SPPI Could Be Up On CEO Speech Today; Fusilev Pricing And Allos Purchase Key Topics

The CEO of Spectrum Pharmaceuticals (NASDAQ:SPPI) will present today in Southern California at an investor conference (12:00pm EST, webcast available at www.sppirx.com). In addition to reviewing the pipeline, Spectrum management is likely to defend against allegations that it recently cut its price on lead value driver, Fusilev, an intravenous cancer treatment. An article from theStreet.com published last week, made the allegations, using sales reported by the company and prescription trend data to calculate that Fusilev’s price had been cut by as much as 42% (see PropThink’s story last week). The morning of the article, Spectrum stated that the alleged price cut is “erroneous and grossly misrepresents the company’s Fusilev growth strategy.” Today company management is expected to address this subject again, and comments by the CEO could drive the shares higher given Fusilev’s strong performance.