SPPI Stock Forecast 2023: Up 14% After Quarter Results
SPPI Stock Forecast: The Average SPPI Stock Forecast for the next 12 months is $4.8
Latest Stock Price
SPPI Stock Forecast: Recent Performance
- Last 5 Days – 9.7%
- Last 1 Month – 21.2%
- YTD – (-70.3%)
SPPI Stock Forecast: Latest News
- Spectrum’s commercial sale of Rolvedon: Spectrum pharmaceuticals has announced the commercial sale of Rolvedon injection. Rolvedon is used to decrease the incidence of infection, as showed by febrile neutropenia, in adult patients with non-myeloid malignancies receiving myelosuppressive anti-cancer drugs which have a clinically significant incidence of febrile neutropenia. This drug has received U.S. approval and is ready for commercial sale. The market for this drug was expected to be $2 billion. The stock price soared 13% after this news.
- Spectrum agreement for a loan up to $65 million: Spectrum has entered into a 5-year financial debt agreement with SLR Capital Partners (a credit investment manager company). Spectrum will be provided a term loan of up to $65 million, where $30 million funding was completed. The company intends to use this funding to optimize the commercial launch of Rolvedon injection and to support the company’s operations through 2024.
SPPI Stock Forecast: Latest Video
SPPI Stock Forecast: Q3 Results
- The company’s research and development expenses were reported as $13.3 million, down 36% Y-o-Y.
- Operating expenses decreased by 34.7% Y-o-Y and were reported as $21.6 million.
- The company’s operating income decreased by 34.7% over a year and was reported as -$21.6 million.
- Earnings from continuing operations were -$21.9 million, down 33.7% Y-o-Y.
- Its net income was -$21.9 million, down 33.7% Y-o-Y.
- Diluted earnings per share (EPS) were declared as -$0.12, down 42.2% Y-o-Y.
- Its EBIT was declared as -$21.6 million, down 34.7% Y-o-Y.
- Forward 1-year P/E ratio is -$0.84.
- The company reported that the available cash is $100.3 million which can be used for the ROLVEDON commercial launch and supports the company’s operations through 2024.
SPPI Stock Forecast: Price Prediction for the next 12 months
|The average forecast for the next 12 months||$4.8|
SPPI Stock Forecast: Conclusion
Spectrum Pharmaceuticals company has released its quarterly earnings recently and its operating income was negative. The company is not having any revenues yet. The stock plunged a few months back in September 2022 when its drug poziotinib which is used for treating non-small cell lung cancer was rejected by the FDA, but the stock has been performing well since the announcement of the commercial sale of Rolvedon. So, its present focus is on Rolvedon’s launch and it is also receiving funding for its operations and Rolvedon’s launch.
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