NEW YORK, Oct. 06, 2022 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Spectrum Pharmaceuticals, Inc. (“Spectrum” or the “Company”) SPPI. Those investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, extension 7980.

The investigation concerns whether Spectrum and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.

[Click here for information about joining the class action]

on 09/22/2022, Reuters reported that U.S. Food and Drug Administration advisors “voted against the recommendation of Spectrum Pharmaceuticals’ investigational drug for the treatment of patients with a form of non-small cell lung cancer, which has marginal efficacy, high toxicity, and lack of dose optimization. The panel’s decision was consistent with.” Information documents released Tuesday by the drug agency that raised concerns about the treatment’s effectiveness compared to existing drugs such as Daiichi Sankyo’s 4568.T Enhertu of AstraZeneca.”

As a result of this news, Spectrum’s stock price fell $0.207 per share, or 32.65%, to close at $0.427 per share on September 23, 2022.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris and Tel Aviv, is recognized as one of the leading law firms specializing in corporate, securities and antitrust litigation. Founded by the late Abraham L. Pomerantz, best known as Dean of the Class Bar Association, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues the tradition he founded and fights for the rights of victims of securities fraud, fiduciary breaches and corporate wrongdoing. The firm has recovered numerous multi-million dollar claims on behalf of group members. See www.pomlaw.com.

CONTACT:
Robert S Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980