Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces the Filing of a Securities Class Action on Behalf of Spectrum Pharmaceuticals, Inc. (SPPI) Investors

Glancy Prongay & Murray LLP (“GPM”), a leading national shareholder rights law firm, announces that a class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Spectrum Pharmaceuticals, Inc. (“Spectrum” or the “Company”) (NASDAQ: SPPI) securities between December 27, 2018 and August 5, 2021, inclusive (the “Class Period”). Spectrum investors have until November 1, 2021 to file a lead plaintiff motion.

If you suffered a loss on your Spectrum investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https://www.glancylaw.com/cases/spectrum-pharmaceuticals-inc-1/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at [email protected] to learn more about your rights.

In December 2018, Spectrum submitted a Biologics License Application (“BLA”) to the U.S. Food and Drug Administration (“FDA”) for ROLONTIS as a treatment for chemotherapy-induced neutropenia.

On August 6, 2021, Spectrum announced that it had received a Complete Response Letter (“CRL”) from the FDA regarding the BLA, citing deficiencies related to manufacturing and requiring a reinspection of the Company’s manufacturing facility.

On this news, Spectrum’s stock price fell $0.70 per share, or nearly 22%, to close at $2.55 per share on August 6, 2021.

The complaint filed alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) the ROLONTIS manufacturing facility maintained deficient controls and/or procedures; (2) the foregoing deficiencies decreased the likelihood that the FDA would approve the ROLONTIS BLA in its current form; (3) Spectrum had therefore materially overstated the ROLONTIS BLA’s approval prospects; and (4) as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

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If you purchased or otherwise acquired Spectrum securities during the Class Period, you may move the Court no later than November 1, 2021 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210903005049/en/

Glancy Prongay & Murray LLP, Los Angeles
Charles H. Linehan, 310-201-9150 or 888-773-9224
1925 Century Park East, Suite 2100
Los Angeles, CA 90067
www.glancylaw.com
[email protected]