NEW YORK, Nov. 29, 2022 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Spectrum Pharmaceuticals, Inc. (“Spectrum” or the “Company”) SPPI. Those investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com 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 U.S. Food and Drug Administration advisors “voted against the recommendation of Spectrum Pharmaceuticals’ investigational drug for the treatment of patients with a form of non-small cell lung cancer, which has marginal efficacy, high toxicity, and lack of dose optimization. The panel’s decision was consistent with.” Information documents released Tuesday by the drug agency that raised concerns about the treatment’s effectiveness compared to existing drugs such as Daiichi Sankyo’s 4568.T Enhertu of AstraZeneca.”

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.

Then, on November 25, 2022, Spectrum announced that “the Company received a Complete Response Letter (CRL) from the U.S. Food and Drug Administration (FDA) regarding Spectrum’s New Drug Application (NDA) for poziotinib to treat patients has previously treated locally advanced or metastatic non-small cell lung cancer (“NSCLC”) with HER2 exon 20 insertion mutations. The FDA has issued a CRL stating that the application for poziotinib cannot be approved in its current form. Based at the CRL, the company would have generated additional data, including a pre-approval randomized controlled trial.”

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris and Tel Aviv, is…