SPPI - Spectrum Pharma announces resignation of CFO

The shares of Spectrum Pharmaceuticals (NASDAQ:SPPI) are trading marginally lower in the pre-market on Wednesday after the commercial-stage biotech company announced the resignation of its Chief Financial Officer Kurt Gustafson. According to a regulatory filing, Mr. Gustafson has notified the company of his decision on Feb. 23, indicating his resignation to pursue other professional opportunities. However, he will assist the company through Mar. 18 during the transition of his duties. The selection process for a permanent replacement has already got underway, Spectrum (SPPI) said, adding that the departure of Mr. Gustafson is not related to any disagreement with the company or its auditors. The resignation of Mr. Gustafson followed a major corporate restructuring initiative announced by Spectrum (SPPI) early this year with plans to lay off 30% of its workforce and reprioritize its late-stage clinical programs.

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Spectrum Pharma announces resignation of CFO