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.
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