Spectrum Pharmaceuticals Lawsuit SPPI | Deadline February 3, 2023
Spectrum Pharmaceuticals Class Action Lawsuit (SPPI Lawsuit)
Investors who purchased or otherwise acquired SPPI common stock during the period from December 6, 2021 – September 22, 2022 can register their information before the deadline of February 3, 2023.
Is Spectrum Pharmaceuticals Involved in a Securities Class Action Lawsuit?
Yes, a lawsuit has been filed against Spectrum Pharmaceuticals on December 5 , 2022, on behalf of shareholders during the period from December 6, 2021 – September 22, 2022.
What Is The Spectrum Pharmaceuticals Lawsuit About?
The Spectrum Pharmaceuticals Class Action Lawsuit (NASDAQ:SPPI) (Spectrum Pharmaceuticals Class Action Lawsuit) was filed on behalf of the investors who purchased Spectrum Pharmaceuticals (SPPI) securities between December 6, 2021 to September 22, 2022. For more on the SPPI Lawsuit please contact us today.
According to the Spectrum Pharmaceuticals lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that:
Defendants were conducting a phase 2 clinical trial called ZENITH20.
The ZENITH20 trial was an ongoing, multicenter, multi-cohort, open-label, activity-estimating study evaluating the anti-tumor effects, safety, and tolerability of poziotinib, or “pozi”, in patients with locally advanced or metastatic non small cell lung cancer (“NSCLC”) that have certain mutations (HER2 exon 20 insertion mutations) and were previously treated with the standard of care.
The Complaint further alleges that during the class period, Defendants represented the safety and efficacy data from the ZENITH20 trial were positive and that they had initiated a required confirmatory phase 3 study.
However, unknown to investors, this was not true.
If you suffered a loss in SPPI, you have until February 3, 2023 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
How much did SPPI stock drop?
Shareholders whoe held Spectrum Pharmaceuticals securities saw stock declined from a closing price on September 19, 2022 of $1.06 per share, to close at $0.66 per share on September 20, 2022, a decrease of $0.40 per share or over 37%, on massive trading volume of over 21.85 million shares.
Shares of Spectrum common stock fell again, from a closing price on September 22, 2022 of $0.63 per share to $0.43 at close on September 23, 2022, a decrease of $0.20 or approximately 31% on heavier than usual volume.
What does SPPI Do?
Spectrum Pharmaceuticals, Inc., a biopharmaceutical company, develops and commercializes oncology and hematology drug products.
The company’s products under development include Eflapegrastim, a novel long-acting granulocyte colony-stimulating factor for chemotherapy-induced neutropenia; Poziotinib, a novel irreversible tyrosine kinase inhibitor for non-small cell lung cancer tumors with various mutations; and Anti-CD20-IFNa, an antibody-interferon fusion molecule directed against CD20 that is in Phase I development for the treatment of patients with relapsed or refractory non-Hodgkin’s lymphoma, including diffuse large B-cell lymphoma.
It has co-development, commercialization, and in-license agreements with Hanmi Pharmaceutical Co. Ltd.; a patent and technology license agreement with The University of Texas M.D. Anderson Cancer Center; and in-license agreement with ImmunGene, Inc. The company was formerly known as NeoTherapeutics, Inc. and changed its name to Spectrum Pharmaceuticals, Inc. in December 2002.
Spectrum Pharmaceuticals, Inc. was incorporated in 1987 and is based in Boston, Massachusetts.
Which Class Action Attorney Firm Can Help With The SPPI Lawsuit?
Levi & Korsinsky LLP is a Securities Class Action Law Firm. For over 20 years, Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States.
Does It Cost Me To Join The SPPI Class Action?
No, there are no out of pocket costs for you to join Spectrum Pharmaceuticals Lawsuit.
What Is the Lead Plaintiff Process?
THE LEAD PLAINTIFF PROCESS: According to the Private Securities Reform Act of 1995, any investor who bought or acquired SPPI securities in the Class Period may apply for appointment as a lead plaintiff. The lead plaintiff is usually the movant who has the most financial interest in the relief sought. However, he or she must also be typical or adequate to the putative classes. The SPPI class-action lawsuit is directed by the lead plaintiff. To litigate the Spectrum Pharmaceuticals Class Action Lawsuit, the lead plaintiff may choose any law firm it wishes. The ability of an investor to share in any future recovery is not tied to being the lead plaintiff in the SPPI Class Action Lawsuit.
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