Spectrum Pharmaceuticals, Inc. (SPPI) is a biotherapeutics company engaged in the acquisition, development, and commercialization of innovative and targeted cancer therapeutics. The pipeline product candidates of the company include Poziotinib for treating NSCLC and Anti-CD20-IFNa for treating non-Hodgkin’s lymphoma.
The price of SPPI stock during the regular trading on February 10, 2022, was $0.67 with a 1.32% decline. At last check in the premarket on February 11, 2022, the stock was up by 4.33%.
SPPI: Events and Happenings
On February 11, 2022, SPPI updated about the acceptance of poziotinib’s New Drug Application for review by the FDA. The company has reported optimistic Phase 2 clinical trial results in NSCLC patients. No treatment is currently approved by the FDA for the indication. Poziotinib had already received Fast Track designation from FDA.
On January 20, 2022, SPPI informed about its management’s participation at the Virtual B. Riley Securities 2022 Oncology Conference on January 27, 2022. On January 5, 2022, SPPI was informed about its strategic restructuring. The company prioritized poziotinib and ROLONTIS and deprioritized its early-stage clinical programs.
On January 4, 2022, SPPI announced a $20 million equity investment by Hanmi Pharmaceutical. The per-share price of the equity acquisition agreement was $1.60. On November 30, 2021, SPPI reported about its Executive management presence at the Virtual JMP Securities Hematology and Oncology Summit on December 7, 2021. On November 11, 2021, SPPI updated about its Virtual 2021 Jefferies London Healthcare Conference on November 18, 2021.
SPPI: Key Financials
On November 10, 2021, SPPI released its financial results for three months ended September 30, 2021. Some of the main aspects are discussed here.
EPS
Basic and diluted net loss per share in the quarter in 2021 was $33 million or $0.21 compared to $48.4 million or $0.37 in the same period of 2020. The EPS increased over the period of the year. The company’s EPS beat the analysts’ estimates by $0.09.
Conclusion
SPPI slipped 71% from the past six months period due to the declining impact of pandemics on the economy. The recent premarket boom in its stock price is the result of its lead product’s NDA acceptance by the FDA. As the earnings release date is near, the analysts are estimating the company’s EPS to be -$0.18.
