Tom Riga, Spectrum Pharmaceuticals CEO

Spec­trum hits the re­set but­ton, slic­ing away 30% of its work­force in piv­ot around 2 lead as­sets

Covid-19 has been a rough go for many drug­mak­ers, but few more so than Spec­trum Phar­ma­ceu­ti­cals, which has seen in­spec­tion de­lays and un­want­ed CRLs haunt its chance at a first ap­proval. Feel­ing the sting, Spec­trum will now down­size to keep the lights on through the year.

Spec­trum will cut 30% of its work­force and piv­ot its R&D ef­forts around its two fur­thest-along drugs as part of a re­struc­tur­ing ef­fort that will pave the com­pa­ny’s cash run­way out in­to next year, it an­nounced Wednes­day.

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