Spectrum Pharmaceuticals Investigated by Block & Leviton LLP Following FDA's Denial of Spectrum's New Drug Application for EV...

BOSTON, Oct. 23, 2015 /PRNewswire/ -- Shares in Spectrum Pharmaceuticals ("Spectrum" or the "Company") (NASDAQ: SPPI) have plunged over 20% today after the company announced that it received a Complete Response Letter from the United States Food and Drug Administration ("FDA") related to the company's EVOMELA injection drug. An FDA Complete Response Letter informs companies that the FDA cannot approve a new drug application as submitted.

In the months prior to today's news, the Company and its officers made numerous statements about EVOMELA, including statements reflecting the company's belief that the pending application before the FDA would be successful, and that EVOMELA would contribute to Spectrum's revenue in late 2015. As such, the FDA's Complete Response Letter came as a complete surprise to investors.

Block & Leviton LLP is investigating the Company and certain of its officers and directors to learn the facts behind the company's EVOMELA application, its statements about the drug's approval process, and the FDA's subsequent rejection of the company's new drug application. The firm is also investigating whether any insiders at Spectrum profited from alleged misstatements made about EVOMELA in the weeks and months prior to today's announcement.

If you purchased Spectrum stock between August 6, 2015 and October 22, 2015 and have questions about your legal rights, or if you have any information relevant to this investigation, please contract attorney Jake Walker of Block & Leviton LLP at [phone] or [e-mail]. Confidentiality for any whistleblowers or other persons with information relevant to the investigation is assured.

Block & Leviton represents investors for violations of securities laws as well as whistleblowing employees who provide information about their employers' violations of law throughout the country. The firm's lawyers have collectively been prosecuting securities cases for over 70 years, have recovered billions of dollars for investors and represent some of the nation's largest institutional investors.

This notice may constitute attorney advertising. 

Contact:         
BLOCK & LEVITON LLP
Jake Walker [e-mail]
[phone]

 

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SOURCE Block & Leviton LLP

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