Spectrum Pharmaceuticals Selected to Be Listed on NASDAQ Global Select MarketSM

  • Shares to List on Global Select Market Effective January 3, 2011
  • Spectrum Is a Component of the NASDAQ Biotechnology Index, and the Russell 2000®, Russell 3000®, and Russell Global® Indexes
  • Anticipates NDA Filings for Belinostat and Apaziquone in 2011 and 2012, Respectively
  • Spectrum Currently Markets Two Anticancer Drugs – ZEVALIN® and FUSILEV®

IRVINE, Calif.--(BUSINESS WIRE)-- Spectrum Pharmaceuticals (NasdaqGM: SPPI), a biotechnology company with fully integrated commercial and drug development operations with a primary focus in oncology, announced today that effective January 3, 2011, it will begin trading on the NASDAQ Global Select Market. The NASDAQ Global Select Market is the highest NASDAQ listing tier based on financial and liquidity criteria. Prior to the effectiveness of this change in the New Year, shares of Spectrum Pharmaceuticals will continue to be traded on the NASDAQ Global Market.

"We are proud that we will now be listed on the NASDAQ Global Select Market, a market applying the most stringent financial listing standards in the world," said Rajesh C. Shrotriya, MD, Chairman of the Board of Directors, Chief Executive Officer, and President of Spectrum Pharmaceuticals. "We believe this reflects our commitment to leadership in the biopharmaceutical industry by providing cancer patients with new treatment options and investors with superior market quality.”

Beginning in July 2006, NASDAQ-listed companies were classified under three listing tiers – NASDAQ Global Select Market, NASDAQ Global Market, and NASDAQ Capital Market. These tiers each maintain rigorous listing and corporate governance standards, with NASDAQ Global Select Market being the most stringent.

About the NASDAQ Global SelectSM Market

The NASDAQ Global Select Market is for public companies that meet the highest listing standards in the world, with measures including market value, liquidity and earnings. Inclusion in the NASDAQ Global Select Market is a mark of achievement and stature for qualified companies. Listing on NASDAQ represents companies’ commitment to provide investors with superior market quality. Investors benefit not only from lower trading costs on NASDAQ but also by knowing that NASDAQ Global Select Market companies are models of leadership and have met the highest standards of any market in the world. Companies qualifying for the NASDAQ Global Select Market make up approximately one-third of NASDAQ listings and reflect the diversity of NASDAQ as a whole, in terms of market cap and across industry sectors. For more information, please visit www.nasdaq.com/GlobalSelect .

About NASDAQ OMX

The NASDAQ OMX Group, Inc. (Nasdaq: NDAQ) is the world's largest exchange company. It delivers trading, exchange technology and public company services across six continents, with approximately 3,600 listed companies. NASDAQ OMX offers multiple capital raising solutions to companies around the globe, including its U.S. listings market, NASDAQ OMX Nordic, NASDAQ OMX Baltic, NASDAQ OMX First North, and the U.S. 144A sector. The company offers trading across multiple asset classes including equities, derivatives, debt, commodities, structured products and exchange-traded funds. NASDAQ OMX technology supports the operations of over 70 exchanges, clearing organizations and central securities depositories in more than 50 countries. For more information, please visit www.nasdaq.com.

About Spectrum Pharmaceuticals

Spectrum Pharmaceuticals is a biotechnology company with fully integrated commercial and drug development operations with a primary focus in oncology. The Company’s strategy is comprised of acquiring, developing and commercializing a broad and diverse pipeline of late-stage clinical and commercial products. The Company markets two oncology drugs, FUSILEV and ZEVALIN and has two drugs, apaziquone and belinostat, in late stage development along with a diversified pipeline of novel drug candidates. The Company has assembled an integrated in-house scientific team, including clinical development, medical research, regulatory affairs, biostatistics and data management, formulation development, and has established a commercial infrastructure for the marketing of its drug products. The Company also leverages the expertise of its worldwide partners to assist in the execution of its strategy. For more information, please visit the Company’s website at www.sppirx.com.

Forward-looking statement – This press release may contain forward-looking statements regarding future events and the future performance of Spectrum Pharmaceuticals that involve risks and uncertainties that could cause actual results to differ materially. These statements include but are not limited to statements that relate to our business and its future, including certain company milestones, Spectrum's ability to identify, acquire, develop and commercialize a broad and diverse pipeline of late-stage clinical and commercial products, leveraging the expertise of partners and employees, around the world to assist us in the execution of our strategy, and any statements that relate to the intent, belief, plans or expectations of Spectrum or its management, or that are not a statement of historical fact. Risks that could cause actual results to differ include the possibility that our existing and new drug candidates, may not prove safe or effective, the possibility that our existing and new drug candidates may not receive approval from the FDA, and other regulatory agencies in a timely manner or at all, the possibility that our existing and new drug candidates, if approved, may not be more effective, safer or more cost efficient than competing drugs, the possibility that our efforts to acquire or in-license and develop additional drug candidates may fail, our lack of revenues, our limited marketing experience, our dependence on third parties for clinical trials, manufacturing, distribution and quality control and other risks that are described in further detail in the Company's reports filed with the Securities and Exchange Commission. We do not plan to update any such forward-looking statements and expressly disclaim any duty to update the information contained in this press release except as required by law.

SPECTRUM PHARMACEUTICALS, INC. ®, ZEVALIN®, and FUSILEV® are registered trademarks of Spectrum Pharmaceuticals, Inc. REDEFINING CANCER CARE™ and the Spectrum Pharmaceutical logos are trademarks owned by Spectrum Pharmaceuticals, Inc.

© 2010 Spectrum Pharmaceuticals, Inc. All Rights Reserved.



CONTACT:

Spectrum Pharmaceuticals, Inc.
Paul Arndt
Senior Manager, Investor Relations
949-788-6700 x 216

KEYWORDS:   United States  North America  California

INDUSTRY KEYWORDS:   Health  Biotechnology  Oncology  Pharmaceutical

MEDIA:

Logo
 Logo

Suggested Articles

Almirall and Iktos will use the latter's AI technology to design new compounds that tick multiple drug criteria boxes.

Pfizer’s 2017 spinout company SpringWorks has lost president and founder Lara Sullivan, M.D., who has moved over to Pyxis Oncology as its new chief.

In this week's EuroBiotech Report, Sanofi inks $2.5B Synthorx takeover and posts sutimlimab data, Roche shares bispecific results and more.