Document

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

______________________________________________
FORM 11-K/A
(Amendment No. 1)
______________________________________________
x

ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 2020
OR
¨TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from               to             
Commission File Number: 001-35006  

A.    Full title of the plan and the address of the plan, if different from that of the issuer named below:
Spectrum Pharmaceuticals, Inc. 401(k) Plan

B.    Name of the issuer of the securities held pursuant to the plan and the address of its principal executive office:
Spectrum Pharmaceuticals, Inc.
11500 South Eastern Avenue, Suite 240
Henderson, Nevada 89052






EXPLANATORY NOTE

This Amendment No. 1 on Form 11-K/A (this “Amendment”) is being filed to amend the Annual Report of the Spectrum Pharmaceuticals, Inc. 401(k) Plan on Form 11-K for the year ended December 31, 2020 (the “Form 11-K”) as filed with the Securities and Exchange Commission on June 29, 2021. The sole purpose of this Amendment is to correct Exhibit 23.1 as filed with the Form 11-K, and to correct the date of the predecessor auditor's audit report contained within the Form 11-K from June 29, 2020 to June 25, 2020.

No other changes are being made to the Plan’s Form 11-K. This Amendment speaks as of the original filing date and does not reflect events occurring after the filing of the Form 11-K. No other changes are being made to any other disclosures contained in the Form 11-K.




SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the administrator has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
         
         
    
Spectrum Pharmaceuticals, Inc. 401(k) Plan
Date:June 30, 2021By: /s/ KURT GUSTAFSON
 Kurt Gustafson
 Chief Financial Officer






Spectrum Pharmaceuticals, Inc. 401(k) Plan
Table of Contents
Financial Statements:
Supplemental Information:




1


Report of Independent Registered Public Accounting Firm
Fiduciary Retirement Committee and Plan Participants
Spectrum Pharmaceuticals, Inc. 401(k) Plan
Opinion on the Financial Statements
We have audited the accompanying statement of net assets available for benefits of the Spectrum Pharmaceuticals, Inc. 401(k) Plan (the Plan) as of December 31, 2020, and the related statement of changes in net assets available for benefits for the year ended December 31, 2020 and the related notes and supplemental schedules (collectively referred to as the financial statements). In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2020, and the changes in net assets available for benefits for the year ended December 31, 2020 in conformity with accounting principles generally accepted in the United States of America.
Basis for Opinion
These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on these financial statements based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.
Our audit included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating, the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.
Supplemental Information
The supplemental information in the accompanying schedules of assets (held at end of year) as of December 31, 2020 and of delinquent participant contributions for the year ended December 31, 2020, have been subjected to the audit procedures performed in conjunction with the audit of the Plan’s financial statements. The supplemental information is the responsibility of the Plan's management. Our audit procedures included determining whether the supplemental information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. In forming our opinion on the supplemental information, we evaluated whether the supplemental information, including its form and content, is presented in conformity with the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental information is fairly stated, in all material respects, in relation to the financial statements as a whole.
/s/ RubinBrown LLP
We have served as the Plan's auditor since 2021.
Las Vegas, Nevada
June 29, 2021


 


2



Report of Independent Registered Public Accounting Firm
To the Administrative Committee and Plan Participants of
The Spectrum Pharmaceuticals, Inc. 401(k) Plan:
Opinion on the Financial Statements
We have audited the accompanying statement of net assets available for benefits of the Spectrum Pharmaceuticals, Inc. 401(k) Plan (the “Plan”) as of December 31, 2019 and the related statement of changes in net assets available for benefits for the year then ended and the related notes and supplemental schedules (collectively referred to as the financial statements). In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2019 and the changes in net assets available for benefits for the year then ended in conformity with accounting principles generally accepted in the United States of America.
Basis for Opinion
These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on these financial statements based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.
Our audit included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating, the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.
Supplemental Information
The supplemental information in the accompanying schedules of Assets (Held at End of Year) and of Delinquent Participant Contributions at December 31, 2019, have been subjected to the audit procedures performed in conjunction with the audit of the Plan’s financial statements. The supplemental information is the responsibility of the Plan's management. Our audit procedures included determining whether the supplemental information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. In forming our opinion on the supplemental information, we evaluated whether the supplemental information, including its form and content, is presented in conformity with the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental information is fairly stated, in all material respects, in relation to the financial statements as a whole.
/s/ Raimondo Pettit Group
We served as the Plan's auditor from 2012 through April 5, 2021.
Torrance, California
June 25, 2020

3



Spectrum Pharmaceuticals, Inc. 401(k) Plan
Statements of Net Assets Available for Benefits

December 31,
20202019
ASSETS
Investments, at fair value
Registered investment companies$16,815,141 $14,018,794 
Spectrum Pharmaceuticals Unitized Stock Fund1,785,665 1,571,676 
Common/collective trust1,350,867 1,060,351 
Total investments at fair value19,951,673 16,650,821 
Receivables:
Employer contributions536,209 457,518 
Participant contributions— 60 
Notes receivable from participants136,615 121,688 
Total receivables672,824 579,266 
NET ASSETS AVAILABLE FOR BENEFITS$20,624,497 $17,230,087 
The accompanying notes are an integral part of these financial statements.

4


Spectrum Pharmaceuticals, Inc. 401(k) Plan
Statement of Changes in Net Assets Available for Benefits

Year ended, December 31, 2020
ADDITIONS TO NET ASSETS ATTRIBUTED TO:
Contributions:
Participant deferrals$1,807,150 
Participant rollovers22,365 
Employer matching contributions932,488 
Employer profit sharing contributions487,205 
3,249,208 
Investment income:
Interest and dividends681,509 
Net appreciation in fair value of investments1,857,601 
2,539,110 
Interest income from notes receivable from participants6,704 
Total additions5,795,022 
DEDUCTIONS TO NET ASSETS ATTRIBUTED TO:
Distributions to participants2,357,530 
Administrative expenses43,082 
Total deductions from net assets2,400,612 
NET INCREASE IN NET ASSETS3,394,410 
NET ASSETS AVAILABLE FOR BENEFITS, AT BEGINNING OF YEAR17,230,087 
NET ASSETS AVAILABLE FOR BENEFITS, AT END OF YEAR$20,624,497 
The accompanying notes are an integral part of these financial statements.

5

Spectrum Pharmaceuticals, Inc. 401(k) Plan
Notes to Financial Statements
December 31, 2020


1. Description of the Plan
The following description of the Spectrum Pharmaceuticals, Inc. 401(k) Plan (the “Plan”) is only provided for general information purposes. Participants should refer to the Plan Document for a more complete description of the Plan’s provisions.
General
The Plan is a defined contribution pension plan covering eligible employees of Spectrum Pharmaceuticals, Inc. (the “Company” or “Spectrum”) as defined in the Plan Document. The Plan was adopted January 1, 1990, and established for the purpose of providing retirement benefits for eligible employees of the Company. The Plan is subject to regulation under the Employee Retirement Income Security Act of 1974 (“ERISA”) and the qualification provisions of the Internal Revenue Code (the “Code”).
The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) was passed by the U.S. Senate on March 27, 2020. In April 2020, the Plan adopted certain changes to participant distributions and loans as permitted by the CARES Act, discussed further in Distributions and Payments of Benefits and Notes Receivable from Participants.
Administration
Joseph W. Turgeon ("Mr. Turgeon"), Chief Executive Officer and Keith McGahan, Executive Vice President and Chief Legal Officer are the trustees of the Plan. In June 2019, Mr. Turgeon was designated as the Audit Committee Chair of the Plan. Matrix Trust Company, LLC, (“Matrix Trust”) serves as the account custodian for the Plan. Digital Retirement Solutions, Inc. (“DRS”) performs administrative and record keeping services for the Plan.
Eligibility
All Company employees are eligible to participate in the Plan, provided the employee has completed three months of employment. An eligible employee may enter the Plan on the first day of the month following his or her satisfaction of the eligibility requirements.
In the event of the Company's acquisition of a business, the employees of the newly acquired entity are given credit for the years of service earned prior to the Company’s ownership. If this credit for prior service allows such employees to meet Plan eligibility requirements, each has the option of participating in the Plan on the first day of the month following the business acquisition date.
Contributions
Each year, participants may elect to make pre-tax contributions up to 75% of their eligible compensation, as defined in the Plan. In addition, participants may elect to make after-tax (Roth) contributions up to 75% of their eligible compensation. Compensation deferrals cannot exceed the maximum deferral, as determined by the Internal Revenue Service ("IRS") each year. Such deferral limitation was $19,500 and $19,000 in 2020 and 2019, respectively. Employees who attained the age of 50 before the end of the Plan year, were eligible to make additional catch-up contributions of up to $6,500 and $6,000 in 2020 and 2019, respectively. Participants may also make rollover contributions into the Plan from other qualified plans.
The Company provides matching contributions, under a Safe Harbor arrangement, equal to 100 percent of the first three percent of eligible compensation deferred by a participant and 50 percent of the next two percent of eligible compensation deferred by a participant. The Company’s matching contribution made on behalf of any participant for any Plan year cannot exceed four percent of their eligible compensation. The Company has the right under the Plan to discontinue or modify its matching contributions at any time. The value of the Company’s aggregate matching contribution was $932,488 for the year ended December 31, 2020. Beginning in March 2020, the Company made the decision to change the Safe Harbor matching contributions from Company stock to cash moving forward. Additional amounts may be contributed at the discretion of the Company’s Board of Directors.

The Company also provides a discretionary profit sharing contribution to the Plan. The decision was made to change the profit sharing contribution from Company stock as of December 31, 2019 to cash for the year ending December 31, 2020. The allocation conditions of this discretionary profit sharing contribution include: (i) all employees who were employed on the last day of the Plan year, and (ii) all employees who completed one-thousand hours of service during the Plan year, except for reasons
6

Spectrum Pharmaceuticals, Inc. 401(k) Plan
Notes to Financial Statements (Continued)


including death, disability, or termination of employment after normal retirement age (defined as 65 years of age). The contribution amount for the Plan year is up to 2% of an employee's compensation earned during 2020, totaling $487,205, which was included in the employer contribution receivable at December 31, 2020. Compensation is generally defined as total compensation that is subject to income tax withholding and paid by the Company during the Pan year and is limited by law to $285,000 in 2020 for contribution calculation purposes.

Participant Accounts
DRS maintains an account in the name of each participant. Each eligible participant’s account is credited with (a) the participant’s contributions, (b) the Company’s Safe Harbor matching contributions and discretionary profit sharing contributions, and (c) an allocation of interest, dividends and any change in the market value of the various investment funds. Each eligible participant’s account is charged with any withdrawals or distributions requested by the participant and an allocation of administrative expenses, if applicable. Allocations are based on the ratio that each participant’s account balance in the fund bears to the total account balances of all participants in the respective fund.
Investment Options
Participants direct the investment of their contributions and any subsequent changes made to the Company’s matching and discretionary profit sharing contributions (in the form of Spectrum's common stock through February 2020 and then cash for the remainder of the Plan Year) into various investment options offered by the Plan. These options include numerous registered investment companies, a common/collective trust, and the Spectrum Pharmaceuticals Unitized Stock Fund. Participants may change their investment elections at any time for both existing account balances and future contributions.
Vesting
Safe Harbor Contributions: Participant contributions and Company Safe Harbor matching contributions are fully vested when made.
Profit Sharing Contributions: The "vested percentage" in the employees account attributable to discretionary profit sharing contributions is determined under the below schedule. Employees are 100% vested in the matching contributions if the employee is employed on or after the normal retirement age or if the employee dies or becomes disabled.

Vesting Schedule Profit Sharing Contributions
Years of ServicePercentage
Less than 2 years— %
2 years20 %
3 years40 %
4 years60 %
5 years80 %
6 years100 %

Distributions and Payments of Benefits
On termination of service due to death, disability, retirement, or other reasons, a participant may receive the value of the vested interest in his or her account as a lump-sum distribution, or as directed by the participant in accordance with the Plan's provisions. The Plan also permits in-service withdrawals for participants attaining certain age requirements and distributions for hardships, as defined in the Plan Document.
In accordance with the CARES Act, the Plan permitted eligible Plan participants to request penalty-free distributions of up to $100,000 for qualifying coronavirus-related reasons. These reasons include adverse financial consequences due to being quarantined, furloughed, laid off, having work hours reduced or being unable to work due to a lack of childcare due to COVID-19. The Plan made $16,000 of CARES Act distributions during the year ended December 31, 2020.
7

Spectrum Pharmaceuticals, Inc. 401(k) Plan
Notes to Financial Statements (Continued)


Forfeitures
    Although participant contributions and the Company's Safe Harbor matching contributions are fully vested at all times, forfeitures could result from the Company's discretionary contributions and certain excess matching. Excess Company matching results in a credit to the Plan and are held in a separate account for the payment of Plan administrative expenses or allowed employer contributions. During the year ended December 31, 2020, $4,743 was used to pay advisor fees. At December 31, 2020 and 2019, there were $5,263 and $0, respectively, held in this account.
Investment Management Fees and Operating Expenses
Investment management fees and operating expenses charged to the Plan for investments in the various funds are deducted from the income earned on a daily basis and are reflected as a component of the net appreciation/(depreciation) in the fair value of investments. Effective January 1, 2015, an ERISA Investment Advisory Agreement was entered into whereby rebates from certain fund investments are deposited into a separate account to be used to pay investment advisory fees and other revenue sharing is credited to the Plan to offset administrative expenses. Such amounts are reported in administrative expenses, rather than in net appreciation/(depreciation). As of December 31, 2020 and 2019, there was $304 and $540, respectively in Plan assets designated to pay Plan investment advisory fees.
Administrative Expenses
The compensation or fees of accountants, counsel and other specialists and any other costs of administering the Plan are generally paid by the Company (see Note 4). As discussed above, beginning in 2015, there was a change in the reporting of certain investment advisory expenses in the financial statements. Administrative expenses that are not paid by the Company are paid by the Plan. Administrative expenses for the year ended December 31, 2020 paid by the Plan were $43,082 and are included in administrative expenses in the Plan's financial statements.
Plan Termination
Although it has not expressed any intent to do so, the Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan, subject to the provisions of ERISA. In the event of Plan termination, any unvested amounts of Plan participants would become fully vested.
Notes Receivable from Participants
Loans to participants are secured by the participant’s account balance and may not exceed the lesser of 50% of the participant’s account balance or $50,000 in the aggregate for any individual participant. Loans bear interest at fixed annual rates, as determined by the Plan trustees, that are the prime interest rate plus two percent on the date the loan is processed. At December 31, 2020 and 2019, the annual interest rate of all loans outstanding was between 5.25% and 7.5%. Principal and interest are paid ratably through payroll deductions over a term not to exceed five years, unless the loan qualifies as a home loan, in which case the term may not exceed 15 years. A participant applying for a loan through the Plan will be charged a $100 loan application fee. The loan application fee is nonrefundable and is used to offset the administrative expenses associated with the loan.
In accordance with the CARES Act, the Plan permitted qualifying participants to delay loan repayments that were due between March 27, 2020 and December 31, 2020.

2. Summary of Significant Accounting Policies
Basis of Accounting
The Plan’s financial statements are prepared on the accrual basis, in conformity with generally accepted accounting principles in the United States of America ("U.S. GAAP").
Use of Estimates
The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and changes therein, and disclosure of contingent assets and liabilities at the date of the financial statements. Actual results could differ from those estimates.
Investment Valuation and Income Recognition
8

Spectrum Pharmaceuticals, Inc. 401(k) Plan
Notes to Financial Statements (Continued)


The Plan’s investments are stated at fair value. See Note 3 for discussion of fair value measurements.
Purchases and sales of securities are recorded on a trade date basis, dividends are recorded on the record date and interest income is recorded on the accrual basis. Net appreciation (depreciation) includes the Plan's realized/unrealized gains and losses on investments purchased, sold, and held during the year.
 
Notes Receivable from Participants
Notes receivable from participants are measured at their unpaid principal balance plus any accrued but unpaid interest. Delinquent participant loans are reclassified as distributions based upon the terms of the Plan document.
Payment of Benefits
Benefit payments to participants are recorded when paid.
Contributions
Contributions made by participants and the Company are recorded on an accrual basis. Contributions are recognized during the period in which the related compensation was paid.
Administrative Expenses
    The Company pays for certain administrative expenses for the Plan (see Note 4). Only expenses paid by the Plan are reflected in the Plan’s financial statements.

3. Fair Value Measurements
Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 820, Fair Value Measurements and Disclosures, provides the framework for measuring fair value. That framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy under ASC Topic 820 are described as follows:
Level 1: Quoted prices in active markets for identical assets or liabilities.
Level 2: Quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument.
Level 3: Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.
The Plan uses appropriate valuation techniques based on the available inputs to measure the fair value of their investments. When available, the Plan measures fair value using Level 1 inputs because they generally provide the most reliable evidence of fair value. Level 3 inputs are only used when Level 1 or Level 2 inputs are not available. The Plan has no investments that are classified as Level 2 or Level 3 as of December 31, 2020 and 2019.
The registered investment companies are valued at the net asset value (“NAV”) of shares held by the Plan at year-end, based upon quoted market prices.
The common/collective trust is valued at NAV. The NAV, as provided by the trustee, is used as a practical expedient to estimate fair value. The NAV is based on the fair value of the underlying investments held by the fund less its liabilities. This practical expedient is not used when it is determined to be probable that the fund will sell the investment for an amount different than the reported NAV. Participant transactions (purchases and sales) may occur daily. Were the Plan to initiate a full redemption of the common/collective trust, the investment advisor reserves the right to temporarily delay withdrawal from the trust in order to ensure that securities liquidations will be carried out in an orderly business manner. A full redemption of the Plan’s interest in the Wells Fargo Stable Return Fund M requires a twelve-month notice period. The common/collective trust held by the Plan files an annual return on Form 5500 as a direct filing entity.
9

Spectrum Pharmaceuticals, Inc. 401(k) Plan
Notes to Financial Statements (Continued)


The Spectrum Pharmaceuticals Unitized Stock Fund (the Fund) consists of the Company’s common stock and short-term cash, which provides liquidity for daily trading. The Company’s common stock is valued at the quoted market price from a national securities exchange and the short-term cash investments are held in a money market mutual fund and are valued at fair value based on the NAV per share. A market-based NAV per share is calculated for the Fund periodically, and is the basis for participant transactions. The Fund is valued using the calculated NAV as a practical expedient to estimate fair value.
The preceding methods described may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, although the Plan believes the valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date. There have been no changes to the methodologies used at December 31, 2020 or 2019.
The following tables represent the Plan’s fair value hierarchy for its investments as of December 31, 2020 and 2019:
Fair Value Measurements as of December 31, 2020
Investment CategoryLevel 1Level 2Level 3Total
Total registered investment companies$16,815,141 $— $— $16,815,141 
Common/collective trust measured at NAV(1)
1,350,867 
Spectrum Pharmaceuticals Unitized Stock Fund(1)
1,785,665 
Total assets at fair value$19,951,673 
Fair Value Measurements as of December 31, 2019
Investment CategoryLevel 1Level 2Level 3Total
Total registered investment companies$14,018,794 $— $— $14,018,794 
Common/collective trust measured at NAV(1)
1,060,351 
Spectrum Pharmaceuticals Unitized Stock Fund(1)
1,571,676 
Total assets at fair value$16,650,821 
(1) Certain investments that are measured at fair value using NAV per share/unit (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the statement of net assets available for benefits.

4. Related Party and Party-In-Interest Transactions
The Plan allows for transactions with certain parties who may perform services or have fiduciary responsibilities to the Plan. At December 31, 2020 and 2019, Plan investments include 476,422 and 399,450 shares of common stock of Spectrum, respectively, the Plan's sponsor. The fair value of these shares was $1,624,599 and $1,454,294, at December 31, 2020 and 2019, respectively. The Plan issues loans to participants, which are secured by the vested balances in the participant’s account. The Company may also pay certain administrative expenses on behalf of the Plan, which totaled $36,090 relating to the year ended December 31, 2020. Such transactions all qualify as exempt party-in-interest transactions under the provisions of ERISA.

5. Concentration, Market and Credit Risk
The Plan provides for various investment options, as well as Company matching contributions in Spectrum common stock. Investments are exposed to various risks, such as interest rate, market and credit risk. Due to the level of risk associated with certain investment securities, it is possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect participants’ account balances and the amount reported in the Statements of Net Assets Available for Benefits. As of December 31, 2020 and 2019, approximately 9% respectively, of the investments of the Plan consisted of securities of its sponsor, Spectrum Pharmaceuticals, Inc. As of December 31, 2020 and 2019, Spectrum’s stock price closed at $3.41 and $3.64, respectively.
6. Tax Status of the Plan
The Plan adopted a volume submitter plan document sponsored by DRS. DRS received an advisory letter from the IRS, dated March 31, 2014, which states that the volume submitter document satisfies the applicable provisions of the IRC. The Plan itself has not received a determination letter from the IRS. However, the Plan Administrator and the Plan’s tax counsel believe
10

Spectrum Pharmaceuticals, Inc. 401(k) Plan
Notes to Financial Statements (Continued)


that the Plan is currently designed and being operated in compliance with the applicable requirements of the IRC. Therefore, no provision for income taxes has been included in the Plan’s financial statements.
U.S. GAAP requires Plan management to evaluate tax positions taken by the Plan and recognize a tax liability (or asset) if the organization has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS. The Plan administrator has analyzed the tax positions taken by the Plan, and has concluded that as of December 31, 2020, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.

7. Subsequent Events
Effective January 1, 2021, the Plan was amended and restated in its entirety primarily for the purpose of changing the definition of compensation from Code Sec. 3401(a) wages (wages for withholding purposes) to 415 safe harbor compensation and to remove the three-month service eligibility requirement.


11



Spectrum Pharmaceuticals, Inc. 401(k) Plan
EIN: 93-0979187, PN: 001
Supplementary Information
Schedule H, Part IV, Line 4i
Schedule of Assets (Held at End of Year)
As of December 31, 2020
Identity of IssuerDescription of InvestmentType of InvestmentCurrent Value
Capital Research and Management Co.American Funds New World R5RIC$550,102 
Energy Select Sector SPDREnergy Select Sector SPDR ETFRIC101,189 
Federated Government ObligationsFederated Government Obligations ICRIC357,976 
Fidelity InvestmentsFidelity Advisor BalancedRIC910,777 
Fidelity InvestmentsFidelity Advisor Investment GradeRIC677,195 
Fidelity InvestmentsFidelity Advisor WorldwideRIC990,160 
Fidelity InvestmentsFidelity Real Estate InvestmentRIC125,944 
Fidelity InvestmentsFidelity Select Health Care PortfolioRIC715,344 
Fidelity InvestmentsFidelity Select Software & Comp PortRIC2,425,958 
Fidelity InvestmentsFidelity Telecom and UtilitiesRIC41,082 
Hartford FundsHartford International GrowthRIC459,150 
Janus Mutual FundsJanus Enterprise FundRIC895,412 
J.P. Morgan FundsJP Morgan Large Cap GrowthRIC4,770 
J.P. Morgan FundsJP Morgan Small Cap CoreRIC480,290 
J.P. Morgan FundsJP Morgan Smart Retirement 2020RIC114,621 
J.P. Morgan FundsJP Morgan Smart Retirement 2025RIC237,836 
J.P. Morgan FundsJP Morgan Smart Retirement 2030RIC373,369 
J.P. Morgan FundsJP Morgan Smart Retirement 2035RIC284,124 
J.P. Morgan FundsJP Morgan Smart Retirement 2040RIC537,764 
J.P. Morgan FundsJP Morgan Smart Retirement 2045RIC326,938 
J.P. Morgan FundsJP Morgan Smart Retirement 2050RIC154,642 
J.P. Morgan FundsJP Morgan Smart Retirement 2055RIC175,925 
J.P. Morgan FundsJP Morgan Smart Retirement IncomeRIC25,989 
MFS Investment ManagementMFS Core Equity FundRIC1,438,468 
Prudential FinancialPrudential Global Total ReturnRIC92,512 
Putnam InvestmentsPutnam Equity IncomeRIC330,695 
State Street Global AdvisorsSPDR Gold SharesRIC121,602 
State Street Global AdvisorsSPDR S&P 500RIC1,545,739 
T. Rowe Price Associates, Inc.T. Rowe Price Emerging Markets BondRIC257,030 
Vanguard Group, Inc.Vanguard Long Term Investment GradeRIC758,672 
Vanguard Group, Inc.Vanguard Stock Market IndexRIC640,218 
Wells Fargo AdvisorsWells Fargo Precious MetalsRIC157,133 
Wells Fargo AdvisorsWells Fargo Special Mid Cap ValueRIC506,515 
Wells Fargo Bank, N/AWells Fargo Stable Value Fund MCCT1,350,867 
Spectrum Pharmaceuticals, Inc.*Spectrum Pharmaceuticals Unitized Stock FundSPCS1,785,665 
Total investments$19,951,673 
Participant Loans*Participant Loans (maturing 2021 to 2034) at interest rates of 5.25% to 7.5%$136,615 
* Indicates a party-in-interest to the Plan.

RIC - Registered investment company
CCT - Common/collective trust
SPCS - Spectrum Pharmaceuticals Unitized Stock Fund
12


Spectrum Pharmaceuticals, Inc. 401(k) Plan
EIN: 93-0979187, PN: 001

Supplementary Information
Schedule H, Part IV, Line 4a
Schedule of Delinquent Participant Contributions
As of December 31, 2020

    During the year ended December 31, 2020, contributions consisting of employee deferrals were not remitted timely to the Plan, thus consisting of nonexempt transactions between the Plan and the Company. Lost earnings have been calculated and were remitted during the 2020 Plan year.
Total that Constitute Nonexempt Prohibited Transactions
Participant Contributions Transferred Late to PlanContributions Not CorrectedContributions Corrected Outside VFCP*Contributions Pending Correction in VFCP*Total Fully Corrected
Under VFCP* and PTE
2002-51
Check here if late participant loan
repayments are included:
$— $92,340 $— $— 
* Voluntary Fiduciary Correction Program


13


SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the members of the Fiduciary Retirement Committee of the Plan have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.
SPECTRUM PHARMACEUTICALS, INC.
Date:June 29, 2021By:/s/ Joseph W. Turgeon
President and Chief Executive Officer
14


EXHIBIT INDEX
Exhibit NumberExhibit Title
23.1Consent of Independent Registered Public Accounting Firm, Raimondo Pettit Group
23.2Consent of Independent Registered Public Accounting Firm, RubinBrown LLP
15
Document

Exhibit 23.1
Consent of Independent Registered Public Accounting Firm

We consent to the incorporation by reference in the Registration Statement (Nos. 333-216692, 333-134566 and 333-164014) on Form S-8 of Spectrum Pharmaceuticals, Inc. of our report dated June 25, 2020, with respect to the statements of net assets available for benefits of Spectrum Pharmaceuticals, Inc. 401(k) Plan as of December 31, 2019, the related statement of changes in net assets available for benefits for the year ended December 31, 2019, and the related supplemental schedules as of December 31, 2019, appearing in this Annual Report on Form 11-K of Spectrum Pharmaceuticals, Inc. 401(k) Plan.
/s/ Raimondo Pettit Group
Torrance, California
June 29, 2021


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Exhibit 23.2
Consent of Independent Registered Public Accounting Firm

We hereby consent to the incorporation by reference in the Registration Statement on Form S-8 (No. 333-216692, No. 333-134566 and No. 333-164014) of Spectrum Pharmaceuticals, Inc. of our report dated June 29, 2021, with respect to the statement of net assets available for benefits as of December 31, 2020, the related statement of changes in net assets available for benefits for the year ended December 31, 2020, and the related notes, and the supplemental schedules of Schedule H, Part IV, line 4i - Schedule of Assets (Held at End of Year) as of December 31, 2020 and Schedule H, Part IV, line 4a - Schedule of Delinquent Participant Contributions as of December 31, 2020, which report appears in the December 31, 2020 annual report on Form 11-K of the Spectrum Pharmaceuticals, Inc. 401(k) Plan.

/s/ RubinBrown LLP
Las Vegas, Nevada
June 29, 2021