Spectrum Pharmaceuticals Inc (NASDAQ:SPPI) has generated substantial share price appreciation in the last twelve months, due to its strategy of developing drugs in Hematology and Oncology. It currently offers six oncology and hematology drugs, and its several products are in advanced stages with the potential to make big changes in the company’s future fundamentals.
Spectrum’s share price surged massively by 284% in the last twelve months, while investors are expecting further upside, as its growing pipeline of product candidates include advanced-stage Phase 2 and Phase 3 studies.
Its total sales in the third quarter were standing around $36.2 million, including net sales of $1.8 million from FUSILEV® (levoleucovorin), $11.6 million from FOLOTYN® (pralatrexate injection) and $2.7 million from ZEVALIN® (ibritumomab tiuxetan). On the other hand, its MARQIBO® (vinCRIStine sulfate LIPOSOME injection) generated total sales of $1.2 million and EVOMELA® (melphalan) sales also hit $10.5 million in the third quarter.
Its CEO stated, encouraging data from the Phase 2 lung cancer study from poziotinib was presented at the World Conference on Lung Cancer in Japan two weeks ago. We remain very excited about poziotinib’s prospects in lung cancer as well as other solid tumors. We also look forward to receiving top-line results from ROLONTIS’s ADVANCE registrational Phase 3 study in the first quarter of 2018.”
Its ROLONTIS is the second major drug and the company seeks to publicize the topline data related to this drug in the next three months. The enrollment of this product is also swiftly moving towards the second trial. The company is also planning to file a Biologics License Application by the end of this year.
Finally, Spectrum’s novel tumor-activating cancer drug QAPZOLA is also now enrolling patients. The study related to tumor-activating cancer drug was designed using its previous studies, which are conducted under a particular protocol evaluation from the FDA.
The company also looks in a solid cash position to support its upcoming products. It ended the latest quarter with $248 million in cash and cash equivalents, higher from $139 million in the same period last year. Overall, Spectrum looks like a solid play in the biotechnology industry with strong future fundamentals.
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