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Spectrum Pharmaceuticals markets two oncology drugs, FUSILEV® and ZEVALIN®, and has two drugs, apaziquone and belinostat, in late stage development. In the most recent quarter, Spectrum reported consolidated revenue of $51.02 million which was up 205% compared to the same quarter last year. Last week, the FDA approved the removal of the bioscan requirement for ZEVALIN. The Company has a strong late-stage pipeline and expects pivotal data from two drugs in 2012: apaziquone for the treatment of bladder cancer, and belinostat for the treatment of Peripheral T-Cell Lymphoma.
"We are at a momentous occasion in the lifetime of Spectrum Pharmaceuticals," said Dr. Shrotriya. "As we begin our 10th year of trading on Nasdaq as Spectrum Pharmaceuticals, FUSILEV and ZEVALIN are meaningfully contributing to the company's cash flows. Last week's FDA approval of the removal of the cumbersome bioscan requirement for ZEVALIN simplifies the drug's treatment regimen for patients with follicular non-Hodgkin lymphoma and should help us solidify the ZEVALIN brand in the long-term. These are very exciting times for Spectrum as pivotal data from apaziquone and belinostat within the next year could be transformative events for the Company. I am pleased that strategic decisions that we have taken in the past decade are now starting to bear fruit."
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