HENDERSON, Nev.--(BUSINESS WIRE)--
Spectrum Pharmaceuticals, Inc. (NasdaqGS: SPPI), a biotechnology company
with fully integrated commercial and drug development operations with a
primary focus in Hematology and Oncology, announced that between August
11, 2017 and September 29, 2017, it issued an aggregate of approximately
9.3 million shares of its common stock under its previously announced
"at-the-market" offering program, resulting in aggregate net proceeds to
the company of approximately $90.2 million. The company expects to use
the proceeds from this financing to continue to develop its pipeline and
to provide additional flexibility to its capital structure.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy the securities, nor shall there by any
sale of the securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of such state or jurisdiction.
About Spectrum Pharmaceuticals, Inc.
Spectrum Pharmaceuticals is a leading biotechnology company focused on
acquiring, developing, and commercializing drug products, with a primary
focus in Hematology and Oncology. Spectrum currently markets six
hematology/oncology drugs, and has an advanced stage pipeline that has
the potential to transform the company. Spectrum's strong track record
for 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 Spectrum's securities offering and the anticipated use of net
proceeds, its 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, the timing and results of FDA decisions, 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
risks related to Spectrum's condition requiring anticipated use of net
proceeds to change, risks related to general market or economic
conditions, the possibility that Spectrum's existing and new drug
candidates may not prove safe or effective, the possibility that
Spectrum's 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 Spectrum's existing and new drug candidates, if
approved, may not be more effective, safer or more cost efficient than
competing drugs, the possibility that Spectrum's efforts to acquire or
in-license and develop additional drug candidates may fail, Spectrum's
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 and other documents filed with
the Securities and Exchange Commission. The Company does not plan
to update any such forward-looking statements and expressly disclaims
any duty to update the information contained in this press release
except as required by law.
SPECTRUM PHARMACEUTICALS, INC.® is a
registered trademark of Spectrum Pharmaceuticals, Inc.. REDEFINING
CANCER CARE™ and the Spectrum Pharmaceuticals logos are trademarks owned
by Spectrum Pharmaceuticals, Inc. Any other trademarks are the
property of their respective owners.
© 2017 Spectrum Pharmaceuticals, Inc. All Rights Reserved
View source version on businesswire.com: http://www.businesswire.com/news/home/20170929005180/en/
Spectrum Pharmaceuticals, Inc.
Shiv Kapoor
Vice President,
Strategic Planning & Investor Relations
702-835-6300
InvestorRelations@sppirx.com
Source: Spectrum Pharmaceuticals, Inc.
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