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SPECTRUM PHARMACEUTICALS, INC.

(SPPI)
  Report
Delayed Nasdaq  -  04:00:00 2023-05-26 pm EDT
1.110 USD   +1.83%
05/17Spectrum Pharmaceuticals Regains Nasdaq Compliance
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05/17Spectrum Pharmaceuticals Regains Compliance with Nasdaq Minimum Bid Price Requirement
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05/15Jefferies Downgrades Spectrum Pharmaceuticals to Hold From Buy, Cuts Price Target to $1.50 From $3.50
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Spectrum Pharmaceuticals : Announces Presentation of Poziotinib in Combination with KRASG12C Inhibitors at the 2021 AACR-NCI-EORTC Conference

10/07/2021 | 09:03am EDT

Spectrum Pharmaceuticals (NasdaqGS: SPPI), a biopharmaceutical company focused on novel and targeted oncology therapies, today announced the presentation of preclinical data demonstrating the synergistic impact of poziotinib when combined with KRAS inhibitors in KRASG12C mutant specific cell lines. Jacqulyne Robichaux, Ph.D., Assistant Professor, University of Texas, MD Anderson Cancer Center is presenting a poster titled “Pan-ErbB inhibition enhances activity of KRASG12C inhibitors in preclinical models of KRASG12C mutant cancers” at the Virtual International Conference on Molecular Targets and Cancer Therapeutics being held October 7-10. The conference is hosted by the American Association for Cancer Research (AACR), the National Cancer Institute (NCI), and the European Organization for Research and Treatment of Cancer (EORTC).

The preclinical data demonstrated that inhibition of EGFR, HER2, HER3, and HER4 signaling by the pan-ErbB inhibitor poziotinib was synergistic when combined with KRASG12C inhibitors. These results highlight the importance of HER3 and HER4 signaling, in addition to EGFR and HER2, after KRASG12C inhibition.

“We are encouraged by these promising data developed by Dr. John Heymach and the research team at MD Anderson,” said Francois Lebel, M.D., Chief Medical Officer of Spectrum Pharmaceuticals. “The in vitro findings presented by Dr. Robichaux illustrate well the importance of pan-HER inhibition blocking the over expression of HER receptors induced by KRAS inhibitors. Poziotinib is a potent clinical stage pan-HER inhibitor and may be optimally suited for this rational combination. These exciting findings warrant further evaluation in the clinic given the large number of patients with NSCLC and other solid tumors with KRASG12C mutations who could possibly benefit from such a combination.”

The poster presentation will be available for viewing by registered participants during the conference via the meeting website beginning at 9 a.m. ET on October 7, 2021. It will also be available on the Spectrum Pharmaceuticals website at: https://investor.sppirx.com/index.php/events-and-presentations.

About Spectrum Pharmaceuticals, Inc.

Spectrum Pharmaceuticals is a biopharmaceutical company focused on acquiring, developing, and commercializing novel and targeted oncology therapies. Spectrum has a strong track record of successfully executing across the biopharmaceutical business model, from in-licensing and acquiring differentiated drugs, clinically developing novel assets, successfully gaining regulatory approvals and commercializing in a competitive healthcare marketplace. Spectrum has a late-stage pipeline with novel assets that serve areas of unmet need. This pipeline has the potential to transform the company in the near future. For additional information on Spectrum Pharmaceuticals please visit www.sppirx.com.

Forward-looking statement — This press release may contain forward-looking statements regarding future events and the future performance of Spectrum Pharmaceuticals that involve risks and uncertainties that could cause actual results to differ materially. These statements are based on management's current beliefs and expectations. These statements include, but are not limited to, statements that relate to Spectrum’s business and its future, including certain company milestones, the timing and results of FDA decisions, and any statements that relate to the intent, belief, plans or expectations of Spectrum or its management, or that are not a statement of historical fact. Risks that could cause actual results to differ include, but are not limited to, the possibility that success in preclinical studies, might not translate into success in clinical trials, the possibility that the combination synergies observed in preclinical studies may yield different results when tested in clinical studies, the possibility that poziotinib’s potency in combination with KRAS inhibitors may cause unforeseen issues when tested in a clinical setting, and other unforeseen events during clinical trials which could cause delays or other adverse consequences; other uncertainties inherent in new product development; the possibility that Spectrum’s new and existing drug candidates, including poziotinib, may not ultimately prove to be safe or effective; the possibility that our existing and new drug candidates, if approved, may not be more effective, safer or more cost efficient than competing drugs; the possibility that our efforts to acquire or in-license and develop additional drug candidates may fail; our dependence on third parties for clinical trials, manufacturing, distribution and quality control; and other risks that are described in further detail in the company's reports filed with the Securities and Exchange Commission (SEC). The company does not plan to update any such forward-looking statements and expressly disclaims any duty to update the information contained in this press release except as required by law. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Spectrum in general, see the risk disclosures in the Annual Report on Form 10-K of Spectrum for the year ended December 31, 2020, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Spectrum.

SPECTRUM PHARMACEUTICALS, INC.® is a registered trademark of Spectrum Pharmaceuticals, Inc and its affiliate. REDEFINING CANCER CARE™ and the Spectrum Pharmaceuticals logos are trademarks owned by Spectrum Pharmaceuticals, Inc. Any other trademarks are the property of their respective owners.

© 2021 Spectrum Pharmaceuticals, Inc. All Rights Reserved


ę Business Wire 2021
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Analyst Recommendations on SPECTRUM PHARMACEUTICALS, INC.
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Financials (USD)
Sales 2023 73,4 M - -
Net income 2023 -17,7 M - -
Net Debt 2023 - - -
P/E ratio 2023 -23,8x
Yield 2023 -
Capitalization 226 M 226 M -
Capi. / Sales 2023 3,08x
Capi. / Sales 2024 1,79x
Nbr of Employees 86
Free-Float 89,7%
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Mean consensus HOLD
Number of Analysts 5
Last Close Price 1,11 $
Average target price 1,26 $
Spread / Average Target 13,5%
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Managers and Directors
Thomas J. Riga President, Chief Executive Officer & Director
Nora E. Brennan Chief Financial Officer & Executive Vice President
William L. Ashton Chairman
Jeffrey L. Vacirca Independent Director
Seth H. Z. Fischer Independent Director
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