Spectrum touts PhII cancer data, plans NDA

Shares of Spectrum Pharmaceuticals ($SPPI) surged on the news that its experimental injectable drug for blood cancer looked promising in a Phase II study. Acquired from Ligand in a 2013 pact, Spectrum says that Captisol-enabled melphalan met its primary endpoint evaluating the drug's safety and efficacy. The biotech said the Phase II study is a "pivotal" trial that puts it on track to file for an approval in the third quarter of this year. Release