![]() The company launched Rolvedon in the U.S. Spectrum expects preliminary net sales of around $10 million for the quarter ending on December 31, 2022. On January 31, Spectrum revealed unaudited Q4 2022 financial results. The company had a total cash balance of $100.3 million at the end of September 2022. The company's net loss for the quarter was $21.9 million, down from $33.1 million in the same period last year. Selling, General and Administrative expenses were $8.3 million, down from $12.2 million in the same period last year due to lower employee compensation and benefits and reductions in workforce. Spectrum's research and development expenses for the quarter were $13.3 million, down from $20.9 million in the same period last year due to completed program spend associated with Rolvedon and a decrease in personnel-related expenses from strategic restructuring. Let's first review Spectrum's latest financial report. The company has decided to de-prioritize poziotinib and focus on the commercialization of Rolvedon instead. The FDA stated that the drug cannot be approved in its present form, and additional data, including a randomized controlled study, would be required prior to approval. Recent events: In November, Spectrum received a Complete Response Letter from the FDA for its drug poziotinib, which was intended to treat previously treated locally advanced or metastatic non-small cell lung cancer with HER2 exon 20 insertion mutations. Food and Drug Administration (FDA) granted marketing approval for Rolvedon, marking a significant milestone for Spectrum. One of its key products is Rolvedon, formerly known as eflapegrastim, a long-acting granulocyte colony-stimulating factor (G-CSF) for the treatment of chemotherapy-induced neutropenia. Spectrum Pharmaceuticals ( NASDAQ: SPPI) is a biotechnology company that focuses on developing and commercializing therapies for cancer patients. Selling Spectrum shares before official Q4 2022 earnings in mid-March is advisable.ĪLIOUI Mohammed Elamine/iStock via Getty Images Introduction Spectrum's Rolvedon is unlikely to generate enough revenue for profitability, with no other prospects in the pipeline, raising questions about the company's viability.However, investors should not view this information alone but consider expenses as well. Spectrum's preliminary Q4 2022 sales figures for Rolvedon totaled $10 million, causing a stock surge from $80 million to $200 million in a month. ![]() For example, Coherus released Udenyca in 2019, but demand decreased significantly, leading to inventory write-down in Q3 2022. CIN market has many biosimilars, dominated by few big players.Rolvedon aimed to use a lower G-CSF dose than Neulasta to decrease adverse events but ultimately didn't succeed.Spectrum Pharmaceuticals develops and commercializes cancer therapies, including Rolvedon (formerly eflapegrastim), a long-acting G-CSF for treating chemotherapy-induced neutropenia (CIN). ![]()
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