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Spectrum Pharma: 2Q Earnings Snapshot

HENDERSON, Nev. (AP) _ Spectrum Pharmaceuticals Inc. (SPPI) on Thursday reported second-quarter net income of $13.7 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Henderson, Nevada-based company said it had profit of 13 cents. Losses, adjusted for one-time gains and costs, came to 21 cents per share.

The biotechnology company posted revenue of $24.2 million in the period, missing Street forecasts. Three analysts surveyed by Zacks expected $28 million.

Spectrum Pharma shares have increased slightly more than 7 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $20.33, more than doubling in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SPPI at https://www.zacks.com/ap/SPPI