Spectrum slides further as FDA panel votes against poziotinib approval
US biopharma Spectrum Pharmaceuticals (Nasdaq: SPPI) was 16% down during pre-market trading on Friday, exacerbating Tuesday’s 37% decline.
Tuesday’s drop was prompted by the publication of a damning US Food and Drug Administration (FDA) report on the company’s lung cancer prospect poziotinib ahead of Thursday’s meeting of the agency’s Oncologic Drugs Advisory Committee (ODAC).
"We plan to carefully evaluate our options for this program"Friday’s further losses are the result of the panel’s vote on poziotinib. The committee voted by nine to four that the current benefits of poziotinib did not outweigh its risks.
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