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
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

Spectrum Pharmaceuticals Reports Financial Results For Third Quarter 2013

Spectrum Pharmaceuticals (Nasdaq: SPPI), a biotechnology company with fully integrated commercial and drug development operations with a primary focus in hematology and oncology, announced today financial results for the three-month period ended September 30, 2013.

“I am excited about the performance of the company this quarter,” said Rajesh C. Shrotriya, MD, Chairman, Chief Executive Officer, and President of Spectrum Pharmaceuticals. “We are looking forward to filing the NDA for Belinostat before the end of this year and expect to bring this important treatment option to patients next year. We anticipate topline data for Captisol-enabled Melphalan’s pivotal trial to be available in the second quarter of 2014, and to file an NDA soon thereafter. Further, SPI-2012, our long-acting, proprietary conjugated GCSF, is progressing well and could have a significant impact on our long-term growth. We remain focused on executing our long-term strategy and continue to add assets to further diversify our portfolio.”

Three-Month Period Ended September 30, 2013 (All numbers are approximate)

GAAP Results

Consolidated revenues of $42.4 million was comprised of product net sales of $41.4 million and $1.0 million from licensing fees. This represents a 38.5% decrease from $69.0 million in consolidated revenue, including product net sales of $65.9 million, recorded in the three-month period ended September 30, 2012.

Product revenues in third quarter included: FUSILEV® (levoleucovorin) net sales of $23.1 million, FOLOTYN® (pralatrexate injection) net sales of $10.5 million, ZEVALIN® (ibritumomab tiuxetan) net sales of $7.8 million and Marqibo® (vinCRIStine sulfate LIPOSOME injection) net sales of $0.1 million.

The Company recorded net loss of $7.8 million, or ($0.13) per basic and diluted share in the three-month period ended September 30, 2013, compared to net income of $21.5 million, or $0.37 per basic and $0.33 per diluted share in the comparable period in 2012. Total research and development expenses were $13.6 million in the quarter, as compared to $10.0 million in the same period in 2012. Selling, general and administrative expenses were $29.0 million in the quarter, compared to $22.9 million in the same period in 2012. Expenses were higher this quarter primarily due to one time charges associated with the Talon acquisition.

Stock quotes in this article: SPPI 

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,424.85 +162.29 1.00%
S&P 500 1,862.31 +19.33 1.05%
NASDAQ 4,086.2250 +52.0640 1.29%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs