NEW YORK, Oct. 06, 2022 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Spectrum Pharmaceuticals, Inc. (“Spectrum” or the “Company”) (NASDAQ: 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.

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on 09/22/2022, Reuters reported that advisers to the US Food and Drug Administration “voted against recommending Spectrum Pharmaceuticals’ investigational drug to treat patients with a form of non-small cell lung cancer. The FDA panel voted 9-4 against the oral drug poziotinib, citing low efficacy, high levels of toxicity and lack of dose optimization. The panel’s decision was in line with information documents released by the drug agency on Tuesday, which raised concerns about the effectiveness of the treatment compared to existing drugs such as Daiichi Sankyo’s 4568.T AstraZenecas Enhertu.”

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….