{"id":716363,"date":"2022-12-02T15:35:17","date_gmt":"2022-12-02T20:35:17","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/kaplan-fox-continues-to-investigate-potential-securities-fraud-at-spectrum-pharmaceuticals-inc-nasdaq-sppi-investor-update\/"},"modified":"2022-12-02T15:35:17","modified_gmt":"2022-12-02T20:35:17","slug":"kaplan-fox-continues-to-investigate-potential-securities-fraud-at-spectrum-pharmaceuticals-inc-nasdaq-sppi-investor-update","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/kaplan-fox-continues-to-investigate-potential-securities-fraud-at-spectrum-pharmaceuticals-inc-nasdaq-sppi-investor-update\/","title":{"rendered":"Kaplan Fox Continues to Investigate Potential Securities Fraud at Spectrum Pharmaceuticals, Inc. (NASDAQ: SPPI) &#8211; INVESTOR UPDATE"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">NEW YORK, Dec.  02, 2022  (GLOBE NEWSWIRE) &#8212; Kaplan Fox &amp; Kilsheimer LLP (<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=jyz_QGoaCSFATS_jigMAruG8yVk7tSrp48QEsaQJoQnubiYdy37eIo8V0XWtfn4zGJqx6hAQFSmCWdRSYK3do0-8sDKQInEt7JhWPPjiwBjZdcXSdgcgL7oe6Wl63S-2\" rel=\"nofollow noopener\" target=\"_blank\"><u>www.kaplanfox.com<\/u><\/a>) is continuing to investigate claims on behalf of investors in Spectrum Pharmaceuticals, Inc. (\u201cSpectrum\u201d or the \u201cCompany\u201d) (NASDAQ: SPPI) securities.<\/p>\n<p align=\"justify\">\n        <strong>If you purchased Spectrum securities and would like to discuss our investigation, please contact us by emailing <\/strong><br \/>\n        <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=TTNLjDhvFHfhoMpTYSvsaeWjBLFN6aJeq6H0-xcbKYI5w0MlS7bWIN4kSQZjo7P7Mvaw0g48v5fm1YLS9YCrRYGMcvs4t0Tw7F6LtPNR3_8hOQe37M8VBbXD4DvKTt1_hv2maOHvVg_1X9DZA-wARQ==\" rel=\"nofollow noopener\" target=\"_blank\"><br \/>\n          <strong><br \/>\n            <u>jcampisi@kaplanfox.com<\/u><br \/>\n          <\/strong><br \/>\n        <\/a><br \/>\n        <strong> or by calling (212) 329-8571. <\/strong>\n      <\/p>\n<p align=\"justify\">On November 25, 2022, the Company disclosed that it \u201chas received a Complete Response Letter (CRL) from the U.S. Food and Drug Administration (FDA) regarding Spectrum\u2019s New Drug Application (NDA) for poziotinib for the treatment of patients with previously treated locally advanced or metastatic non-small cell lung cancer (&#8220;NSCLC&#8221;) harboring HER2 exon 20 insertion mutations. The FDA issued a CRL indicating the poziotinib application cannot be approved in its present form. Based on the CRL, the Company would have to generate additional data including a randomized controlled study prior to approval.\u201d<\/p>\n<p align=\"justify\">\u201cWhile we are not surprised by the CRL given the ODAC recommendation in September, we are disappointed. After multiple interactions with the FDA since ODAC, and following careful consideration, we have made the strategic decision to immediately de-prioritize the poziotinib program,\u201d said Tom Riga, President and Chief Executive Officer of Spectrum Pharmaceuticals. \u201cWe continue to believe that poziotinib could present a meaningful treatment option for patients with this rare form of lung cancer, for whom other therapies have failed.\u201d<\/p>\n<p align=\"justify\">According to <em>Reuter<\/em>s, the Company will cut 75% of its research and development workforce and focus on its other cancer drug, Rolvedon.<\/p>\n<p align=\"justify\">Previously, on September 22, 2022, <em>Reuters<\/em> reported that advisers to the U.S Food and Drug Administration \u201cvoted against recommending Spectrum Pharmaceuticals\u2019\u00a0 <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=U5Jn6-lWzdjM8WqKji8jc9DK2_27Ae9LUYxOqEK4xJFu2F50p-nwNuX7VHSiS990rqXW2q2Nlu7HASwTqWJWgmgWsFmCkrwV4NCicNU5O8s=\" rel=\"nofollow noopener\" target=\"_blank\"><u>(SPPI.O)<\/u><\/a>\u00a0experimental drug for the treatment of patients with a form of non-small cell lung cancer. The FDA panel voted 9 to 4 against the oral drug, poziotinib, citing marginal efficacy, high level of toxicities, and lack of dose optimization. The panel&#8217;s decision was in-line with \u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=NxxjG7Jrx-XgQancPGByZpy8u3XA2lY1ypgPD5U1F8jjPjxM6MzQac9DnY0_YQzeIm4HklXuk6zsU6NTIV0xJWIjD-Oy7JqVlLPOc0VaQAy36SDoBURYmTztE18_ZH7I\" rel=\"nofollow noopener\" target=\"_blank\"><u>briefing documents<\/u><\/a> released by the drug regulator on Tuesday that raised concerns over the efficacy of the treatment compared with existing drugs like Daiichi Sankyo\u2019s\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=-_8Kc4x9lLRLLI2SB5JdUTT8K56RSJtAed_5_317T_f2c4yq_uRXexosAFCdZTwNEp1moANJ1zlYXHY76RJH8uuNse5J8gMOpheYxu6TWj4=\" rel=\"nofollow noopener\" target=\"_blank\"><u>(4568.T)<\/u><\/a>\u00a0and AstraZeneca\u2019s Enhertu.\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=p5wROCHEyYZU1gzS1yOC-KxfVgvmbFIwLHyDAFyd1l-TSgCj6FB6j9-FFEcoENaGMC6EW8QDftWSpye3Kg2moMUGqS_udvymXhF5WpaTDe5GSVc92gBzNoYsuQsM5Y-evgc3-zVG-pt_RE35LfzFHkQurrfOp3-ZpFUndu4Fu72fA3H_hCG_54hRxWhDC-JZpHOwRWotOL9nslM6zkarcA==\" rel=\"nofollow noopener\" target=\"_blank\"><u>read more<\/u><\/a>\u201d<\/p>\n<p align=\"start\">Following this news, Spectrum\u2019s stock price declined from a closing price on September 22, 2022 of $0.63 per share, to close at $0.43 per share, a decline of over 31% per share on heavy volume.<\/p>\n<p align=\"justify\">This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.<\/p>\n<p align=\"justify\">\n        <strong>WHY CONTACT KAPLAN FOX &#8211; <\/strong>Kaplan Fox is a leading national law firm focusing on complex litigation with offices in New York, Oakland, Los Angeles, Chicago and New Jersey. With over 50 years of experience in securities litigation, Kaplan Fox offers the professional experience and track record that clients demand. Through prosecuting cases on the federal and state levels, Kaplan Fox has successfully shaped the law through winning many important decisions on behalf of our clients. For more information about Kaplan Fox &amp; Kilsheimer LLP, you may visit our website at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=jyz_QGoaCSFATS_jigMArtKrBq-wy4Npgrm8RpG6jQyhZnIDgs5iFAzzxwKGAuVSvJM6b0-_PgMpmzzYdpEeHA==\" rel=\"nofollow noopener\" target=\"_blank\"><u>www.kaplanfox.com<\/u><\/a>.<\/p>\n<p align=\"justify\">If you have any questions about this investigation, your rights, or your interests, please contact:<\/p>\n<p align=\"justify\">Jeffrey P. Campisi <br \/> KAPLAN FOX &amp; KILSHEIMER LLP <br \/> 850 Third Avenue, 14th Floor <br \/> New York, New York\u00a010022 <br \/> (212) 329-8571 <br \/> E-mail: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=TTNLjDhvFHfhoMpTYSvsaeWjBLFN6aJeq6H0-xcbKYL9Wl_QUMM-DcwqmVlTAl1XCefQlKv-DAkNS_FW-tvtcX4EtjW2AtbxR0EyDesxZzw=\" rel=\"nofollow noopener\" target=\"_blank\"><u>jcampisi@kaplanfox.com<\/u><\/a><\/p>\n<p align=\"start\">Laurence D. King <br \/> KAPLAN FOX &amp; KILSHEIMER LLP <br \/> 1999 Harrison Street, Suite 1560 <br \/> Oakland, California 94612 <br \/> (415) 772-4704 <br \/> Fax:\u00a0 (415) 772-4707 <br \/> E-mail: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=F-2dYNlqa9cqQo4XTaVHLH3V7GZGCfncFNkAAyyTfpZKPraFVOx5sbztYl5gu01EBb-RyjpWLCJoiXv3vJVW2BVjRufVP_i9hETBGSjIOcY=\" rel=\"nofollow noopener\" target=\"_blank\"><u>lking@kaplanfox.com<\/u><\/a><\/p>\n<p \/>\n      <img decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODcwNzcyMSM1Mjk0NjM0IzIwMjA4OTE=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" src=\"https:\/\/ml.globenewswire.com\/media\/MmVhNzhkZDEtNDQyNS00MTQ2LTg1OGItZDE3YjVmMmJkZTM1LTEwMzE5OTk=\/tiny\/Kaplan-Fox-Kilsheimer-LLP.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>NEW YORK, Dec. 02, 2022 (GLOBE NEWSWIRE) &#8212; Kaplan Fox &amp; Kilsheimer LLP (www.kaplanfox.com) is continuing to investigate claims on behalf of investors in Spectrum Pharmaceuticals, Inc. (\u201cSpectrum\u201d or the \u201cCompany\u201d) (NASDAQ: SPPI) securities. If you purchased Spectrum securities and would like to discuss our investigation, please contact us by emailing jcampisi@kaplanfox.com or by calling (212) 329-8571. On November 25, 2022, the Company disclosed that it \u201chas received a Complete Response Letter (CRL) from the U.S. Food and Drug Administration (FDA) regarding Spectrum\u2019s New Drug Application (NDA) for poziotinib for the treatment of patients with previously treated locally advanced or metastatic non-small cell lung cancer (&#8220;NSCLC&#8221;) harboring HER2 exon 20 insertion mutations. The FDA issued a CRL indicating the poziotinib &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/kaplan-fox-continues-to-investigate-potential-securities-fraud-at-spectrum-pharmaceuticals-inc-nasdaq-sppi-investor-update\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Kaplan Fox Continues to Investigate Potential Securities Fraud at Spectrum Pharmaceuticals, Inc. (NASDAQ: SPPI) &#8211; INVESTOR UPDATE&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-716363","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Kaplan Fox Continues to Investigate Potential Securities Fraud at Spectrum Pharmaceuticals, Inc. (NASDAQ: SPPI) - INVESTOR UPDATE - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/kaplan-fox-continues-to-investigate-potential-securities-fraud-at-spectrum-pharmaceuticals-inc-nasdaq-sppi-investor-update\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kaplan Fox Continues to Investigate Potential Securities Fraud at Spectrum Pharmaceuticals, Inc. (NASDAQ: SPPI) - INVESTOR UPDATE - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"NEW YORK, Dec. 02, 2022 (GLOBE NEWSWIRE) &#8212; Kaplan Fox &amp; Kilsheimer LLP (www.kaplanfox.com) is continuing to investigate claims on behalf of investors in Spectrum Pharmaceuticals, Inc. (\u201cSpectrum\u201d or the \u201cCompany\u201d) (NASDAQ: SPPI) securities. If you purchased Spectrum securities and would like to discuss our investigation, please contact us by emailing jcampisi@kaplanfox.com or by calling (212) 329-8571. On November 25, 2022, the Company disclosed that it \u201chas received a Complete Response Letter (CRL) from the U.S. Food and Drug Administration (FDA) regarding Spectrum\u2019s New Drug Application (NDA) for poziotinib for the treatment of patients with previously treated locally advanced or metastatic non-small cell lung cancer (&#8220;NSCLC&#8221;) harboring HER2 exon 20 insertion mutations. The FDA issued a CRL indicating the poziotinib &hellip; Continue reading &quot;Kaplan Fox Continues to Investigate Potential Securities Fraud at Spectrum Pharmaceuticals, Inc. 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If you purchased Spectrum securities and would like to discuss our investigation, please contact us by emailing jcampisi@kaplanfox.com or by calling (212) 329-8571. On November 25, 2022, the Company disclosed that it \u201chas received a Complete Response Letter (CRL) from the U.S. Food and Drug Administration (FDA) regarding Spectrum\u2019s New Drug Application (NDA) for poziotinib for the treatment of patients with previously treated locally advanced or metastatic non-small cell lung cancer (&#8220;NSCLC&#8221;) harboring HER2 exon 20 insertion mutations. The FDA issued a CRL indicating the poziotinib &hellip; Continue reading \"Kaplan Fox Continues to Investigate Potential Securities Fraud at Spectrum Pharmaceuticals, Inc. 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