Spec­trum shares crater as first round of piv­otal da­ta for their TKI falls short of pri­ma­ry end­point

Spec­trum Phar­ma­ceu­ti­cals had been talk­ing up its chances of get­ting an ac­cel­er­at­ed ap­proval for their EGFR TKI pozi­o­tinib for non-small cell lung can­cer off of pos­i­tive da­ta from the first co­hort in Phase II. In­stead, they’re try­ing to con­vince in­vestors they still have a shot at a mid-stage ap­proval now that the drug failed in the first — and per­haps most im­por­tant — of 7 co­horts.

It’s not work­ing. Shares $SP­PI dropped by more than 50% ahead of the bell the day af­ter Christ­mas.

Endpoints News

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.