A lawsuit was filed on behalf of investors in Spectrum Pharmaceuticals, Inc. (NASDAQ: SPPI) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 09/13/2021 -- An investor, who purchased NASDAQ: SPPI shares, filed a lawsuit against Spectrum Pharmaceuticals, Inc over alleged Securities Laws violations.
Investors who purchased shares of Spectrum Pharmaceuticals, Inc. (NASDAQ: SPPI) have certain options and for certain investors are short and strict deadlines running. Deadline: November 1, 2021. NASDAQ: SPPI investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
Henderson, NV based Spectrum Pharmaceuticals, Inc., a biopharmaceutical company, develops and commercializes oncology and hematology drug products.
On August 6, 2021, Spectrum Pharmaceuticals, Inc. announced the Company received a Complete Response Letter (CRL) from the U.S. Food and Drug Administration regarding the Company's Biologics License Application for ROLONTIS®. The CRL cited deficiencies related to manufacturing and indicated that a reinspection of the Company's manufacturing facility would be necessary.
Shares of Spectrum Pharmaceuticals, Inc. (NASDAQ: SPPI) declined from $4.54 per share in June 2021 to as low as $2.27 per share on August 6, 2021.
The plaintiff claims that between December 27, 2018 and August 5, 2021, the Defendants made false and/or misleading statements and/or failed to disclose that the ROLONTIS manufacturing facility maintained deficient controls and/or procedures, that the foregoing deficiencies decreased the likelihood that the FDA would approve the ROLONTIS BLA in its current form, that Spectrum had therefore materially overstated the ROLONTIS BLA's approval prospects, and that as a result, the Company's public statements were materially false and misleading at all relevant times.
Those who purchased shares of Spectrum Pharmaceuticals, Inc. (NASDAQ: SPPI) have certain options and should contact the Shareholders Foundation.
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