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Spectrum Pharmaceuticals, Inc. (SPPI)

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1.3700-0.2100 (-13.29%)
At close: 04:00PM EST
1.4600 +0.09 (+6.57%)
After hours: 07:45PM EST
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  • r
    It’s been a while. Thought I’d check in.

    Let’s get the numbers over with. This week, SPPI took a step in the right direction in one sense, and continued in the wrong direction in another. In terms of stock price, the stock took a huge hit this week, plunging 32 cents or 18.9% to close at $1.37 (that’s $1.01 below my last report on 8/28). YTD, the loss is now 59.6%. The better news is the Board finally wised up and shook up management. Let’s hope it’s not too little too late.

    The sector and market were not helpful. The NAS was up 2 out of 5 sessions, but managed to lose 2.62%. Its gain on the year is now 17.5% (only 0.3% below my last missive).

    The DOW did slightly better, sliding 0.91%. Its 2021 gain now lags further behind the NAS at 13.7% (three months ago, the gain was 16.6%).

    BA has been struggling of late. Its tally for the year is a loss of 6.98%.

    My bio indexes indicated a “risk off” posture. The BTK fell 3.21%, and it gets worse; the IBB was a step worse, down 4.2%; the XBI was the Biggest Loser, tumbling 6.21%! The conservative XLV was relatively unscathed with a loss of 1.21%.

    The VXX, which has struggled of late, had a gain of 6.88%. It closed the week at $27.96.

    I’m not going to bother with a YoY comparison for SPPI; too depressing.

    Here are the daily ranges from this week:

    M 1.54-1.74
    T 1.53-1.63
    W 1.49-1.81
    Th 1.51-1.72
    F 1.35-1.58

    And from last week:

    M 1.69-1.80
    T 1.67-1.78
    W 1.69-1.80
    Th Thanksgiving
    F 1.67-1.80

    We continue to prove the old E.F. Hutton commercial correct. If we longs ever make money on this investment, we’re going to have to EARN it.

    Obviously, it’s too early to tell if the management change will prove beneficial. It might have been nice to bring in a new person, but that might not have been an option – we just don’t know.

    Unfortunately, I am pretty sure of one thing: tax loss selling is not over yet. It usually continues until about mid-month, if memory serves. So right now, I think the stock price will go down more before it goes up. BOY, do I hope I’m wrong!

    As I mentioned last week, I have been adding to my position at these levels. Of course, on Wednesday, when the price was surging on huge volume, I added at $1.775. Just a terribly timed trade.

    And now we may see even better “bargains”. The stock set 52-week (all time?) trading lows in 4 of 5 sessions this week, including Friday, so the first order of business is to stop that nonsense.

    After that, we might see a little bounce. But the big bounce will not come until the market sees REAL progress on Pozi or Rolontis. We now live in a “show me” state of existence.

    Enjoy the mild weather. Decorate your home if you are so inclined. Enjoy the winter festival your family observes, and the company of those you love.

  • d
    Interesting, FDA has a database of FOIA requests. In November updates you can find who requested Rolontis CRL documents. Entry 2021-7781 says "I am requesting a copy of the Complete Response Letter issued to Spectrum Pharmaceuticals for Rolontis (eflapegrastim), date of issue on or about 6 August 2021". And the requestor name is Amgen. So, Amgen is watching.
  • T
    For those finally fed up with SPPI. This past 9 months has been horrendous for almost all biotech stocks. I watch closely to 40 oncology biotechs and it's hard to find one that is not down substantially. That includes the ones I own. That said I do not focus on the PPS, I focus on DD.

    While the PPS does not show it, APTO has made very significant progress advancing it's drug Luxeptinib and had just acquired rights to a very promising drug 239. I do not tell people to buy or sell any stock. I give my opinions about stocks. I was right for the past several years when I argued that SPPI was under bad management, I was right when I said TGTX was an MS play not an oncology play (yes OUCH go lucky with the bounce on U2 data). I strongly recommend you do serious DD on APTO.

    I have ZERO to gain if you do or do not take my advise. I am just trying to be helpful to those on this board that I have watch suffer this fiasco.

  • d
    Full data of Cohort 2 is published, "Poziotinib in Non–Small-Cell Lung Cancer Harboring HER2 Exon 20 Insertion Mutations After Prior Therapies: ZENITH20-2 Trial." You can find a detailed swimmer plot with all dose reductions, dose interruptions, mutations, time to response etc there. Forest plot is also informative.
    One thing to keep in mind is that "72.2% of patients had tumors with Y772_A775dupYVMA and demonstrated an ORR of 20.0%". Possibly, it is the reason why Lebel wants to submit a BID data.
  • S
    Sure funny how my post regarding SPPI to participate in JMP Sec. Hematology & Oncology Summit Tues., Dec. 7. A virtual presentation is scheduled for Tues., Dec. 7 at 2:40 pm ET. A live webcast of the presentation will be available from the Investor Relations section of their website shortly after the event keeps disappearing!!
  • E
    Eric Vajentic
    I see the market is not impressed by one ex-Amgen salesman being replaced by another ex-Amgen salesmen, overseen by a board led by yet another ex-Amgen salesman.
  • G
    JT had to go. I'm not defending the appointment of Riga, but did JT shut down things he wanted to do that caused the current issues? I also wonder where we would be if they kept Raj in charge? JT has been a very expensive disaster. He hit the lottery. Us shareholders--not so much.
  • V
    Don't want to jinx it! Impressed the way it is fighting back!

    Again 80% owned by funds. and I see some of them might be doubling down after taking profits from the big stocks!
  • d
    Tom Riga? Is it for real? Why can't they find someone outside of Spectrum?
  • K
    These changes to management team may be related to a delay of poziotinib filing ?
  • J
  • P
    What will Tom do to make a difference?
    Tom call Elizabeth over at Beyondspring, you must know the FDA likes their drug Plinabulin but they want a larger trial done, in this country. All you have to do is realize how Spectrum and Beyondspring can knock Amgen clean out of the water. Work together and you could have an approved combo of Rolontis and Plinabulin in under a year and a half with a small investment of trials you both have experienced.
    Please don't hesitate call tomorrow!
    Billions and billions of dollars!
  • J
    Armistice and state St are hedge funds, hopefully they have been doing the buying of late. Can be sure they bod make the change, which is a good thing. JT still has to put out NDA. I'm sure his options depend on it. I think we'll be up mid 2s by end of the year
  • d
    Good paper about two patients with NSCLC caused by HER2 mutations. One of them is on Poziotinib. It also explains a difference between HER2+ (or HER2 positive, or HER2 amplified) and HER2 mutated cancers.
  • V
    Approximately 80% Institutions & MFs Ownership (as per Fidelity)

    Am I missing something about SPPI ? Institution ownership has gone up (including selling and buying) in the last quarter.

    I just got in! I thinking this can easily ride up to $3.00 by Jan 22
  • S
    What is shows is BOD faced pressure to make a move, its just like firing the coach in football. They and the market were ready for new leadership. It comes at a good time imo, stock was hitting 52-week low and this is on the back of 2 NDA filings coming up. What better way to turn the page. Bravo BOD
  • j
    spectrum does everything to get the sp up so they can cash more at the insider sellings at the upcomming tax sales in december
  • d
    Now SABC abstract is available, "Distinct HER2 allele specific therapeutic response and preclinical efficacy of poziotinib in metastatic ER+ HER2 mutant breast cancer"
    The authors compared Neratinib and Poziotinib in animal xenograft models with HER2 mutations.
    Here is what they found. "Three clinically relevant in vivo models including ILC HER2/L755S Mammary INtraDuctal (MIND) xenografts, IDC HER2/L755S fat pad xenografts, and IDC HCI-003 (an ER+ patient-derived xenograft (PDX) naturally harboring the exon 20 activating HER2G778_P780 dup) exhibit fulvestrant and neratinib resistance and lung and ovary metastases. In contrast, however, the pan-HER drug poziotinib does potently inhibit tumor growth and organ-specific metastasis".
  • D
    PPS is raising after the announcement of CEO retirement. It proves JT was a huge issue.
  • n
    I feel the pain

    Many of us who were heavily invested in SPPI were also invested in TGTX. I had the highest number of shares of SPPI
    and so paid the highest price . The bigger they come harder they fall. I had my eye on TGTX but was getting ready to invest
    in a day or two but did not. It took a huge hit today. I refuse to write in TGTX board because I feel their pain and it is rude to
    do so. It hurt us big time when people from other board rubbed on us long . It hurt bad . I stopped writing on This board
    because along with me many other longs were hurt and I feel bad for me losing so much and others who also lost and we
    the longs hurt ourself and others in this board as we followed each other . The reason I write here today is for members in this board
    to look hard on TGTX and give your opinion at what stock price we can get in so may be finally we balance some of the wrong done to us all longs
    in SPPI. I know Ouch was in TGTX took it from $6 to $55. I am sure he left while stock was hot . May be the unfortunate fate of TGTX may give us an entry point
    May be we longs own it to each other to balance part of huge loss we encountered in SPPI.
    Finally I am free from SPPI took tax write off and hold a small position but don’t think there is anything left here to gain or ease our pain !!