Spectrum Pharma surges on FDA approval of Rolvedon injection

Spectrum Pharmaceuticals

12/09/2022 11:55

** Spectrum Pharmaceuticals Inc  SPPI.O  jumps 19% to $1.54
premarket; set for best day in almost 6 months if gains hold
    ** Among top three heaviest vols. and top pct. gainers
across U.S. exchanges
    ** U.S. FDA on Friday approved co's Rolvedon injection to
boost white blood cells (WBCs) in cancer patients who receive
treatments that suppress their WBCs  urn:newsml:reuters.com:*:nL4N30G32E
    ** Some cancer treatments reduce a patient's WBCs as a side
effect, a condition called neutropenia, that can put them at
risk of infections and illnesses
    ** Co expects product to be available in Q4 and targets a
market that totals $2 bln  urn:newsml:reuters.com:*:nBw8YxKH3a
    ** Brokerage H.C. Wainwright estimates Rolvedon sales of $3
mln in Q4 and $44 mln in 2023
    ** Over the weekend, SPPI also presented positive data for
its investigational drug poziotinib at a conference; H.C.
Wainwright estimates poziotinib sales of $2.2 mln in 2022 and
$328 mln in 2026
    ** Stock has gained 2% YTD

 (Reporting by Ruhi Soni in Bengaluru)
 ((Ruhi.Soni@thomsonreuters.com
Twitter: https://twitter.com/ruhithere))