Spectrum Pharmaceuticals, Inc. Prices Public Offering of Common Stock
July 30, 2020
San Diego – Paul Hastings LLP, a leading global law firm, announced today that the firm represented Spectrum Pharmaceuticals, Inc. (Nasdaq: SPPI), a biopharmaceutical company focused on novel and targeted oncology therapies, in the Company's underwritten public offering of 21,666,667 shares of its common stock at a purchase price of $3.00 per share. The underwriters will have a 30-day option to purchase up to an additional 3,250,000 shares of common stock from Spectrum.
Spectrum currently intends to use the net proceeds from the offering for general corporate purposes, including, without limitation, the continued development of its pipeline assets, sales and marketing activities, pre-launch activities associated with ROLONTIS and potential business development initiatives.
Spectrum Pharmaceuticals is a biopharmaceutical company focused on acquiring, developing, and commercializing novel and targeted oncology therapies. Spectrum has a strong track record of successfully executing across the biopharmaceutical business model, from in-licensing and acquiring differentiated drugs, clinically developing novel assets, successfully gaining regulatory approvals and commercializing in a competitive healthcare marketplace. Spectrum has a late-stage pipeline with novel assets that serve areas of unmet need. This pipeline has the potential to transform the company in the near future.
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