Levi & Korsinsky, LLP announces that an SPPI class action lawsuit has been filed on behalf of investors who purchased Spectrum Pharmaceuticals, Inc. (SPPI) securities between December 6, 2021, through September 22, 2022 For more on the SPPI Lawsuit please contact us today.
According to the Spectrum lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: 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-tumour 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 the 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 enrol any patients in a required phase 3 confirmatory trial.
If you suffered a loss in Spectrum you have until February 3, 2023, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
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New York, NY 10006
Tel: (212) 363-7500
Fax: (212) 363-7171