Investment Thesis Summary
Spectrum Pharmaceuticals (NASDAQ:SPPI) has seen a round-trip of sorts in its stock price over the past three years. After surging from $5.00/share to over $20.00/share, it has since come back down to the below-$10.00/share range. The upward movement was caused by the incredible early results seen by lead candidate poziotinib in exon 20 mutant NSCLC patients – a very hard to treat group. While updated data readouts saw the initial ORR of 60%+ come down and settle at 40%, this is still a dramatic improvement over the poor prognosis that