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SPPI Spectrum Pharmaceuticals

Spectrum Pharmaceuticals is an American biopharmaceutical company. The company is located in Irvine, California. Spectrum develops and markets drugs for treatments in oncology.

Company profile

Ticker
SPPI
Exchange
Website
CEO
Joseph W. Turgeon
Employees
Incorporated
Location
Fiscal year end
Former names
NEOTHERAPEUTICS INC
SEC CIK
IRS number
930979187

SPPI stock data

(
)

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

31 Mar 21
11 Apr 21
31 Dec 21
Quarter (USD)
Dec 20 Sep 20 Jun 20 Mar 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 46.01M 46.01M 46.01M 46.01M 46.01M 46.01M
Cash burn (monthly) 10.37M 1.53M 20.96M 15.71M 11.1M 10.14M
Cash used (since last report) 35.01M 5.18M 70.74M 53.01M 37.46M 34.2M
Cash remaining 11M 40.83M -24.73M -7M 8.55M 11.81M
Runway (months of cash) 1.1 26.6 -1.2 -0.4 0.8 1.2

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
7 Apr 21 Vacirca Jeff L Common Stock, $0.001 par value Grant Aquire A No No 3.15 20,000 63K 145,967
6 Apr 21 Lebel Francois Common Stock, $0.001 par value Sell Dispose S No Yes 3.24 1,025 3.32K 350,867
5 Apr 21 Lebel Francois Common Stock, $0.001 par value Sell Dispose S No Yes 3.312 1,125 3.73K 351,892
1 Apr 21 McGahan Keith M Common Stock, $0.001 par value Sell Dispose S No Yes 3.3 2,200 7.26K 312,893
31 Mar 21 McGahan Keith M Common Stock, $0.001 par value Sell Dispose S No Yes 3.2 1,739 5.56K 315,093
16 Mar 21 Gustafson Kurt A Common Stock, $0.001 par value Sell Dispose S No Yes 3.69 16,318 60.21K 400,451
16 Mar 21 Lebel Francois Common Stock, $0.001 par value Sell Dispose S No Yes 3.69 18,828 69.48K 353,017
15 Mar 21 Gustafson Kurt A Common Stock, $0.001 par value Sell Dispose S No Yes 3.625 20,365 73.82K 416,769
15 Mar 21 Lebel Francois Common Stock, $0.001 par value Sell Dispose S No Yes 3.625 22,631 82.04K 371,845

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

64.9% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 158 154 +2.6%
Opened positions 22 24 -8.3%
Closed positions 18 21 -14.3%
Increased positions 57 77 -26.0%
Reduced positions 42 26 +61.5%
13F shares
Current Prev Q Change
Total value 340.32M 378.47M -10.1%
Total shares 99.77M 92.74M +7.6%
Total puts 188.5K 118.3K +59.3%
Total calls 100.8K 133.3K -24.4%
Total put/call ratio 1.9 0.9 +110.7%
Largest owners
Shares Value Change
BLK Blackrock 27.82M $94.87M +5.1%
Vanguard 12.1M $41.26M +5.2%
STT State Street 10.59M $36.1M +53.9%
Armistice Capital 9.59M $32.71M +26.7%
Boxer Capital 3.33M $11.37M 0.0%
MCQEF Macquarie 2.89M $9.85M -12.0%
Renaissance Technologies 2.38M $8.11M -29.5%
Geode Capital Management 2.19M $7.46M +10.6%
NTRS Northern Trust 1.7M $5.79M -0.3%
Dimensional Fund Advisors 1.63M $5.58M -14.6%
Largest transactions
Shares Bought/sold Change
STT State Street 10.59M +3.71M +53.9%
Armistice Capital 9.59M +2.02M +26.7%
BLK Blackrock 27.82M +1.35M +5.1%
Renaissance Technologies 2.38M -994.81K -29.5%
Two Sigma Investments 1.56M +720K +85.4%
Vanguard 12.1M +601.62K +5.2%
MS Morgan Stanley 924.17K +533.1K +136.3%
Millennium Management 0 -517.54K EXIT
DAFNA Capital Management 0 -514.89K EXIT
Two Sigma Advisers 1.3M +511.9K +65.4%

Financial report summary

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Risks
  • Risks Related to Our Business
  • If we are unable to continue to successfully develop poziotinib, ROLONTIS, or any of our other pipeline products, our business, prospects, operating results, and financial condition will be materially harmed.
  • Clinical trials may fail to demonstrate the safety and efficacy of our drug products, which could prevent or significantly delay obtaining regulatory approval.
  • We currently generate no revenue from commercial sales and future commercial sales may not be sufficient to sustain our business operations.
  • The COVID-19 pandemic and the future outbreak of other highly infectious or contagious diseases, could materially and adversely impact or disrupt our business and our financial condition, results of operations, cash flows and performance.
  • The pharmaceutical and biotechnology industries are intensely competitive. We are aware of several competitors attempting to develop and market products competitive to our in-development products, which may reduce or eliminate our commercial opportunities in the future.
  • Our supply of APIs, and drug products are and will remain dependent upon the production capabilities of contract manufacturing organizations (CMOs) and other third-parties for related supplies and logistical services. Some of these vendors are based overseas. If they are not able to meet our requirements and/or FDA scrutiny, we may be limited in our ability to meet demand for our products, ensure regulatory compliance, or maximize profit on the future sale of our products. In addition, our dependence on these ex-U.S. vendors also subjects us to business interruption risks related to COVID-19, and/or similar outbreaks, which could have a material adverse impact on us.
  • Our future sales will depend on coverage and reimbursement from third-party payers and a reduction in the coverage and/or reimbursement for our products could have a material adverse effect on our product sales, business and results of operations.
  • A breakdown or breach of our information technology systems and cybersecurity efforts could subject us to liability, reputational damage or interrupt the operation of our business.
  • Reports of adverse events or safety concerns involving our in-development products or similar agents, could delay or prevent us from obtaining or maintaining regulatory approval or negatively impact sales.
  • Our dependence on key executives, scientists and sales and marketing personnel could impact the development and management of our business.
  • A significant portion of our revenue has historically been derived from a limited number of distributors - and is expected to persist for our in-development drugs upon potential FDA approval.
  • Our efforts to acquire or in-license and develop additional drug products may fail and/or our in-licensed products may fail to perform as we anticipate, which might limit our ability to grow our business.
  • Adverse economic conditions may have material adverse consequences on our business, results of operations and financial condition as well as our ability to raise additional capital.
  • We are a small company relative to our principal competitors, and our limited financial resources may limit our ability to develop and market our drug products.
  • If actual future payments for allowances for discounts, returns, rebates and chargebacks exceed the estimates we made at the time of the sale of our products, our financial position, results of operations, and cash flows may be materially and negatively impacted.
  • Our business strategy requires that we engage in transactions that increase our capital requirements, cause us to incur debt or assume contingent liabilities, and possibly dilute our stockholders.
  • Our collaborations with outside scientists may be subject to change, which could limit our access to their expertise.
  • We may rely on CROs and other third parties to conduct clinical trials and, in such cases, we are unable to directly control the timing, conduct and expense of our clinical trials.
  • Competition for patients in conducting clinical trials may prevent or delay product development and strain our limited financial resources.
  • We may have conflicts with our third-party development partners that could delay or prevent the development or commercialization of our drug products.
  • From time to time we may need to in-license patents and proprietary technologies from third parties, which may be difficult or expensive to obtain.
  • The potential size of the market for our drug products is uncertain.
  • If our employees, representatives or agents fail to comply with regulatory standards and requirements, we could be exposed to financial, reputational or other harm.
  • We have a history of net losses. We expect to continue to incur net losses and may not achieve profitability for some time, if at all.
  • Risks Related to Our Industry
  • Failure to obtain regulatory approval outside the U.S. will prevent us from marketing our product candidates abroad.
  • Even after we receive regulatory approval to market our drug products, the market may not be receptive to our drug products upon their commercial introduction, which would negatively impact our ability to achieve profitability.
  • Guidelines and recommendations published by various organizations can reduce the use of our products.
  • Legislative or regulatory reform of the healthcare system and pharmaceutical industry related to pricing, coverage or reimbursement may hurt our ability to sell our products profitably or at all.
  • If we market products in a manner that violates federal or state health care fraud and abuse laws, we may be subject to civil or criminal penalties, including exclusion from participation in government health care programs.
  • We may be involved in additional lawsuits to defend or enforce our patents, which could be expensive, time-consuming and unsuccessful.
  • We could be adversely affected by violations of the FCPA and other worldwide anti-bribery laws.
  • Pricing for pharmaceutical products has come under increasing scrutiny by governments, legislative bodies and enforcement agencies. Changes in laws and regulations that control drug pricing for government programs allow for negotiated pricing or limit product coverage, and reduced reimbursements may adversely impact our operating results and our business.
  • Risks Related to Our Common Stock
  • Future issuances of our common stock or instruments convertible or exercisable into our common stock, may materially and adversely affect the price of our common stock and cause dilution to our existing stockholders.
  • The market price and trading volume of our common stock fluctuate significantly and could result in substantial losses for individual investors.
  • Provisions of our charter, and bylaws may make it more difficult for someone to acquire control of us or replace current management even if doing so would benefit our stockholders, which may lower the price an acquirer or investor would pay for our stock.
  • From time to time we may need to in-license patents and proprietary technologies from third parties, which may be difficult or expensive to obtain.
  • If we are unable to adequately protect our technology or enforce our patent rights, our business could suffer.
  • Intellectual property rights do not necessarily address all potential threats.
  • If we fail to comply with our obligations in the agreements under which we license intellectual property rights from third parties or otherwise experience disruptions to our business relationships with our licensors, we could lose intellectual property rights that are important to our business.
  • If we are unable to protect the confidentiality of our trade secrets, the value of our technology could be materially adversely affected and our business would be harmed.
  • We may not be able to protect our intellectual property rights throughout the world.
  • Changes in U.S. patent law could diminish the value of patents in general, thereby impairing our ability to protect our products.
  • Obtaining and maintaining our patent protection depends on compliance with various procedural, document submission, fee payment and other requirements imposed by governmental patent agencies, and our patent protection could be reduced or eliminated for non-compliance with these requirements.
  • Intellectual property rights are complex and uncertain and therefore may subject us to infringement claims.
  • We may be subject to claims that our employees, consultants or independent contractors have wrongfully used or disclosed confidential information of third parties or that our employees have wrongfully used or disclosed alleged trade secrets of their former employers.
  • We may be involved in additional lawsuits to defend or enforce our patents, which could be expensive, time-consuming and unsuccessful.
  • We may be subject to claims challenging the inventorship of our patents and other intellectual property.
  • Some intellectual property that we have in-licensed may have been discovered through government funded programs and thus may be subject to federal regulations such as “march-in” rights, certain reporting requirements and a preference for U.S.-based companies. Compliance with such regulations may limit our exclusive rights, and limit our ability to contract with non-U.S. manufacturers.
  • Our failure to establish and maintain effective internal control over financial reporting could result in material misstatements in our financial statements, our failure to meet our reporting obligations and cause investors to lose confidence in our reported financial information, which in turn could cause the trading price of our common stock to decline.
  • Changes in our effective income tax rate could adversely affect our profitability. Our ability to utilize our net operating loss carryforwards and certain other tax attributes may be limited.
  • Earthquakes or other natural or man-made disasters and business interruptions could adversely affect our business.
  • We are subject to the risks of securities and related litigation, which may expose us to substantial liabilities and could seriously harm our business.
Management Discussion
  • Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations
  • We are a biopharmaceutical company, with a primary strategy comprised of acquiring, developing, and commercializing novel and targeted oncology therapies. Our in-house development organization includes clinical development, regulatory, quality and data management. We continue to build out our commercial and marketing capabilities to prepare for the launch of ROLONTIS.
  • •ROLONTIS, a novel long-acting G-CSF for chemotherapy-induced neutropenia which is under review by the FDA. On October 26, 2020, the Company announced that the FDA had deferred action on the BLA for ROLONTIS due to the inability to conduct an inspection of our third-party manufacturing facility in South Korea as a result of COVID-19 related travel restrictions. In March 2021, the FDA scheduled the pre-approval inspection of the Hanmi manufacturing facility for May 2021;
Content analysis
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