Spectrum Pharmaceuticals to Ring the NASDAQ Stock Market Opening Bell on Tuesday, September 28, 2010

IRVINE, Calif.--(BUSINESS WIRE)-- Spectrum Pharmaceuticals, Inc. (NasdaqGM:SPPI), a biotechnology company with fully integrated commercial and drug development operations with a primary focus in oncology, today announced that Rajesh C. Shrotriya, MD, Chairman of the Board, Chief Executive Officer, and President, will ring the Nasdaq Stock Market opening bell on Tuesday, September 28, 2010.

“We are excited to ring the Nasdaq opening bell on Tuesday, September 28, 2010,” said Dr. Shrotriya. “We have made great strides over the past 8 years since I was appointed CEO and we started Spectrum Pharmaceuticals with a focus in oncology. Today, we are proud that our two FDA approved drugs, ZEVALIN® and FUSILEV®, are on the market helping cancer patients. This year we expect to generate more than $30 million in product revenue. In addition, we expect two potential NDA filings with the FDA, belinostat in 2011 and apaziquone in 2012. We also have a broad and deep pipeline of promising drug candidates. With more than $90 million in cash and equivalents as of June 30, 2010, and approximately 150 employees engaged in developing and bringing novel cancer treatments to market, we look forward to helping more cancer patients in the years to come.”

A live webcast of the NASDAQ Opening Bell will also be available at: http://www.nasdaq.com/about/marketsitetowervideo.asx.

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 our business and its future, 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 around the world to assist us in the execution of our strategy, the safety and efficacy of ZEVALIN, FUSILEV, apaziquone, and belinostat, 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 trademark of Spectrum Pharmaceuticals, Inc., and TURNING INSIGHTS INTO HOPE™, BELINOSTAT™ and the Spectrum Pharmaceutical logos are trademarks owned by or licensed to Spectrum Pharmaceuticals, Inc.

© 2010 Spectrum Pharmaceuticals, Inc. All Rights Reserved.



CONTACT:

Spectrum Pharmaceuticals, Inc.
Paul Arndt
Senior Manager, Investor Relations
949-788-6700 x216

KEYWORDS:   United States  North America  California

INDUSTRY KEYWORDS:   Health  Biotechnology  Oncology  Pharmaceutical  Research  Science

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