Spectrum Pharmaceuticals' stock drops after the company receives a dreaded CRL from the FDA for Evomela. George Budwell has been writing about healthcare and biotechnology companies at the Motley Fool since 2013. His primary interests are novel small molecule drugs, next generation vaccines, and cell therapies.
Why is Spectrum Pharmaceuticals stock plunging today?
Naturally, investors aren't thrilled at the prospect of Spectrum Pharmaceuticals diluting its shareholders, which explains why its stock is plunging today. Spectrum Pharmaceuticals is offering 21,666,667 shares of its common stock for $3 per share.
Is Spectrum Pharmaceuticals stock ripe for a trend reversal?
In addition to this technical measure, strong agreement among Wall Street analysts in revising earnings estimates higher indicates that the stock is ripe for a trend reversal. Joining me on the call today from Spectrum Pharmaceuticals will be Joe Turgeon, President and CEO; and Dr. Francois Lebel, our Chief Medical Officer.
Should you buy Spectrum Pharmaceuticals (SPR) stock?
The consensus among Wall Street analysts is that investors should "buy" Spectrum Pharmaceuticals stock. View analyst ratings for Spectrum Pharmaceuticals or view top-rated stocks.
What will Spectrum Pharmaceuticals'share price reach in the next year?
On average, they expect Spectrum Pharmaceuticals' share price to reach $23.40 in the next year. This suggests a possible upside of 155.5% from the stock's current price. View Analyst Price Targets for Spectrum Pharmaceuticals.
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Will Spectrum Pharmaceuticals stock go up?
The 5 analysts offering 12-month price forecasts for Spectrum Pharmaceuticals Inc have a median target of 4.00, with a high estimate of 10.00 and a low estimate of 3.00. The median estimate represents a +387.21% increase from the last price of 0.82.
Is Spectrum Pharmaceuticals stock a good buy?
Spectrum Pharmaceuticals has received a consensus rating of Buy. The company's average rating score is 2.67, and is based on 2 buy ratings, 1 hold rating, and no sell ratings.
Will Sppi get FDA approval?
--(BUSINESS WIRE)-- Spectrum Pharmaceuticals (NasdaqGS: SPPI), a biotechnology company with fully integrated commercial and drug development operations with a primary focus in Hematology and Oncology, announced today that the U.S. Food and Drug Administration (FDA) has granted Accelerated Approval of Beleodaq™ for the ...
Will Sppi go back up?
On average, analysts forecast that SPPI's EPS will be -$0.57 for 2022, with the lowest EPS forecast at -$0.71, and the highest EPS forecast at -$0.37. On average, analysts forecast that SPPI's EPS will be -$0.07 for 2023, with the lowest EPS forecast at -$0.28, and the highest EPS forecast at $0.06.
Is Spectrum Pharmaceuticals a good company?
Spectrum Pharmaceuticals has an overall rating of 2.9 out of 5, based on over 47 reviews left anonymously by employees. 44% of employees would recommend working at Spectrum Pharmaceuticals to a friend and 35% have a positive outlook for the business. This rating has been stable over the past 12 months.
Was Rolontis approved?
The FDA turned down Rolontis' application to treat neutropenia in cancer patients on myelosuppressive therapies. In a complete response letter, the FDA raised issues with manufacturing “deficiencies” and flagged the need for a site reinspection, Spectrum said in a release.
Who owns SPPI stock?
Top 10 Owners of Spectrum Pharmaceuticals IncStockholderStakeShares ownedArmistice Capital LLC9.65%17,100,000BlackRock Fund Advisors7.24%12,817,131D. E. Shaw & Co. LP4.43%7,845,726The Vanguard Group, Inc.4.32%7,646,4036 more rows
Is Spectrum Pharmaceuticals a buy right now?
3 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Spectrum Pharmaceuticals in the last year. There are currently 1 hold rati...
When is Spectrum Pharmaceuticals' next earnings date?
Spectrum Pharmaceuticals is scheduled to release its next quarterly earnings announcement on Thursday, August 11th 2022. View our earnings forecas...
How were Spectrum Pharmaceuticals' earnings last quarter?
Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) announced its quarterly earnings results on Thursday, March, 17th. The biotechnology company reported...
What price target have analysts set for SPPI?
3 brokerages have issued 1 year price objectives for Spectrum Pharmaceuticals' stock. Their forecasts range from $4.00 to $4.00. On average, they e...
Who are Spectrum Pharmaceuticals' key executives?
Spectrum Pharmaceuticals' management team includes the following people: Mr. Thomas J. Riga , Pres, CEO & Director (Age 46, Pay $1.03M) ( Linked...
What is Joseph Turgeon's approval rating as Spectrum Pharmaceuticals' CEO?
2 employees have rated Spectrum Pharmaceuticals CEO Joseph Turgeon on Glassdoor.com . Joseph Turgeon has an approval rating of 47% among Spectrum...
Who are some of Spectrum Pharmaceuticals' key competitors?
Some companies that are related to Spectrum Pharmaceuticals include Amgen (AMGN) , Gilead Sciences (GILD) , Regeneron Pharmaceuticals (REGN) ,...
What other stocks do shareholders of Spectrum Pharmaceuticals own?
Based on aggregate information from My MarketBeat watchlists, some companies that other Spectrum Pharmaceuticals investors own include Inovio Phar...
What is Spectrum Pharmaceuticals' stock symbol?
Spectrum Pharmaceuticals trades on the NASDAQ under the ticker symbol "SPPI."
When will Spectrum Pharmaceuticals release its earnings?
Spectrum Pharmaceuticals is scheduled to release its next quarterly earnings announcement on Monday, August 9th 2021. View our earnings forecast for Spectrum Pharmaceuticals.
How much does Spectrum Pharmaceuticals make?
How much money does Spectrum Pharmaceuticals make? Spectrum Pharmaceuticals has a market capitalization of $676.77 million and generates $109.33 million in revenue each year. The biotechnology company earns $-160,870,000.00 in net income (profit) each year or ($1.38) on an earnings per share basis.
The company announced the pricing of a public offering of common stock
A Fool since 2019, Prosper's writing focuses primarily on the healthcare sector. Passionate about teaching and learning, he enjoys helping others make better decisions about their finances -- and enjoys it just as much when they return the favor. In his free time, you'll find him curling up with a good book or doing math.
What happened
Shares of Spectrum Pharmaceuticals ( NASDAQ:SPPI), a small-cap biopharmaceutical company that focuses on cancer treatments, are down by 20.2% as of 12:18 p.m. EDT on Thursday, after the drugmaker announced the pricing of a public offering of common stock before the market opened today.
So what
Spectrum Pharmaceuticals is offering 21,666,667 shares of its common stock for $3 per share. Also, the company is granting underwriters a 30-day option to purchase an additional 3,250,000 shares. It expects to raise about $65 million in gross proceeds through this public offering of common stock, which should close on Aug. 3.
Now what
On Tuesday, Spectrum Pharmaceuticals' shares soared by more than 20%. The catalyst for these gains was the release of positive data from a clinical trial for one of its pipeline candidates called Poziotinib, which is an experimental treatment for non-small cell lung cancer. Meanwhile, the U.S.
What happened to Spectrum Pharmaceuticals?
Shares of Spectrum Pharmaceuticals ( NASDAQ:SPPI), a biopharmaceutical company focused on oncology treatments, are sliding after the Food and Drug Administration refused to designate the company's lung cancer candidate a Breakthrough Therapy.
Is spectrum a breakthrough drug?
Earning a breakthrough designation usually isn't hard: You simply need to show signs that your drug can outperform available options. Spectrum reported an impressive 40% response rate among 30 lung cancer patients who had relapsed multiple times, which should be enough for the designation. With this in mind, investors are worried this program is more troublesome than it appears.
Who is the CEO of Spectrum Pharmaceuticals?
Joining me on the call today from Spectrum Pharmaceuticals will be Joe Turgeon, President and CEO, and Dr. Francois Lebel, Chief Medical Officer.
What is the revenue of Clearside Biomedical?
Clearside Biomedical, Inc.'s (CLSD) fourth-quarter revenue plunged from $1.9 million in 2019 to $11,000 in 2020, due to lower revenues from partner licensing agreements. The net loss per share widened from 7 cents to 14 cents, while analysts estimated a loss of 11 cents per share.
Spectrum scores a key win in the clinic with its experimental lung cancer drug
George Budwell has been writing about healthcare and biotechnology companies at the Motley Fool since 2013. His primary interests are novel small molecule drugs, next generation vaccines, and cell therapies.
What happened
Spectrum Pharmaceuticals ( NASDAQ:SPPI), a small-cap biotech, is up big today following a positive midstage readout for its non-small cell lung cancer (NSCLC) drug poziotinib. Specifically, the drugmaker's shares are up by 23% on heavy volume as of 11:11 a.m. EDT Tuesday morning.
So what
Poziotinib is targeting previously treated NSCLC patients who exhibit the HER2 exon 20 insertion mutation. As there are no approved treatments for this specific form of the disease, Spectrum has a realistic shot at generating several hundred million in annual sales from this experimental cancer drug.
Now what
This midstage trial was reportedly designed to be a registrational study. Therefore, Spectrum hopes these encouraging data will be enough to gain the blessing of the Food and Drug Administration (FDA) following a formal review. The company thus plans on discussing a New Drug Application with the agency in the near future.