sppi-20220309
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
_______________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 9, 2022
SPECTRUM PHARMACEUTICALS INC
(Exact name of registrant as specified in its charter)
Delaware001-3500693-0979187
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
11500 South Eastern AvenueSuite 220HendersonNevada89052
(Address of principal executive offices)(Zip Code)
Registrant’s telephone number, including area code: (702) 835-6300
Not Applicable
(Former name or former address if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, $0.001 par valueSPPIThe NASDAQ Global Select Market
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.



Item 5.02    Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On March 9, 2022, the Board of Directors (the “Board”) of Spectrum Pharmaceuticals, Inc. (the “Company”) appointed Ms. Juhyun Lim to serve as a member of the Board. Ms. Lim has over 20 years of experience in the life sciences industry and has served as President, Global Strategy and Planning at Hanmi Science Co., Ltd. (“Hanmi Science”) and Hanmi Pharmaceutical Co., Ltd. (“Hanmi Pharmaceutical”), since September 2020 and January 2021, respectively, where she leads the execution of corporate strategy and investment. In conjunction with her role as President, Global Strategy and Planning of Hanmi Science, she also serves as a member of the Hanmi Science board of directors. Ms. Lim has also served as Director, Healthcare Investment at Hanmi Ventures since July 2017. In her 18-year tenure at Hanmi Pharmaceutical, Ms. Lim has held various leadership roles, including SVP, Human Resource Development, from January 2018 to January 2021, and VP, Human Resource Development, from January 2013 to January 2018.

On January 3, 2022, the Company entered into a privately-negotiated securities purchase agreement (the “Securities Purchase Agreement”) with Hanmi Pharmaceutical, pursuant to which Hanmi Pharmaceutical purchased an aggregate of 12,500,000 shares of Common Stock, par value $.001 per share, of the Company (“Common Stock”) at a price equal to $1.60 per share, for an aggregate purchase price of $20 million. Pursuant to the Securities Purchase Agreement, for so long as Hanmi Pharmaceutical shall beneficially own at least five percent (5%) of the total issued and outstanding shares of Common Stock, the Company shall take any and all actions reasonably necessary to nominate and appoint a designee of Hanmi Pharmaceutical (the “Designee”) to serve as a member of the Board. Ms. Lim’s appointment to the Board is as Designee pursuant to the Securities Purchase Agreement. In addition, Hanmi Pharmaceutical is counterparty to the Company’s license agreements for both ROLONTIS® (eflapegrastim) and poziotinib. Hanmi Pharmaceutical and the Company are also parties to a supply agreement, pursuant to which the Company paid to Hanmi Pharmaceutical an aggregate of approximately $2.5 million during the year ended December 31, 2021. As indicated above, Ms. Lim currently serves as President, Global Strategy and Planning, at Hanmi Pharmaceutical.

Except as described above, there are no arrangements or understandings between Ms. Lim and any other persons pursuant to which she was elected to serve on the Board, and there are no transactions in which Ms. Lim has an interest requiring disclosure under Item 404(a) of Regulation S-K.

In connection with the appointment of Ms. Lim to the Board, she also is expected to enter into the Company’s standard form of indemnification agreement providing for indemnification and advancement of expenses to the fullest extent permitted by the General Corporation Law of the State of Delaware.

Ms. Lim shall receive fees, compensation and equity awards in accordance with the terms of the Company’s compensation policy for directors, which was disclosed in the Company’s definitive proxy statement on Schedule 14A filed with the Securities and Exchange Commission on April 21, 2021, the terms of which are incorporated by reference herein.

The Company issued a press release regarding the appointment of Ms. Lim as a director of the Company which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01Financial Statements and Exhibits.
(d) Exhibits.

99.1 Press Release, dated March 10, 2022.
104 The cover page from this Current Report on Form 8-K, formatted in Inline XBRL.



SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

SPECTRUM PHARMACEUTICALS, INC.
Date:March 10, 2022By:/s/ Keith M. McGahan
Keith M. McGahan
Executive Vice President, Chief Legal Officer and Secretary


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Spectrum Pharmaceuticals Appoints Juhyun Lim of Hanmi Pharmaceutical to Board of Directors
HENDERSON, Nev. – March 10, 2022 – Spectrum Pharmaceuticals (NasdaqGS: SPPI), a biopharmaceutical company focused on novel and targeted oncology therapies, today announced the appointment of Juhyun Lim to its Board of Directors.

“We are delighted to have Ms. Lim join Spectrum’s Board of Directors,” said William Ashton, Chairman of the Board, Spectrum Pharmaceuticals. “This further strengthens our partnership with Hanmi and we look forward to her thoughtful guidance as we strategically define the next chapter at Spectrum and strive to advance novel medicines toward registration and commercialization.”

Juhyun Lim is an experienced executive with 20 years of experience in the life science industry and currently serves as President, Global Strategy and Planning at Hanmi Science and Hanmi Pharmaceutical, where she leads the execution of corporate strategy and investment. She also serves as Director, Healthcare Investment at Hanmi Ventures. Ms. Lim has held various senior leadership roles during her tenure at Hanmi, including SVP, Human Resource Development.

“I believe in Spectrum's commitment to serving patients with great needs and its vision and efforts for developing innovative medicines,” said Ms. Lim. “With Rolontis and poziotinib under Spectrum's lead, I am confident that the best efforts are put into the programs anticipating a great success in the oncology market. It is with great honor that l join the board and serve for a mutual goal.”

About Spectrum Pharmaceuticals, Inc.
Spectrum Pharmaceuticals is a biopharmaceutical company focused on acquiring, developing, and commercializing novel and targeted oncology therapies. Spectrum has a strong track record of successfully executing across the biopharmaceutical business model, from in-licensing and acquiring differentiated drugs, clinically developing novel assets, successfully gaining regulatory approvals and commercializing in a competitive healthcare marketplace. Spectrum has a late-stage pipeline with novel assets that serve areas of unmet need. This pipeline has the potential to transform the company in the near future. For additional information on Spectrum Pharmaceuticals please visit www.sppirx.com.
11500 S. Eastern Ave., Ste. 220 • Henderson, Nevada 89052 • Tel: 702-835-6300 • Fax: 702-260-7405 • www.sppirx.com • NASDAQ: SPPI

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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 as of the date hereof. These statements include, but are not limited to, statements that relate to Spectrum’s business and its future, including the timing and results of Spectrum’s strategic restructuring and the benefits expected to be derived therefrom, Spectrum's ability to drive future growth by focusing on its advanced clinical programs, the timing and results of FDA decisions relating to poziotinib and ROLONTIS, 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 Spectrum may fail to successfully implement planned cost reduction measures, the possibility that Spectrum’s 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 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. 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.® and ROLONTIS® are registered trademarks of Spectrum Pharmaceuticals, Inc and its affiliate. 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.

© 2022 Spectrum Pharmaceuticals, Inc. All Rights Reserved


Contacts:
Robert Uhl
Managing Director, ICR Westwicke
858.356.5932
robert.uhl@westwicke.com

Kurt Gustafson
Chief Financial Officer
949.788.6700
InvestorRelations@sppirx.com

11500 S. Eastern Ave., Ste. 220 • Henderson, Nevada 89052 • Tel: 702-835-6300 • Fax: 702-260-7405 • www.sppirx.com • NASDAQ: SPPI