This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Spectrum Pharmaceuticals Reports Record Revenues, Profits, And Cash Generated From Operations For The Twelve-Month Period Ended December 31, 2012

Spectrum Pharmaceuticals (NasdaqGS: SPPI), a biotechnology company with fully integrated commercial and drug development operations with a primary focus in hematology and oncology, today reported financial results for the three- and twelve-month periods ended December 31, 2012.

“With substantial year-over-year sales growth, 2012 stands out as a transformational year for Spectrum and provides a solid platform for anticipated strong growth in sales and operating income in 2013,” stated Rajesh C. Shrotriya, M.D., Chairman, President and Chief Executive Officer of Spectrum Pharmaceuticals, Inc. “FUSILEV ® sales volume was up in the fourth quarter in a competitive environment. We also diversified our commercial portfolio through the addition of FOLOTYN ® last fall, and FOLOTYN demonstrated robust sales in the most recent quarter. As we enhanced our global footprint and increased our commercial and market penetration, we also expanded our senior commercial team and implemented a new structure to allow our sales force to be even more customer-facing.”

Twelve-Month Period Ended December 31, 2012 (All #s are Approximate)

GAAP Results

Consolidated revenue of $267.7 million for the twelve-month period ending December 31, 2012 was comprised of product sales of $255.0 million and $12.7 million from licensing fees. This represents a 38.7% increase from the $193.0 million in consolidated revenue recorded in the same period of 2011, which was comprised of product sales of $180.7 million and $12.3 million from licensing fees.

Product revenues in 2012 comprised: FUSILEV ® sales of $204.3 million, FOLOTYN ® sales of $20.4 million (for the 4 months since acquisition), and ZEVALIN ® sales of $30.3 million (for the nine months since acquisition). FUSILEV sales volume increased significantly year-over-year, as well as in the fourth quarter compared to the previous quarter. However, 4Q FUSILEV revenues saw a decrease compared to 3Q due to greater gross-to-net adjustments, mostly attributable to an increase in the customer mix that receives government mandated rebates, per 340B regulations.

The Company recorded net income of $94.5 million, or $1.61 per basic and $1.46 per diluted share in the twelve-month period ended December 31, 2012, compared to net income of $48.5 million, or $0.91 per basic and $0.84 per diluted share in 2011. Total research and development expenses were $42.5 million in 2012, as compared to $27.7 million in 2011. Selling, general and administrative expenses were $92.0 million in 2012, which included non-cash charges of $13.0 million, compared to $72.6 million in 2011, which included non-cash charges of $20.6 million.

1 of 8

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,813.39 +1.20 0.01%
S&P 500 2,088.87 -0.27 -0.01%
NASDAQ 5,116.1430 +13.3350 0.26%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs