UPDATE 1-Spectrum sees bigger loss in '09 on drug launches

Mon Mar 22, 2010 9:48am EDT

* Says 2009 net loss to rise due to drug launch expenses

* To report 2009 results on or before March 31

March 22 (Reuters) - Spectrum Pharmaceuticals Inc (SPPI.O) said its net loss for 2009 may rise significantly due to higher sales and marketing expenses, including payroll costs, incurred with the launch of two drugs -- Zevalin and Fusilev.

In a regulatory filing, the company said it would report the net loss when it has finalized its financial statements for the year, on or before March 31.

Zevalin is indicated for the treatment of patients with previously untreated follicular non-Hodgkin's lymphoma, while Fusilev, which was launched in late 2008, helps to protect healthy cells in patients after a high dose of chemotherapy for the treatment of bone cancer.

The company had posted a net loss of $15.5 million for 2008.

Shares of the company were down marginally at $5.09 Monday morning on Nasdaq. (Reporting by Esha Dey in Bangalore)

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