Spectrum Pharmaceuticals Provides Update on At-The-Market Facility
September 29 2017 - 7:00AM
Business Wire
Spectrum Pharmaceuticals, Inc. (NasdaqGS: SPPI), a biotechnology
company with fully integrated commercial and drug development
operations with a primary focus in Hematology and Oncology,
announced that between August 11, 2017 and September 29, 2017, it
issued an aggregate of approximately 9.3 million shares of its
common stock under its previously announced “at-the-market”
offering program, resulting in aggregate net proceeds to the
company of approximately $90.2 million. The company expects to use
the proceeds from this financing to continue to develop its
pipeline and to provide additional flexibility to its capital
structure.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy the securities, nor shall there by
any sale of the securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of such
state or jurisdiction.
About Spectrum Pharmaceuticals, Inc.
Spectrum Pharmaceuticals is a leading biotechnology company
focused on acquiring, developing, and commercializing drug
products, with a primary focus in Hematology and Oncology. Spectrum
currently markets six hematology/oncology drugs, and has an
advanced stage pipeline that has the potential to transform
the company. Spectrum's strong track record for in-licensing and
acquiring differentiated drugs, and expertise in clinical
development have generated a robust, diversified, and growing
pipeline of product candidates in advanced-stage Phase 2 and Phase
3 studies. More information on Spectrum is available
at www.sppirx.com.
Forward-looking statement — This press release may contain
forward-looking statements regarding future events and the future
performance of Spectrum Pharmaceuticals that involve risks and
uncertainties that could cause actual results to differ materially.
These statements are based on management's current beliefs and
expectations. These statements include, but are not limited to,
statements that relate to Spectrum’s securities offering and the
anticipated use of net proceeds, its business and its future,
including certain company milestones, Spectrum's ability to
identify, acquire, develop and commercialize a broad and diverse
pipeline of late-stage clinical and commercial products, the timing
and results of FDA decisions, and any statements that relate to the
intent, belief, plans or expectations of Spectrum or its
management, or that are not a statement of historical fact. Risks
that could cause actual results to differ include risks related to
Spectrum’s condition requiring anticipated use of net proceeds to
change, risks related to general market or economic conditions, the
possibility that Spectrum’s existing and new drug candidates may
not prove safe or effective, the possibility that Spectrum’s
existing and new applications to the FDA and other regulatory
agencies may not receive approval in a timely manner or at all, the
possibility that Spectrum’s existing and new drug candidates, if
approved, may not be more effective, safer or more cost efficient
than competing drugs, the possibility that Spectrum’s efforts to
acquire or in-license and develop additional drug candidates may
fail, Spectrum’s dependence on third parties for clinical trials,
manufacturing, distribution and quality control and other risks
that are described in further detail in the Company's reports and
other documents filed with the Securities and Exchange Commission.
The Company does not plan to update any such forward-looking
statements and expressly disclaims any duty to update the
information contained in this press release except as required by
law.
SPECTRUM PHARMACEUTICALS, INC.® is a registered trademark of
Spectrum Pharmaceuticals, Inc.. REDEFINING CANCER CARE™ and the
Spectrum Pharmaceuticals logos are trademarks owned by Spectrum
Pharmaceuticals, Inc. Any other trademarks are the property of
their respective owners.
© 2017 Spectrum Pharmaceuticals, Inc. All Rights Reserved
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version on businesswire.com: http://www.businesswire.com/news/home/20170929005180/en/
Spectrum Pharmaceuticals, Inc.Shiv KapoorVice President,
Strategic Planning & Investor
Relations702-835-6300InvestorRelations@sppirx.com
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