2023-05-09 09:12:37 ET
- Spectrum Pharmaceuticals ( NASDAQ: SPPI ) rose ~10% Tuesday pre-market after the biopharmaceutical company said its Q1 net sales increased by 54% on a quarterly basis.
- SPPI's net sales for the quarter is $15.6M, compared to $10.1M in the previous quarter.
- Total cost of sales was $1.1M.
- Selling, general and administrative expenses increased by $4.1M to $14M from the prior-year quarter.
- Research and development expenses increased by $1.2M Y/Y to $5.4M.
- Net loss from continuing operations stood at $5.0M, or $0.02 per diluted share, compared to a net loss of $15.4M, or $0.09 per diluted share, last year.
- Cash, cash equivalents and marketable securities balance were ~$56.1M at the end of the quarter.
- The company confirmed its acquisition by Assertio Holdings ( NASDAQ: ASRT ).
- Source: Press Release
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Spectrum Pharmaceuticals rises as co. says its Q1 net sales up 54% Q/Q