Why Spectrum Pharmaceuticals Stock Jumped Higher Today
Spectrum Pharmaceuticals (NASDAQ: SPPI), a biotech developing treatments for various blood disorders and cancers, saw its shares gain as much as 51.7% today on over 19 times the average volume. The spark was provided by an extremely impressive interim data release for the company's non-small cell lung cancer (NSCLC) candidate, poziotinib. Poziotinib's interim mid-stage results were released as part of an oral presentation at the 18th World Conference on Lung Cancer in Yokohama, Japan.
Image source: Getty Images.
Spectrum has long been an oddball in commercial-stage oncology, because the company has largely failed to generate a robust revenue stream on a consistent basis -- despite having multiple products on the market. The crux of the problem is that Spectrum's diverse product portfolio lacks a bona fide star to drive growth.
Source: Fool.com
Spectrum Pharmaceuticals Stock
The community is currently still undecided about Spectrum Pharmaceuticals with 1 Buy predictions and 0 Sell predictions.
As a result the target price of 1 € shows a slightly positive potential of 5.26% compared to the current price of 0.95 € for Spectrum Pharmaceuticals.
