Spectrum Pharmaceuticals, Inc. (NASDAQ: SPPI) shares rose Tuesday morning as Bloomberg reported that the company has received a takeover interest and is weighing a potential sale.
The Bloomberg report did not elaborate on who the potential buyer would be.
Spectrum, based out of Henderson, Nevada, is also making news this week, in that it will hold a conference call this Friday to discuss the ROLONTIS Phase 3 ADVANCE study data being presented at Multinational Association of Supportive Care in Cancer (MASCC) 2018 annual meeting.
The call will feature a presentation from ADVANCE study lead investigator, Lee S. Schwartzberg, M.D., FACP Professor of Medicine and Division Chief, Hematology Oncology, The University of Tennessee Health Science Center, and Executive Director, UT/West Cancer Center.
Spectrum is a leading biotechnology company focused on acquiring, developing, and commercializing drug products, with a primary focus in hematology and oncology. Spectrum currently markets six hematology/oncology drugs, and has an advanced stage pipeline that has the potential to transform the company.
Spectrum's "strong track record for in-licensing and acquiring differentiated drugs, and expertise in clinical development have generated a robust, diversified, and growing pipeline of product candidates in advanced-stage Phase 2 and Phase 3 studies," according to the company website.
Spectrum jumped $2.25, or 11.9%, in mid-morning trade on Thursday, to $21.23.
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