Spectrum Pharmaceuticals Further Strengthens Management; Announces Appointment of Kurt Gustafson as Executive Vice President, Chief Financial Officer and Principal Accounting Officer
Brings over 20 years of diverse experience in corporate finance,
including 18 years at Amgen during which he served for three years as
CFO of Amgen International in Europe
Most recently was CFO at Halozyme Therapeutics, Inc. (NasdaqGS:
HENDERSON, Nev.--(BUSINESS WIRE)--
Spectrum Pharmaceuticals (NasdaqGS: SPPI), a biotechnology company with
fully-integrated commercial and drug development operations with a
primary focus in hematology and oncology, today announced the
appointment of Mr. Kurt Gustafson as the Company's Executive Vice
President, Chief Financial Officer, and Principal Accounting Officer
effective immediately. Mr. Gustafson has more than 20 years of diverse
experience in corporate finance, with 15 years in senior management
roles leading the finance departments of multi-faceted, dynamic and
growth oriented biopharmaceutical industry organizations. Spectrum also
announced today that Brett Scott, who formerly held the positions of
Senior Vice President and Acting Chief Financial Officer and served as
the Company's Principal Accounting Officer, transitioned to the new role
of Senior Vice President of Finance, with immediate effect and will
report directly to Mr. Gustafson.
"We believe this is a time of rapid growth at Spectrum, and the business
is becoming more complex," said Rajesh C. Shrotriya, MD, Chairman, Chief
Executive Officer, and President of Spectrum Pharmaceuticals. "Planning
for the future is an important aspect of our business, and we are very
pleased to welcome Kurt Gustafson to the Spectrum team. Kurt brings in
over 20 years of experience in finance and is a key addition to our
already strong management team. We look forward to working with Kurt as
we continue to build our business and execute our goals."
"Spectrum's strong foundation along with both near and long term growth
prospects make it a very exciting and important time," said Kurt
Gustafson. "I am very happy to be joining the Spectrum team, and I look
forward to helping the company strengthen its financial position as it
continues to grow its business in helping cancer patients everywhere."
Prior to joining Spectrum, Mr. Gustafson served as Vice President and
Chief Financial Officer at Halozyme Therapeutics, Inc., a
publicly-traded biopharmaceutical company, where he managed several
successful financings and established a three year mid-range planning
process to align resource allocations to long term strategic goals.
Before Halozyme, Mr. Gustafson worked at Amgen for over 18 years most
recently as Vice President, Finance, with responsibility for financial
planning and cost accounting for worldwide manufacturing covering seven
manufacturing sites. During his tenure at Amgen, Mr. Gustafson also
served as CFO of Amgen International and resided in Zug, Switzerland.
Mr. Gustafson holds a Bachelors of Arts degree in Accounting from North
Park University in Chicago and a Masters in Business Administration from
University of California, Los Angeles.
About Spectrum Pharmaceuticals, Inc.
Spectrum Pharmaceuticals is a leading biotechnology company focused on
acquiring, developing, and commercializing drug products, with a primary
focus in oncology and hematology. Spectrum and its affiliates market
three oncology drugs ─ FUSILEV® (levoleucovorin) for
Injection in the U.S.; FOLOTYN® (pralatrexate injection),
also marketed in the U.S.; and ZEVALIN® (ibritumomab
tiuxetan) Injection for intravenous use, for which the Company has
worldwide marketing rights. Spectrum's strong track record in
in-licensing and acquiring differentiated drugs, and expertise in
clinical development have generated a robust, diversified, and growing
pipeline of product candidates in advanced-stage Phase 2 and Phase 3
studies. More information on Spectrum is available at www.sppirx.com.
Forward-looking statement — This press release may contain
forward-looking statements regarding future events and the future
performance of Spectrum Pharmaceuticals that involve risks and
uncertainties that could cause actual results to differ materially.
These statements are based on management's current beliefs and
expectations. These statements include, but are not limited to,
statements that relate to our business and its future, including certain
company milestones, Spectrum's ability to identify, acquire, develop and
commercialize a broad and diverse pipeline of late-stage clinical and
commercial products, leveraging the expertise of partners and employees
around the world to assist us in the execution of our strategy, and any
statements that relate to the intent, belief, plans or expectations of
Spectrum or its management, or that are not a statement of historical
fact. Risks that could cause actual results to differ include the
possibility that our existing and new drug candidates may not prove safe
or effective, the possibility that our existing and new applications to
the FDA and other regulatory agencies may not receive approval in a
timely manner or at all, the possibility that our existing and new drug
candidates, if approved, may not be more effective, safer or more cost
efficient than competing drugs, the possibility that our efforts to
acquire or in-license and develop additional drug candidates may fail,
our lack of sustained revenue history, our limited marketing experience,
our dependence on third parties for clinical trials, manufacturing,
distribution and quality control and other risks that are described in
further detail in the Company's reports filed with the Securities and
Exchange Commission. We do not plan to update any such forward-looking
statements and expressly disclaim any duty to update the information
contained in this press release except as required by law.
SPECTRUM PHARMACEUTICALS, INC.®, FUSILEV®,
FOLOTYN®, and ZEVALIN®
are registered trademarks of Spectrum Pharmaceuticals, Inc and its
affiliates. REDEFINING CANCER CARE™ and the Spectrum Pharmaceuticals
logos are trademarks owned by Spectrum Pharmaceuticals, Inc.
© 2013 Spectrum Pharmaceuticals, Inc. All Rights Reserved.
Spectrum Pharmaceuticals, Inc.
Strategic Planning & Investor Relations
Source: Spectrum Pharmaceuticals, Inc.
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