Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Stox2Watch©: Spectrum Pharma Still Hitting on All Cylinders

|Includes: AGN, Spectrum Pharmaceuticals, Inc. (SPPI)

At 7:00 AM ET, Spectrum Pharmaceuticals (NASDAQ:SPPI) updated shareholders on Eoquin.

SPPI Completes Enrollment in Second of Two Phase 3 Pivotal Trials for Apaziquone in Non-Muscle Invasive Bladder Cancer

  • Enrollment Completed In Both Phase 3 Registration Trials per a Special Protocol Assessment with the FDA
  • Scientific Advice Procedure with EMEA Indicated that the Two Phase 3 Studies Should Be Sufficient for a Regulatory Decision in Europe
  • Apaziquone Trials Received Fast Track Designation by FDA in July 2009
  • Primary Endpoint is Rate of Tumor Recurrence at Year Two
  • Triggers $1.5M Milestone Payment to SPPI by Allergan (NYSE:AGN)

Spectrum Pharmaceuticals 

In the coming days, SPPI should also provide an update on the company's supplemental new drug application (sNDA) for Fusilev, which is indicated for colorectal cancer.  A positive announcement on Fusilev could push shares back near $10.  Stay tuned.

Tip of the Day: Be quick to cover, but NOT to sell.

Disclosure: Long SPPI.