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Spectrum Pharma reports 4Q loss

HENDERSON, Nev. (AP) _ Spectrum Pharmaceuticals Inc. (SPPI) on Wednesday reported a loss of $17.4 million in its fourth quarter.

On a per-share basis, the Henderson, Nevada-based company said it had a loss of 22 cents.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 26 cents per share.

The biotechnology company posted revenue of $35.2 million in the period.

For the year, the company reported that its loss widened to $68.5 million, or 94 cents per share. Revenue was reported as $146.4 million.

Spectrum Pharma shares have increased 42 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $6.28, a rise of 24 percent 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


Keywords: Spectrum Pharmaceuticals, Earnings Report