Key Developments: Spectrum Pharmaceuticals Inc (SPPI.OQ)

SPPI.OQ on NASDAQ Stock Exchange Global Select Market

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Latest Key Developments (Source: Significant Developments)

FDA Grants Spectrum Pharmaceuticals Accelerated Approval of Beleodaq (belinostat) for Injection
Monday, 7 Jul 2014 07:00am EDT 

Spectrum Pharmaceuticals Inc:Says U.S. Food and Drug Administration (FDA) has granted Accelerated Approval of Beleodaq for treatment of patients with relapsed or refractory peripheral T-cell lymphoma (PTCL).This indication is approved under accelerated approval based on Tumor Response Rate and Duration of Response.Says an improvement in survival or disease-related symptoms has not been established.Says Continued approval for this indication may be contingent upon verification and description of clinical benefit in the confirmatory trial.Says In this trial, Beleodaq was associated with hematologic toxicity, infections, hepatotoxicity, tumor lysis syndrome, gastrointestinal toxicity, and embryo-fetal toxicity.PTCL comprises a group of rare and aggressive non-Hodgkin's Lymphomas (NHL) that develop from mature T-cells and accounts for about 10 to 15 pct of all NHL cases in the United States.These patients generally have a poor prognosis with a low response rate (25-27 pct) to available treatment options, and commonly experience repeated treatment failures until drug resistance or death.Therefore, there has been an important unmet medical need for these patients with PTCL for additional new treatment options that are specifically effective for this disease.  Full Article

Spectrum Pharmaceuticals completes enrollment in Phase 2 Trial of SPI-2012
Wednesday, 28 May 2014 07:00am EDT 

Spectrum Pharmaceuticals Inc:Completes phase 2 study enrollment of long-acting granulocyte stimulating factor analog developed using LAPSCOVERY technology.  Full Article

Spectrum Pharmaceuticals Inc's Pivotal Trial of Captisol-Enabled (Propylene Glycol-Free) Melphalan Meets Primary Endpoint
Wednesday, 23 Apr 2014 07:00am EDT 

Spectrum Pharmaceuticals Inc:Says its pivotal trial of Captisol-enabled (propylene glycol-free) Melphalan met its primary end points.Phase 2 pivotal trial evaluating CE Melphalan was a multi-center trial evaluating safety and efficacy.Primary objective of study was to determine overall safety and toxicity profile in multiple myeloma patients receiving 200 mg/m(2)of CE Melphalan as myeloablative therapy prior to autologous stem cell transplantation (ASCT).Secondary objectives evaluated the efficacy of CE Melphalan in this patient population as measured by multiple myeloma response rate (according to International Myeloma Working Group [IMWG] criteria), and the rates of myeloablation, and engraftment.Primary endpoint of this Phase 2 trial was met, and additional analyses are currently underway.Company plans to file NDA in third quarter.  Full Article

Spectrum Pharmaceuticals appoints Joseph Turgeon as president and chief operating officer - Form 8-K
Thursday, 17 Apr 2014 05:03pm EDT 

Spectrum Pharmaceuticals Inc:Effective April 17, company appointed Joseph Turgeon as president and chief operating officer.On April 17, Ken Keller resigned from his position as executive vice president and chief operating officer.Keller will continue to be employed by company through April 28 in order to assist with the transition.Effective April 17, Tom Riga, currently Vice president, corporate accounts of company, is promoted to position of senior vice president and chief commercial officer.  Full Article

Spectrum Pharmaceuticals Inc announces offering of $100 million of convertible notes
Monday, 16 Dec 2013 04:01pm EST 

Spectrum Pharmaceuticals Inc:Intends to offer $100 million aggregate principal amount of convertible senior notes due 2018.Expects to grant an option to the initial purchasers for up to an additional $20 million aggregate principal amount of Convertible Notes, solely to cover overallotments.Expects to use a portion of the net proceeds from the sale of the Convertible Notes to pay the cost of the convertible note hedge transactions.Expects to use the remainder of the net proceeds for general corporate purposes, which may include working capital, research and development, clinical studies, and business development.Says Jefferies LLC and RBC Capital Markets, LLC are acting as joint book-running managers for the offering of Convertible Notes.  Full Article

Spectrum Pharmaceuticals Inc announces submission of new drug application for Belinostat
Tuesday, 10 Dec 2013 07:00am EST 

Spectrum Pharmaceuticals Inc:Says it has submitted a New Drug Application (NDA) to the U.S. Food and Drug Administration (FDA) for approval of Belinostat, a pan-histone deacetylase (HDAC) inhibitor, for the treatment of patients with relapsed or refractory peripheral T-cell lymphoma (R/R PTCL).Says Belinostat is differentiated from other HDAC inhibitors that selectively inhibit a single class of HDAC enzymes by virtue of its inhibition of all three classes of the zinc-dependent HDAC enzymes (Class I, Class II and Class IV).Says this leads to different alterations in histone and non-histone protein acetylation that, in turn, could importantly influence chromatin accessibility, gene transcription, and activity in different cancer patients, including those who develop drug resistant disease.  Full Article

Spectrum Pharmaceuticals Inc Reaffirms FY 2013 Revenue Guidance-Conference Call
Wednesday, 7 Aug 2013 04:30pm EDT 

Spectrum Pharmaceuticals Inc announced that for fiscal 2013, it expects revenues to be between $160 million and $180 million. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $160 million for fiscal 2013.  Full Article

Spectrum Pharmaceuticals Inc's Subsidiary Acquires Talon Therapeutics Inc
Wednesday, 17 Jul 2013 07:00am EDT 

Talon Therapeutics, Inc. announced that a subsidiary of Spectrum Pharmaceuticals, Inc. entered into an agreement to purchase approximately 89% of the outstanding shares of Talon Therapeutics Inc directly from the Company's principal stockholders. Spectrum also entered into an agreement with the Company under which the subsidiary of Spectrum will purchase additional shares from the Company that, together with the shares acquired from the Company's principal stockholders, will represent in excess of 90% of the outstanding shares of Talon, and under which Spectrum will acquire the remaining outstanding shares of Company common stock through a "short-form" merger of the subsidiary of Spectrum into the Company. The Company and Spectrum expect that the share purchase and the merger will be completed within one business day. Spectrum will pay aggregate upfront cash consideration in connection with the closing of the acquisition of approximately $11.3 million to Company stockholders, and Company stockholders will also receive contingent value rights (CVRs) to receive an aggregate of up to $195 million in future cash payments from Spectrum upon the achievement of certain one-time sales-based milestones for Marqibo and an approval-based milestone for Menadione Topical Lotion. There can be no assurance as to the actual value, if any, of a CVR, which will depend on numerous factors.  Full Article

Spectrum Pharmaceuticals Inc Announces Appointment of New Chief Financial Officer
Wednesday, 5 Jun 2013 07:00am EDT 

Spectrum Pharmaceuticals Inc announced the appointment of Mr. Kurt Gustafson as the Company's Executive Vice President, Chief Financial Officer, and Principal Accounting Officer effective immediately. Brett Scott, who formerly held the positions of Senior Vice President and Acting Chief Financial Officer and served as the Company's Principal Accounting Officer, transitioned to the new role of Senior Vice President of Finance, with immediate effect and will report directly to Mr. Gustafson.  Full Article

Law Offices of Todd M. Garber Announces Class Action Lawsuit Against Spectrum Pharmaceuticals Inc
Sunday, 28 Apr 2013 02:00pm EDT 

The Law Offices of Todd M. Garber announced that a class action lawsuit has been filed in the United States District Court for the District of Nevada on behalf of a class comprising all purchasers of the securities of Spectrum Pharmaceuticals Inc between August 8, 2012 and March 12, 2013, inclusive. The Complaint alleges that during the Class Period defendants misrepresented and/or failed to disclose that the increasing availability of leucovorin, a generic drug version of Spectrum's FUSILEV would have a negative impact on the Company's share price; FUSILEV's purported advantages over leucovorin would not be significant enough that clinics and hospitals would continue to choose the more expensive FUSILEV once leucovorin was available in larger quantities; and defendants lacked a reasonable basis for their positive statements about the Company and its revenue and earnings during the Class Period.  Full Article

FDA approves Spectrum Pharma's blood cancer drug

July 3 - Spectrum Pharmaceuticals Inc's drug for the treatment of an aggressive form of blood cancer was granted an accelerated approval by the U.S. Food and Drug Administration on Thursday.

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