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NEW YORK ( TheStreet) -- Spectrum Pharmaceuticals Inc (Nasdaq: SPPI) hit a new 52-week high Monday as it is currently trading at $11.45, above its previous 52-week high of $11.36 with 2.6 million shares traded as of 2:15 p.m. ET. Average volume has been 999,100 shares over the past 30 days. Spectrum has a market cap of $470.7 million and is part of the health care sector and drugs industry. Shares are up 41.2% year to date as of the close of trading on Friday. Spectrum Pharmaceuticals, Inc., a commercial-stage biotechnology company, primarily focuses on oncology and hematology. The company engages in acquiring, developing, and commercializing a broad and diverse pipeline of late-stage clinical and commercial products. The company has a P/E ratio of 25.7, above the average drugs industry P/E ratio of 25.4 and above the S&P 500 P/E ratio of 17.7.