Spectrum Pharmaceuticals, Inc. (SPPI) Forecasts Continued 5-Year Growth on Strong 2012 Operational and Financial Performance

It’s been a busy fall for Spectrum Pharmaceuticals, which has released a slew of news over the last few months, ranging from second-quarter earnings in August, updates on clinical trials, and the acquisition of Allos Therapeutics, to most recently being dubbed “One of the Best Places to Work in Southern Nevada.”

The commercial-stage pharmaceutical biotech company has three oncology products on the market as well as two drugs in late-stage development, in addition to a diverse pipeline. Utilizing in-licensing and co-development partnerships, the company aims at bringing to market drug candidates requiring further clinical development.

The U.S. Patent and Trademark Office recently awarded the company a five-year extension on its patent for FOLOTYN® for the treatment of patients with refractory peripheral T-cell lymphoma. Spectrum obtained the drug through the September 2012 acquisition of Allos Therapeutics, to which FOLOTYN contributed sales of approximately $50 million in 2011.

As for its own financial standings, Spectrum reported second-quarter earnings of $0.37, an increase of 48 percent compared to EPS of $0.12 in the comparable quarter of 2011.

Revenues for the quarter came in at $68.7 million, surpassing prior year second-quarter revenues of $45.4 million by 51.5 percent.

For the first half of 2012 Spectrum reported earnings of $1.10 per share, dwarfing EPS of $0.39 for the comparable six months of 2011. Revenue of $128.6 million marks an improvement of 44.5 percent compared to revenues of $89.0 million recorded in the first six months of 2011.

In its quarterly earnings release, the company framed a five-year positive outlook based on its current product portfolio, strong financial position, “robust” pipeline, and active business development.

For more information visit www.sppirx.com

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