- HC Wainwright reiterates the Buy rating on Spectrum Pharmaceuticals Inc SPPI, with a price target of $10.
- The analyst projects revenues of $170 million for Rolontis and $328 million for poziotinib in 2026.
- Eflapegrastim (formerly known as Rolontis; to be renamed) is a long-acting granulocyte colony-stimulating factor intended to stimulate neutrophil production for chemotherapy-induced neutropenia patients.
- Spectrum resubmitted the BLA for eflapegrastim to the FDA for review. Eflapegrastim's BLA previously received a CRL citing deficiencies in manufacturing at the drug manufacturing plant in South Korea.
- Related: Spectrum Pharma Highlights Poziotinib Data In Treatment-Naïve Lung Cancer Setting.
- The manufacturing plant in South Korea still needs to be reinspected, and notes the BLA resubmission could lead to a PDFUA date in September 2022.
- HC Wainwright anticipates a launch for eflapegrastim in late-2022 with $5 million in sales in 2022, growing to $170 million in 2026.
- Spectrum reported a 4Q FY21 adjusted EPS loss of $(0.17), beating the consensus of $(0.21).
- Spectrum reported cash, cash equivalents, and marketable securities of approximately $100.6 million. The additional cash, combined with the restructuring, is expected to extend the Company's cash runway into 2023.
- Price Action: SPPI shares are up 8.98% at $0.93 during the market session on the last check Friday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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