UPDATE 1-Spectrum Pharma says cancer drug shows promise; shrs up

Mon Dec 6, 2010 5:51pm EST

* Mid-stage trial sees 84 pct response rate

* Late-stage study shows 35 months progression-free survival

* Shares up 10 pct

Dec 6 (Reuters) - Spectrum Pharmaceuticals Inc (SPPI.O) said a mid-stage trial of its injection for non-Hodgkin's lymphoma (NHL), a type of cancer, as a first-line therapy showed positive results, sending its shares up 10 percent.

Patients who were given a single dose of the drug Zevalin without upfront chemotherapy showed a response rate of 84 percent, the company said.

Spectrum also said a late-stage trial of the drug showed nearly three years of progression-free survival benefit in patients with NHL after partial or complete response to first-line chemotherapy.

The company said it plans to submit the data for consideration to the U.S. Food and Drug Administration to remove the bioscan requirement before taking the injection.

Spectrum shares, which have risen 18 percent since the U.S. FDA accepted its cancer drug for review in November, were up 10 percent at $5.96 in extended trade on Monday. (Reporting by Shravya Jain in Bangalore; Editing by Vinu Pilakkott)

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