October 26, 2015 (Shareholders Foundation) - An investigation on behalf of investors of Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) shares over potential securities laws violations by Spectrum Pharmaceuticals and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) concerning whether a series of statements by Spectrum Pharmaceuticals regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Spectrum Pharmaceuticals, Inc. reported that its annual Total Revenue declined from $267.71 million in 2012 to $155.85 million in 2013 and that its Net Income fell from $94.20 million to a Net Loss of $62.13 million.
Shares of Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) declined from $9.88 per share in early 2014 to $6.74 per share in April 2014.

On March 12, 2013, Spectrum Pharmaceuticals, Inc. commented on anticipated first quarter performance and updated its 2013 outlook for the Company. Spectrum Pharmaceuticals, Inc. said that based upon recent communications with customers it anticipates a change in ordering patterns of FUSILEV following the recent stabilization of the folate analog market. Spectrum Pharmaceuticals, Inc. said it expects that FUSILEV sales will be approximately $10 to $15 million for the first quarter of the year, and approximately $80 to $90 million for the 2013 fiscal year. Furthermore, Spectrum Pharmaceuticals, Inc. said that it anticipates total company revenues in the range of $160 to $180 million for the full-year 2013.

On March 14, 2014, a lawsuit was filed against Spectrum Pharmaceuticals, Inc over alleged securities laws violations. The plaintiff claimed that between August 8, 2012 and March 12, 2013 defendants allegedly continually dismissed concerns that sales of FUSILEV would be adversely affected by increased supplies of leucovorin and allegedly concealed the impact that the increased availability of leucovorin would have on FUSILEV sales and as a result of defendants statements, Spectrum Pharmaceuticals Incs stock traded at artificially inflated prices between August 8, 2012 and March 12, 2013, reaching a high of $13.05 per share on September 18, 2012.

Spectrum Pharmaceuticals, Inc. reported that its annual Total Revenue increased from $155.85 million in 2013 to $186.83 million in 2014 and that its Net Loss declined from $62.13 million in 2013 to $45.72 million in 2014.

On October 23, 2015, Spectrum Pharmaceuticals, Inc announced that it has received a Complete Response Letter from the U.S. Food and Drug Administration (FDA). Spectrum Pharmaceuticals, Incsaid that in the letter, the FDA did not identify any clinical deficiency in Spectrum's NDA package.

Shares of Spectrum Pharmaceuticals, Inc (NASDAQ:SPPI) declined on October 23, 2015 to as low as $4.89 per share.