WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Spectrum Pharmaceuticals, Inc. (NASDAQ: SPPI) resulting from allegations that Spectrum Pharmaceuticals may have issued materially misleading business information to the investing public.

SO WHAT: If you purchased Spectrum Pharmaceuticals securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.

WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=9455 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

WHAT IS THIS ABOUT: On September 22, 2022, after market hours, Reuters reported that advisers to the U.S Food and Drug Administration (“FDA”) “voted against recommending Spectrum Pharmaceuticals’ [] experimental drug for the treatment of patients with a form of non-small cell lung cancer.” The article further reported that “[t]he 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’s decision was in-line with briefing documents released by the drug regulator on Tuesday that raised concerns over the efficacy of the treatment compared with existing drugs like Daiichi Sankyo’s [] and AstraZeneca’s Enhertu.”

On this news, Spectrum Pharmaceuticals’ stock price fell 31% to close at $0.43 per share on September 23, 2022, on unusually heavy trading volume.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

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