any such variation,
modification, waiver or consent is sought.

         7.3 FURTHER ASSURANCES. The parties hereto shall use their best
efforts, and shall cooperate with one another, to secure all necessary consents,
approvals, authorizations, exemptions and waivers from third parties as shall be
required in order to consummate the transactions contemplated hereby, and shall
otherwise use their best efforts to cause such transactions to be consummated in
accordance with the terms and conditions hereof. At any time or from time to
time after the Closing Date, each party hereto, shall execute and deliver any
further instruments or documents and take all such further action as such
requesting party may reasonably request in order to consummate and document the
transactions contemplated hereby.

         7.4 CAPTIONS. The captions in this Agreement are for convenience only
and shall not be considered a part of or affect the constructing or
interpretation of any provision of this Agreement.

         7.5 SECTION REFERENCES. Unless otherwise noted, all section references
herein are to sections of this Agreement.

         7.6 COUNTERPARTS. This Agreement may be executed in any number of
counterparts, including electronically transmitted counterparts, each of which
when so executed shall constitute an original copy hereof, but all of which
together shall constitute one agreement.

         7.7 SUCCESSORS AND ASSIGNS. Neither party shall have the right to
assign this Agreement.

                                       7
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         7.8 PARTIES IN INTEREST. Nothing in this Agreement, whether express or
implied, is intended to confer any rights or remedies under or by reason of this
Agreement on any persons other than the parties to it and their respective
successors and assigns, nor is anything in this Agreement intended to relieve or
discharge the obligation or liability of any third persons to any party to this
Agreement, nor shall any provision give any third persons any right of
subrogation or action over against any party to this Agreement.

         7.9 NOTICES. All notices, requests, demands and other communications
hereunder ("Notices") shall be in writing and shall be deemed to have been duly
given if delivered by hand or by registered or certified mail, postage prepaid,
return receipt requested, but only upon receipt of such return receipt, as
follows:

         If to Investors:        As noted in Exhibit I

         If to the Company:      Peregrine Pharmaceutical, Inc.
                                 14272 Franklin Avenue, Suite 100
                                 Tustin, California 92780
                                 Attn.:  President

or to such other address as any party may have furnished to the others in
writing in accordance herewith, except that notices of change of address shall
only be effective upon receipt. All Notices shall be deemed received on the date
of delivery or, if mailed, on the date appearing on the return receipt therefor.

         7.10 LAW GOVERNING. This Agreement shall be governed by, and construed
and enforced in accordance with the laws of the State of California, without
regard to its choice-of-laws or conflicts-of-law rules.

                                       8
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         IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
duly executed, all as of date first above written.

                                      "The Company"
                                      Peregrine Pharmaceuticals, Inc.,
                                      a Delaware corporation

                                      By: /S/ EDWARD J. LEGERE
                                          ---------------------------------
                                      Name:   EDWARD J. LEGERE
                                             ------------------------------
                                      Title:  PRESIDENT
                                             ------------------------------

                                       9
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                                   SCHEDULE I
                                 "The Investors"

      Print or Type:

      Name of Purchaser (Institution)    ZLP Master Fund, LTD

      Tax ID No.:                        98-0212785

      Address:                           Goldman Sachs (Cayman) Trust, Limited
                                         P.O. Box 896 Harbour Centre 2nd Fl.
                                         North Church Street
                                         George Town, Grand Cayman
                                         Cayman Islands, B.W.I.
                                         C/o Darren Martian

      Address to deliver Shares          45 Broadway - 28th Floor
      (IF DIFFERENT):                    New York, NY  10006

      Name in which the Shares should be
      registered (if different):          ---------------------------

      Signature by:                       /s/ Stuart J. Zimmer

      Name of Individual representing
      Purchaser:                          Stuart J. Zimmer

      NUMBER OF SHARES TO BE PURCHASED:   2,750,000

      PER SHARE PURCHASE PRICE:           $1.00

      AGGREGATE PURCHASE PRICE:           $2,750,000

                                       10
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                                   SCHEDULE I
                                 "The Investors"

      Print or Type:

      Name of Purchaser (Institution)     ZLP Master Technology Fund, LTD

      Tax ID No.:                         98-0336731

      Address:                            Goldman Sachs (Cayman) Trust, Limited
                                          P.O. Box 896 Harbour Centre 2nd Fl.
                                          North Church Street
                                          George Town, Grand Cayman
                                          Cayman Islands, B.W.I.
                                          C/o Darren Martian

      Address to deliver Shares           45 Broadway - 28th Floor
      (IF DIFFERENT):                     New York, NY  10006

      Name in which the Shares should be
      registered (if different):          -----------------------------

      Signature by:                       /s/ Stuart J. Zimmer

      Name of Individual representing
      Purchaser:                          Stuart J. Zimmer

      NUMBER OF SHARES TO BE PURCHASED:   1,250,000

      PER SHARE PURCHASE PRICE:           $1.00

      AGGREGATE PURCHASE PRICE:           $1,250,000

                                       11
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                                   SCHEDULE I
                                 "The Investors"

      Print or Type:

      Name of Purchaser (Institution)     Eric S. Swartz

      Tax ID No.:
                                          -------------------------------

      Address:                            300 Colonial Center Pkwy
                                          Suite 300
                                          Roswell, GA  30076

      Address to deliver Shares
      (IF DIFFERENT):                     -------------------------------

      Name in which the Shares should be
      registered (if different):          -------------------------------

      Signature by:                       /s/ Eric S. Swartz

      Name of Individual representing
      Purchaser:                          Eric S. Swartz

      NUMBER OF SHARES TO BE PURCHASED:   500,000

      PER SHARE PURCHASE PRICE:           $1.00

      AGGREGATE PURCHASE PRICE:           $500,000

                           12
<PAGE>

                                   SCHEDULE I
                                 "The Investors"

      Print or Type:

      Name of Purchaser (Institution)       Michael C. Kendrick

      Tax ID No.:
                                            ------------------------------

      Address:                              300 Colonial Center Pkwy
                                            Suite 300
                                            Roswell, GA  30076

      Address to deliver Shares
      (IF DIFFERENT):                       ------------------------------

      Name in which the Shares should be    Michael Kendrick
      registered (if different):

      Signature by:                         /s/ Michael Kendrick

      Name of Individual representing       Michael Kendrick
      Purchaser:

      NUMBER OF SHARES TO BE PURCHASED:     500,000

      PER SHARE PURCHASE PRICE:             $1.00

      AGGREGATE PURCHASE PRICE:             $500,000

                                       13
<PAGE>

                                   SCHEDULE I
                                 "The Investors"

      Print or Type:

      Name of Purchaser (Institution)       Vertical Ventures LLC

      Tax ID No.:                           94-3360273

      Address:                              900 Third Avenue, 26th Floor
                                            NY, NY  10022

      Address to deliver Shares
      (IF DIFFERENT):                       -----------------------------

      Name in which the Shares should be
      registered (if different):            -----------------------------

      Signature by:                         /s/ Joshua Silverman

      Name of Individual representing
      Purchaser:                            Joshua Silverman

      NUMBER OF SHARES TO BE PURCHASED:     500,000

      PER SHARE PURCHASE PRICE:             $1.00

      AGGREGATE PURCHASE PRICE:             $500,000

                                       14
<PAGE>

                                   SCHEDULE I
                                 "The Investors"

      Print or Type:

      Name of Purchaser (Institution)       Triton West Group, Inc.
                                            A Cayman Islands Corporation

      Tax ID No.:                           N.A.

      Address:                              4th Floor, Harbor Center
                                            P.O. Box 61GT
                                            Georgetown, Grand Cayman
                                            Cayman Islands

      Address to deliver Shares             Trinity Capital Advisors, Inc.
      (IF DIFFERENT):                       601 Montgomery Street, Suite 1060
                                            San Francisco, CA  94111

      Name in which the Shares should be    Triton West Group
      registered (if different):

      Signature by:                         /s/ Ian Goodall

      Name of Individual representing
      Purchaser:                            Ian Goodall

      NUMBER OF SHARES TO BE PURCHASED:     250,000

      PER SHARE PURCHASE PRICE:             $1.00

      AGGREGATE PURCHASE PRICE:             $250,000

                                       15

<PAGE>

                                  SCHEDULE 3.5

                                   LITIGATION

None<PAGE>

                                  EXHIBIT 10.74
              FORM OF WARRANT UNDER COMMON STOCK PURCHASE AGREEMENT

AN INVESTMENT IN THESE SECURITIES INVOLVES A HIGH DEGREE OF RISK. INVESTORS
SHOULD REVIEW THE "RISK FACTORS" CONTAINED IN THE COMPANY'S FORM S-3 FILED WITH
THE SECURITIES AND EXCHANGE COMMISSION WHICH REGISTERS THE ISSUANCE OF THIS
WARRANT.

WARRANT TO PURCHASE
________ SHARES

                                                             WARRANT NO.: ______

                        WARRANT TO PURCHASE COMMON STOCK
                                       OF
                         PEREGRINE PHARMACEUTICALS, INC.

         THIS CERTIFIES that ___________________________. or any subsequent
holder hereof ("Holder"), has the right to purchase from Peregrine
Pharmaceuticals, Inc., a Delaware corporation (the "Company"), up to ________
fully paid and nonassessable shares of the Company's common stock, $.001 par
value per share ("Common Stock"), subject to adjustment as provided herein, at a
price equal to the Exercise Price as defined in Section 3 below, at any time
beginning on the Date of Issuance (defined below) and ending at 5:00 p.m., New
York, New York time, on _______________ (the "Exercise Period").

         Holder agrees with the Company that this Warrant to Purchase Common
Stock of Peregrine Pharmaceuticals, Inc. (this "Warrant") is issued and all
rights hereunder shall be held subject to all of the conditions, limitations and
provisions set forth herein.

         1.       DATE OF ISSUANCE.
                  -----------------

         This Warrant shall be deemed to be issued on ______________ ("Date of
Issuance").

         2.       EXERCISE.
                  --------

         (a) MANNER OF EXERCISE. During the Exercise Period, this Warrant may be
exercised as to all or any lesser number of full shares of Common Stock covered
hereby upon surrender of this Warrant, with the Exercise Form attached hereto as
EXHIBIT A (the "Exercise Form") duly completed and executed, together with the
full Exercise Price (as defined below) for each share of Common Stock as to
which this Warrant is exercised, at the office of the Company, at the address,
telephone number and fax number set forth on the signature page hereof, or at
such other office or agency as the Company may designate in writing, by
overnight mail, with an advance copy of the Exercise Form sent to the Company
and its Transfer Agent by facsimile (such surrender and payment of the Exercise
Price hereinafter called the "Exercise of this Warrant").

<PAGE>

         (b) DATE OF EXERCISE. The "Date of Exercise" of the Warrant shall be
defined as the date the exercise price of the warrant and the Exercise Form have
both been received by the Company.

         (c) CANCELLATION OF WARRANT. This Warrant shall be canceled upon the
Exercise of this Warrant, and, as soon as practical after the Date of Exercise,
Holder shall be entitled to receive Common Stock for the number of shares
purchased upon such Exercise of this Warrant, and if this Warrant is not
exercised in full, Holder shall be entitled to receive a new Warrant (containing
terms identical to this Warrant) representing any unexercised portion of this
Warrant in addition to such Common Stock.

         (d) HOLDER OF RECORD. Each person in whose name any Warrant for shares
of Common Stock is issued shall, for all purposes, be deemed to be the Holder of
record of such shares on the Date of Exercise of this Warrant, irrespective of
the date of delivery of the Common Stock purchased upon the Exercise of this
Warrant. Nothing in this Warrant shall be construed as conferring upon Holder
any rights as a stockholder of the Company.

         3.       PAYMENT OF WARRANT EXERCISE PRICE.
                  ---------------------------------

         The Exercise Price shall equal $____ per share ("Exercise Price").

         Payment of the Exercise Price may be made solely in cash, either by
bank or cashiers check or by wire transfer.

         4.       TRANSFER AND REGISTRATION.
                  -------------------------

         (a) TRANSFER RIGHTS. Subject to the provisions of Section 8 of this
Warrant, this Warrant may be transferred on the books of the Company, in whole
or in part, in person or by attorney, upon surrender of this Warrant properly
completed and endorsed. This Warrant shall be canceled upon such surrender and,
as soon as practicable thereafter, the person to whom such transfer is made
shall be entitled to receive a new Warrant or Warrants as to the portion of this
Warrant transferred, and Holder shall be entitled to receive a new Warrant as to
the portion hereof retained.

         5.       ANTI-DILUTION ADJUSTMENTS.
                  -------------------------

         (a) STOCK DIVIDEND. If the Company shall at any time declare a dividend
payable in shares of Common Stock, then Holder, upon Exercise of this Warrant
after the record date for the determination of holders of Common Stock entitled
to receive such dividend, shall be entitled to receive upon Exercise of this
Warrant, in addition to the number of shares of Common Stock as to which this
Warrant is exercised, such additional shares of Common Stock as such Holder
would have received had this Warrant been exercised immediately prior to such
record date and the Exercise Price will be proportionately adjusted.

                                       2
<PAGE>

         (b) RECAPITALIZATION OR RECLASSIFICATION. If the Company shall at any
time effect a recapitalization, reclassification or other similar transaction of
such character that the shares of Common Stock shall be changed into or become
exchangeable for a larger or smaller number of shares, then upon the effective
date thereof, the number of shares of Common Stock which Holder shall be
entitled to purchase upon Exercise of this Warrant shall be increased or
decreased, as the case may be, in direct proportion to the increase or decrease
in the number of shares of Common Stock by reason of such recapitalization,
reclassification or similar transaction, and the Exercise Price shall be, in the
case of an increase in the number of shares, proportionally decreased and, in
the case of decrease in the number of shares, proportionally increased. The
Company shall give Holder the same notice it provides to holders of Common Stock
of any transaction described in this Section 5(b).

         (c) DISTRIBUTIONS. If the Company shall at any time distribute for no
consideration to holders of Common Stock cash, evidences of indebtedness or
other securities or assets (other than cash dividends or distributions payable
out of earned surplus or net profits for the current or preceding year) then, in
any such case, Holder shall be entitled to receive, upon Exercise of this
Warrant, with respect to each share of Common Stock issuable upon such exercise,
the amount of cash or evidences of indebtedness or other securities or assets
which Holder would have been entitled to receive with respect to each such share
of Common Stock as a result of the happening of such event had this Warrant been
exercised immediately prior to the record date or other date fixing shareholders
to be affected by such event (the "Determination Date") or, in lieu thereof, if
the Board of Directors of the Company should so determine at the time of such
distribution, a reduced Exercise Price determined by multiplying the Exercise
Price on the Determination Date by a fraction, the numerator of which is the
result of such Exercise Price reduced by the value of such distribution
applicable to one share of Common Stock (such value to be determined by the
Board of Directors of the Company in its discretion) and the denominator of
which is such Exercise Price.

         (d) NOTICE OF CONSOLIDATION OR MERGER. In the event of a merger,
consolidation, exchange of shares, recapitalization, reorganization, or other
similar event, as a result of which shares of Common Stock shall be changed into
the same or a different number of shares of the same or another class or classes
of stock or securities or other assets of the Company or another entity or there
is a sale of all or substantially all the Company's assets (a "Corporate
Change"), then this Warrant shall be exercisable into such class and type of
securities or other assets as Holder would have received had Holder exercised
this Warrant immediately prior to such Corporate Change; provided, however, that
Company may not affect any Corporate Change unless it first shall have given
thirty (30) days notice to Holder hereof of any Corporate Change.

         (e) EXERCISE PRICE ADJUSTED. As used in this Warrant, the term
"Exercise Price" shall mean the purchase price per share specified in Section 3
of this Warrant, until the occurrence of an event stated in subsection (a), (b)
or (c) of this Section 5, and thereafter shall mean said price as adjusted from
time to time in accordance with the provisions of said subsection. No such
adjustment under this Section 5 shall be made unless such adjustment would
change the Exercise Price at the time by $.01 or more; provided, however, that
all adjustments not so made shall be deferred and made when the aggregate
thereof would change the Exercise Price at the time by $.01 or more. No
adjustment made pursuant to any provision of this Section 5 shall have the net
effect of increasing the Exercise Price. The number of shares of Common Stock
subject hereto shall increase proportionately with each decrease in the Exercise
Price.

                                       3
<PAGE>

         (f) ADJUSTMENTS: ADDITIONAL SHARES, SECURITIES OR ASSETS. In the event
that at any time, as a result of an adjustment made pursuant to this Section 5,
Holder shall, upon Exercise of this Warrant, become entitled to receive shares
and/or other securities or assets (other than Common Stock) then, wherever
appropriate, all references herein to shares of Common Stock shall be deemed to
refer to and include such shares and/or other securities or assets; and
thereafter the number of such shares and/or other securities or assets shall be
subject to adjustment from time to time in a manner and upon terms as nearly
equivalent as practicable to the provisions of this Section 5.

         6.       FRACTIONAL INTERESTS.
                  --------------------

                  No fractional shares or scrip representing fractional shares
shall be issuable upon the Exercise of this Warrant, but on Exercise of this
Warrant, Holder may purchase only a whole number of shares of Common Stock. If,
on Exercise of this Warrant, Holder would be entitled to a fractional share of
Common Stock or a right to acquire a fractional share of Common Stock, such
fractional share shall be disregarded and the number of shares of Common Stock
issuable upon exercise shall be rounded to the closest whole number of shares.

         7.       RESERVATION OF SHARES.
                  ---------------------

                  The Company shall at all times reserve for issuance such
number of authorized and unissued shares of Common Stock (or other securities
substituted therefor as herein above provided) as shall be sufficient for the
Exercise of this Warrant and payment of the Exercise Price. The Company
covenants and agrees that upon the Exercise of this Warrant, all shares of
Common Stock issuable upon such exercise shall be duly and validly issued, fully
paid, nonassessable and not subject to preemptive rights, rights of first
refusal or similar rights of any person or entity.

         8. TRANSFER. Holder may sell, transfer, assign, pledge or otherwise
dispose of this Warrant, in whole or in part. Holder shall deliver a written
notice to Company, substantially in the form of the Assignment attached hereto
as EXHIBIT B, indicating the person or persons to whom the Warrant shall be
assigned and the respective number of warrants to be assigned to each assignee.
The Company shall effect the assignment within ten (10) days, and shall deliver
to the assignee(s) designated by Holder a Warrant or Warrants of like tenor and
terms for the appropriate number of shares.

         9.       BENEFITS OF THIS WARRANT.
                  ------------------------

                  Nothing in this Warrant shall be construed to confer upon any
person other than the Company and Holder any legal or equitable right, remedy or
claim under this Warrant and this Warrant shall be for the sole and exclusive
benefit of the Company and Holder.

                                       4
<PAGE>

         10.      APPLICABLE LAW.
                  --------------

                  This Warrant is issued under and shall for all purposes be
governed by and construed in accordance with the laws of the state of Delaware,
without giving effect to conflict of law provisions thereof.

         11.      LOSS OF WARRANT.
                  ---------------

                  Upon receipt by the Company of evidence of the loss, theft,
destruction or mutilation of this Warrant, and (in the case of loss, theft or
destruction) of indemnity or security reasonably satisfactory to the Company,
and upon surrender and cancellation of this Warrant, if mutilated, the Company
shall execute and deliver a new Warrant of like tenor and date.

         12.      NOTICE OR DEMANDS.
                  -----------------

                  Notices or demands pursuant to this Warrant to be given or
made by Holder to or on the Company shall be sufficiently given or made if sent
by certified or registered mail, return receipt requested, postage prepaid, and
addressed, until another address is designated in writing by the Company, to the
address, telephone number and facsimile number set forth on the signature page
hereof. Notices or demands pursuant to this Warrant to be given or made by the
Company to or on Holder shall be sufficiently given or made if sent by certified
or registered mail, return receipt requested, postage prepaid, and addressed, to
the address of Holder set forth in the Company's records, until another address
is designated in writing by Holder.

         IN WITNESS WHEREOF, the undersigned has executed this Warrant as of the
16 day of November, 2001.

                                      PEREGRINE PHARMACEUTICALS, INC.

                                      By:_____________________________

                                      Name:__________________________

                                      Title:___________________________

                                      14272 Franklin Avenue, Suite 100
                                      Tustin, CA  92780-7017
                                      Phone: (714) 838-6000
                                      Fax: (714) 838-9433

                                       5
<PAGE>

                                    EXHIBIT A

                            EXERCISE FORM FOR WARRANT

                                        TO: PEREGRINE PHARMACEUTICALS, INC.

         The undersigned hereby irrevocably exercises the right to purchase
____________ of the shares of Common Stock (the "Common Stock") of PEREGRINE
PHARMACEUTICALS, INC., a Delaware corporation (the "Company"), evidenced by the
attached warrant (the "Warrant"), and herewith makes payment of the exercise
price with respect to such shares in full, all in accordance with the conditions
and provisions of said Warrant.

Dated:
       ----------------------

------------------------------------------------------------------------
                                    Signature

-----------------------------------------------------------------------
                                   Print Name

------------------------------------------------------------------------
                                     Address

-----------------------------------------------------------------------

NOTICE

The signature to the foregoing Exercise Form must correspond to the name as
written upon the face of the attached Warrant in every particular, without
alteration or enlargement or any change whatsoever.
------------------------------------------------------------------------

                                       6
<PAGE>

                                    EXHIBIT B

                                   ASSIGNMENT

                    (To be executed by the registered holder
                        desiring to transfer the Warrant)

FOR VALUE RECEIVED, the undersigned holder of the attached warrant (the
"Warrant") hereby sells, assigns and transfers unto the person or persons below
named the right to purchase _______ shares of the Common Stock of PEREGRINE
PHARMACEUTICALS, INC., evidenced by the attached Warrant and does hereby
irrevocably constitute and appoint _______________________ attorney to transfer
the said Warrant on the books of the Company, with full power of substitution in
the premises.

Dated:
       ----------------                           ------------------------------
                                                  Signature

Fill in for new registration of Warrant:

-----------------------------------
                  Name

-----------------------------------
                  Address

-----------------------------------
Please print name and address of assignee
(including zip code number)

-----------------------------------------------------------------------

NOTICE

The signature to the foregoing Assignment must correspond to the name as written
upon the face of the attached Warrant in every particular, without alteration or
enlargement or any change whatsoever.
------------------------------------------------------------------------

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