SPECTRUM PHARMACEUTICALS, INC.

(SPPI)
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Delayed Nasdaq  -  05/19 04:00:00 pm EDT
0.7407 USD   +1.45%
05/17SPECTRUM PHARMACEUTICALS INC Change in Directors or Principal Officers (form 8-K/A)
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05/17SPECTRUM PHARMACEUTICALS INC : Change in Directors or Principal Officers, Financial Statements and Exhibits (form 8-K)
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05/17Spectrum Pharmaceuticals to Participate in H.C. Wainwright Global Investment Conference
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SHAREHOLDER ALERT: Robbins LLP Announces that Spectrum Pharmaceuticals, Inc. (SPPI) is Being Sued for Misleading Shareholders

09/07/2021 | 10:01am EDT

Shareholder rights law firm Robbins LLP announces that a class action was filed on behalf of all persons and entities that purchased or otherwise acquired Spectrum Pharmaceuticals, Inc. (NASDAQ: SPPI) securities between December 27, 2018 and August 5, 2021, for violations of the Securities Exchange Act of 1934. Spectrum is a biopharmaceutical company that develops and commercializes oncology and hematology drug products. One product the Company has under development is ROLONTIS (eflapegrastim), a novel long-lasting granulocyte colony-stimulating factor for chemotherapy-induced neutropenia.

If you suffered a loss due to Spectrum Pharmaceuticals, Inc.'s misconduct, click here.

Spectrum Pharmaceuticals, Inc. (SPPI) Materially Misrepresented the Likelihood ROLONTIS Would be Approved by the FDA

According to the complaint, Spectrum submitted a Biologics License Application ("BLA") to the U.S. Food and Drug Administration ("FDA") for ROLONTIS as a treatment chemotherapy-induced neutropenia (the "ROLONTIS BLA") in December 2018. In March 2019, Spectrum voluntarily withdrew its ROLONTIS BLA, and then resubmitted an updated ROLONTIS BLA in October 2019. During the relevant period, defendants touted the viability of ROLONTIS and the preparations the Company had made in advance of the FDA's inspection of its manufacturing facility. However, defendants made materially false and misleading statements and/or failed to disclose that the ROLONTIS manufacturing facility maintained deficient controls and/or procedures and that the deficiencies decreased the likelihood that the FDA would approve the ROLONTIS BLA in its current form. As a result, Spectrum had materially overstated the ROLONTIS BLA's approval prospects.

On August 6, 2021, Spectrum announced receipt of a Complete Response Letter ("CRL") from the FDA regarding the ROLONTIS BLA. The CRL cited deficiencies related to manufacturing and indicated that a reinspection of the Company's manufacturing facility would be necessary. On this news, Spectrum's stock price fell $0.70 per share, or over 21%, to close at $2.55 per share on August 6, 2021.

If you purchased shares of Spectrum Pharmaceuticals, Inc. (SPPI) securities between December 27, 2018 and August 5, 2021, you have until November 1, 2021, to ask the court to appoint you lead plaintiff for the class.

All representation is on a contingency fee basis. Shareholders pay no fees or expenses.

Contact us to learn more:

Aaron Dumas
(800) 350-6003
adumas@robbinsllp.com
Shareholder Information Form

Robbins LLP is a nationally recognized leader in shareholder rights law. To be notified if a class action against Spectrum Pharmaceuticals, Inc. settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today.

Attorney Advertising. Past results do not guarantee a similar outcome.


© Business Wire 2021
All news about SPECTRUM PHARMACEUTICALS, INC.
05/17SPECTRUM PHARMACEUTICALS INC Change in Directors or Principal Officers (form 8-K/A)
AQ
05/17SPECTRUM PHARMACEUTICALS INC : Change in Directors or Principal Officers, Financial Statem..
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05/17Spectrum Pharmaceuticals to Participate in H.C. Wainwright Global Investment Conference
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05/12TRANSCRIPT : Spectrum Pharmaceuticals, Inc., Q1 2022 Earnings Call, May 12, 2022
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05/12Spectrum Pharmaceuticals Reports First Quarter 2022 Financial Results and Provides Corp..
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05/11Spectrum Pharmaceuticals Names Nora Brennan CFO
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05/11Spectrum Pharmaceuticals Appoints Nora E. Brennan as Chief Financial Officer
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05/11Spectrum Pharmaceuticals, Inc. Appoints Nora E. Brennan as Chief Financial Officer
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Analyst Recommendations on SPECTRUM PHARMACEUTICALS, INC.
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Financials (USD)
Sales 2022 7,29 M - -
Net income 2022 -90,9 M - -
Net Debt 2022 - - -
P/E ratio 2022 -1,46x
Yield 2022 -
Capitalization 128 M 128 M -
Capi. / Sales 2022 17,6x
Capi. / Sales 2023 1,14x
Nbr of Employees 164
Free-Float 89,8%
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Technical analysis trends SPECTRUM PHARMACEUTICALS, INC.
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Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 5
Last Close Price 0,74 $
Average target price 5,60 $
Spread / Average Target 656%
EPS Revisions
Managers and Directors
Thomas J. Riga President, CEO, CFO & Director
William L. Ashton Chairman
Francois Lebel Chief Medical Officer & Executive Vice President
Lyndah K. Dreiling Senior Vice President-Clinical Development
Dolatrai M. Vyas Independent Non-Executive Director
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