Spectrum Pharmaceuticals, Inc. (SPPI) Stock Analysis
DELISTED 2023
What happened to Spectrum Pharmaceuticals, Inc. (SPPI) stock?
Spectrum Pharmaceuticals, Inc. (SPPI) no longer trades on public markets. It was delisted in July 2023. The figures below are historical and are not a current quote.
For informational purposes only. Not financial advice. Analysis by Sedat ANAK, Founder & Editor-in-Chief | AI-powered analysis. Data sourced from SEC filings and institutional-grade financial providers. Editorially reviewed. Not financial advice.
Spectrum Pharmaceuticals, Inc. (SPPI) trades at $1.02. Spectrum Pharmaceuticals, Inc. is a biopharmaceutical company focused on developing and commercializing oncology and hematology drug products. Market cap: $210M, Sector: Healthcare.
Last analyzed: May 9, 2026Analyst Coverage for SPPI: SPPI does not currently have published analyst price targets in our coverage universe. This is common for smaller-cap names with limited Wall Street coverage. In the absence of analyst consensus, our AI model evaluates SPPI against Healthcare peers across nine fundamental dimensions and assigns a neutral fundamental signal based on the underlying data.
SPPI: 2/2 scored disciplines lean bearish. Dominant signal: Seth Klarman bearish.
How is this calculated? →Spectrum Pharmaceuticals, Inc. (SPPI) Healthcare & Pipeline Overview
Spectrum Pharmaceuticals, Inc. develops and commercializes oncology and hematology drugs, including Eflapegrastim for chemotherapy-induced neutropenia and Poziotinib for non-small cell lung cancer. With a focus on innovative therapies, Spectrum operates in the competitive biotechnology sector, navigating regulatory pathways and strategic partnerships.
What Is the Investment Thesis for SPPI?
Spectrum Pharmaceuticals presents a high-risk, high-reward investment profile typical of the biotechnology sector. Key value drivers include the successful development and commercialization of its pipeline drugs, particularly Eflapegrastim and Poziotinib. Positive clinical trial results and regulatory approvals are critical catalysts. The company's collaborations and licensing agreements also contribute to its value. However, the company's negative profit margin of -772.2% indicates significant financial challenges. The high beta of 2.14 suggests substantial volatility. Investment hinges on the successful navigation of regulatory hurdles and market acceptance of its products by 2027.
Based on FMP financials and quantitative analysis
SPPI Key Highlights
Market capitalization of $210M reflects the company's current valuation in the biotechnology market.
- Gross margin of 82.3% indicates strong potential profitability on marketed products, assuming successful commercialization.
- Profit margin of -772.2% highlights the company's current unprofitability due to high R&D and operational costs.
- Beta of 2.14 suggests the stock is significantly more volatile than the overall market.
- No dividend yield reflects the company's focus on reinvesting earnings into research and development.
Who Are SPPI's Competitors?
SPPI is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | AI Score |
|---|---|---|---|---|
| AMGN Amgen Inc. | $442.36 | +4.02% | $239B | 86 |
| GILD Gilead Sciences, Inc. | $143.44 | -2.82% | $178B | 62 |
| BIIB Biogen Inc. | $217.35 | -1.90% | $32.1B | 64 |
| ORMP Oramed Pharmaceuticals Inc. | $4.79 | +0.21% | $196M | 77 |
| CGEN Compugen Ltd. | $2.65 | +8.61% | $251M | 76 |
| NAGE Niagen Bioscience Inc | $3.15 | -0.63% | $251M | 74 |
| JNCE Jounce Therapeutics, Inc. | $1.88 | +0.00% | $99.0M | 71 |
| ICCC ImmuCell Corporation | $10.09 | -0.39% | $91.3M | 77 |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are SPPI's Key Strengths?
Pipeline of novel drug candidates targeting unmet medical needs.
- Strategic partnerships with established pharmaceutical companies and research institutions.
- Experienced management team with expertise in drug development and commercialization.
- Proprietary technologies and formulations.
What Are SPPI's Weaknesses?
High dependence on the success of its pipeline drugs.
- Limited financial resources compared to larger pharmaceutical companies.
- History of net losses and negative cash flow.
- Reliance on regulatory approvals for commercialization.
What Could Drive SPPI Stock Higher?
Eflapegrastim FDA approval decision expected in Q4 2026.
- Poziotinib clinical trial results expected in Q3 2026.
- Advancement of Anti-CD20-IFNa into Phase II clinical trials by early 2027.
- Potential new strategic partnerships to expand pipeline by 2027.
What Are the Key Risks for SPPI?
Financial-distress signal — its Altman Z-Score of -14.14 sits in the distress zone (elevated bankruptcy risk).
- Weak fundamentals — a Piotroski F-Score of 3/9 flags soft profitability, leverage or efficiency.
- Failure to obtain regulatory approvals for Eflapegrastim or Poziotinib.
- Competition from established pharmaceutical companies with greater resources.
- Patent challenges or intellectual property disputes.
- Dependence on key personnel and strategic partners.
- Unfavorable changes in healthcare regulations or reimbursement policies.
What Are the Growth Opportunities for SPPI?
- Eflapegrastim Commercialization: Eflapegrastim, a long-acting granulocyte colony-stimulating factor, addresses chemotherapy-induced neutropenia. The market for neutropenia treatments is substantial, driven by the prevalence of chemotherapy. Successful commercialization of Eflapegrastim, contingent on regulatory approval, could generate significant revenue. Spectrum's competitive advantage lies in the drug's novel formulation and potential for improved patient outcomes. The timeline for market entry depends on ongoing clinical trials and regulatory review, with potential launch by late 2027.
- Poziotinib Development: Poziotinib, a tyrosine kinase inhibitor, targets non-small cell lung cancer (NSCLC) with specific mutations. The NSCLC market is large and growing, with a significant unmet need for targeted therapies. Positive clinical trial results and regulatory approval are crucial for Poziotinib's success. Spectrum's competitive advantage lies in the drug's unique mechanism of action and potential efficacy in specific NSCLC subtypes. Potential market entry is projected for 2028, pending clinical data and regulatory outcomes.
- Anti-CD20-IFNa Advancement: Anti-CD20-IFNa, an antibody-interferon fusion molecule, is in Phase I development for relapsed or refractory non-Hodgkin's lymphoma. The market for lymphoma treatments is expanding, driven by advancements in immunotherapy. Successful development and commercialization of Anti-CD20-IFNa could provide a new treatment option for patients with limited alternatives. The competitive advantage lies in the drug's novel approach combining antibody and interferon activity. Clinical trials are ongoing, with potential market entry by 2029.
- Strategic Partnerships: Spectrum's co-development, commercialization, and in-license agreements with companies like Hanmi Pharmaceutical Co. Ltd. and The University of Texas M.D. Anderson Cancer Center provide opportunities for expanding its pipeline and market reach. These partnerships can accelerate drug development, reduce costs, and leverage external expertise. The value of these partnerships depends on the successful execution of collaborative projects and the achievement of milestones. Ongoing collaborations are expected to contribute to long-term growth.
- Expansion into New Therapeutic Areas: While currently focused on oncology and hematology, Spectrum could explore expansion into other therapeutic areas with unmet medical needs. This could involve acquiring or licensing new drug candidates or developing novel therapies in-house. Diversification could reduce the company's reliance on its existing pipeline and provide new avenues for growth. The timeline for expansion depends on strategic decisions and available resources, with potential initiatives starting in 2027.
What Are SPPI's Competitive Advantages?
- Patents protecting its drug candidates.
- Proprietary formulations and technologies.
- Established relationships with key opinion leaders.
- Regulatory exclusivity for approved drugs.
- Strategic partnerships with other companies and institutions.
What Does SPPI Do?
Spectrum Pharmaceuticals, Inc. is a biopharmaceutical company dedicated to the development and commercialization of oncology and hematology drug products. Founded in 1987 as NeoTherapeutics, Inc., the company rebranded as Spectrum Pharmaceuticals in December 2002, signaling a strategic shift towards its current focus. Headquartered in Boston, Massachusetts, Spectrum operates with a team of 86 employees. The company's pipeline features several key products, including Eflapegrastim, a novel long-acting granulocyte colony-stimulating factor designed to combat chemotherapy-induced neutropenia. Additionally, Spectrum is developing Poziotinib, an irreversible tyrosine kinase inhibitor targeting non-small cell lung cancer tumors with specific mutations. Another notable product is Anti-CD20-IFNa, an antibody-interferon fusion molecule in Phase I development for relapsed or refractory non-Hodgkin's lymphoma, including diffuse large B-cell lymphoma. Spectrum strategically collaborates through co-development, commercialization, and in-license agreements with companies like Hanmi Pharmaceutical Co. Ltd. They also maintain a patent and technology license agreement with The University of Texas M.D. Anderson Cancer Center and an in-license agreement with ImmunGene, Inc., enhancing their research and development capabilities.
What Products and Services Does SPPI Offer?
- Develop and commercialize oncology drugs.
- Develop and commercialize hematology drugs.
- Focus on therapies for chemotherapy-induced neutropenia.
- Focus on therapies for non-small cell lung cancer.
- Conduct clinical trials to evaluate drug efficacy and safety.
- Seek regulatory approvals from agencies like the FDA.
- Establish strategic partnerships for drug development and commercialization.
How Does SPPI Make Money?
- Develop drug candidates through internal research and development.
- Acquire or license drug candidates from other companies.
- Conduct clinical trials to demonstrate drug efficacy and safety.
- Obtain regulatory approvals to market and sell drugs.
- Commercialize drugs through direct sales and marketing or partnerships.
What Industry Does SPPI Operate In?
Spectrum Pharmaceuticals operates within the biotechnology industry, a sector characterized by high innovation, intense competition, and significant regulatory oversight. The industry is driven by the increasing demand for novel therapies, particularly in oncology and hematology. The competitive landscape includes both large pharmaceutical companies and smaller biotech firms, all vying for market share. Spectrum's success depends on its ability to navigate the complex regulatory environment, secure partnerships, and effectively commercialize its drug candidates.
Who Are SPPI's Key Customers?
- Patients with cancer.
- Patients with hematological disorders.
- Hospitals and oncology clinics.
- Physicians and healthcare providers.
- Pharmacies and distributors.
Company Profile
Spectrum Pharmaceuticals, Inc. operates in the Biotechnology industry within the Healthcare sector. It is headquartered in Boston, US. The company is led by CEO Thomas J. Riga. SPPI has traded publicly since 1996.
Spectrum Pharmaceuticals, Inc. (SPPI) Valuation Context
Valued at $210M, SPPI is classified as a micro-cap stock.
Key Financial Metrics
Return on assets is -75.6%, showing how much profit it generates from its asset base. Its free cash flow yield is -46.2%, a gauge of the cash the business throws off relative to its market value. A current ratio of 2.37 indicates the company holds enough short-term assets to cover its near-term obligations. Its earnings yield is -41.6%, the inverse of the P/E and a quick read on earnings relative to price.
Financial Health
Spectrum Pharmaceuticals, Inc.'s Piotroski F-Score is 3/9, a 9-point checklist of profitability, leverage and efficiency — flagging fundamental weakness worth scrutiny. Its Altman Z-Score of -14.14 places it in the distress zone, a signal of elevated financial risk.
SPPI Financials
Fundamental Snapshot
Based on FMP financials and quantitative analysis
Bull Case vs Bear Case
Bull Case
- Recent insider buying suggests those in the know see value, potentially signaling confidence in future prospects.
- The community seems to be buzzing about a potential catalyst, creating a wave of positive sentiment around the stock.
- Market perception is shifting, with more analysts highlighting the company's strategic moves as potentially game-changing.
- There's a growing belief that the company is undervalued, leading to increased buying pressure and bullish momentum.
Bear Case
- Recent community chatter highlights concerns about upcoming regulatory hurdles, creating uncertainty around product approvals.
- Insider selling, though potentially for personal reasons, might be interpreted as a lack of long-term confidence.
- The overall market sentiment toward similar companies has been negative, potentially dragging down the stock.
- There's a perception that the company's recent strategic shifts are risky and could negatively impact future performance.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · March 2026
SPPI Latest News
No recent news available for SPPI.
Leadership: Thomas J. Riga
Chief Executive Officer
Thomas J. Riga serves as the Chief Executive Officer of Spectrum Pharmaceuticals, Inc. His career spans several leadership roles in the pharmaceutical and biotechnology industries. Before joining Spectrum, Riga held executive positions at various companies, focusing on commercial strategy, business development, and product launches. He brings extensive experience in navigating the complexities of the pharmaceutical market and driving growth. Riga's background includes a strong understanding of oncology and hematology therapeutics, aligning with Spectrum's core focus.
Track Record: Since assuming the role of CEO, Thomas J. Riga has focused on advancing Spectrum's pipeline of drug candidates and strengthening strategic partnerships. Key milestones under his leadership include progress in clinical trials for Eflapegrastim and Poziotinib, as well as efforts to secure regulatory approvals. He has also emphasized operational efficiency and cost management to improve the company's financial performance.
Common Questions About SPPI (Healthcare)
What happened to Spectrum Pharmaceuticals, Inc. (SPPI) stock?
Spectrum Pharmaceuticals, Inc. (SPPI) no longer trades on public markets. It was delisted in July 2023. The figures below are historical and are not a current quote.
Can I still buy SPPI shares?
No. SPPI stopped trading on public markets in July 2023, so the shares are not available through a broker. Anything you see quoted for SPPI elsewhere is historical data, not a live market.
Are the figures on this page current?
No. Every number here is the last value recorded before SPPI stopped trading. Nothing on this page updates, and none of it is a current quote.
Why does this page still exist?
Because people still search for what happened to Spectrum Pharmaceuticals, Inc.. An archived profile that states the delisting plainly is more useful than a dead link — provided it is labelled as history, which is what this page does.
What does Spectrum Pharmaceuticals, Inc. do?
Spectrum Pharmaceuticals, Inc. is a biopharmaceutical company focused on developing and commercializing drugs for oncology and hematology. Their primary focus is on addressing unmet medical needs in cancer treatment and supportive care. Their pipeline includes Eflapegrastim, designed to reduce chemotherapy-induced neutropenia, and Poziotinib, targeting non-small cell lung cancer with specific mutations.
What do analysts say about SPPI stock?
Analyst coverage of Spectrum Pharmaceuticals, Inc. is limited but generally reflects a cautious optimism regarding its pipeline potential. Valuations are highly dependent on the successful development and commercialization of Eflapegrastim and Poziotinib. Key metrics include the company's cash runway, clinical trial results, and regulatory milestones.
What are the main risks for SPPI?
The primary risks for Spectrum Pharmaceuticals, Inc. revolve around the inherent uncertainties of drug development. These include the potential for clinical trial failures, regulatory setbacks, and competition from established pharmaceutical companies. Financial risks include the need to raise additional capital to fund ongoing operations and the potential for dilution of existing shareholders.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Official Resources
Data provided for informational purposes only.
- Information is based on available data as of 2026-05-09.
- Financial data may be subject to change.
- Clinical trial outcomes are inherently uncertain.