NEW YORK, Dec. 9, 2022 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Spectrum Pharmaceuticals, Inc. (NASDAQ: SPPI).
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This lawsuit is on behalf of all purchasers of Spectrum Pharmaceuticals, Inc. common stock during the period December 6, 2021 through September 22, 2022, inclusive.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until February 3, 2023 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to the filed complaint, defendants were conducting a phase 2 clinical trial called ZENITH20, which was an ongoing, multicenter, multi-cohort, open-label, activity-estimating study evaluating the anti-tumor effects, safety, and tolerability of poziotinib in patients with locally advanced or metastatic non-small cell lung cancer that have certain mutations and were previously treated with the standard of care. Although defendants represented that the safety and efficacy data from the ZENITH20 trial were positive and that they had initiated a required confirmatory phase 3 study, on September 20, 2022, a briefing document from the United States Food and Drug Administration Oncologic Drugs Advisory Committee disclosed not only negative data on the safety and efficacy of poziotinib, but also a failure by the Company to enroll any patients in a required phase 3 confirmatory trial.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
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