Spectrum Pharma rises on upbeat prelim Q4 revenue

Spectrum Pharmaceuticals

31/01/2023 13:42

** Shares of Spectrum Pharmaceuticals Inc  SPPI.O  rise 8.8%
to 59 cents premarket 
    ** Drug developer says Q4 2022 prelim revenues ~$10 mln,
above average of analysts' estimates of $3.8 mln - Refinitiv
    ** Strong revenue expectations driven by growing demand for
its sole commercial drug, Rolvedon injection, to boost white
blood cells (WBC) in cancer patients who receive treatments that
suppress their WBCs - SPPI  
    ** Co reports cash, cash equivalents and marketable
securities of $75 mln as of Dec. 31 
    ** SPPI expects to extend cash runway through 2024
    ** Rolvedon injection approved by the U.S. health regulator
in September last year
    ** Stock has fallen ~22% in the past 12 months
 (Reporting by Mariam E Sunny)
 ((Mariam.ESunny@thomsonreuters.com;))