NEW YORK, NY / ACCESSWIRE / January 30, 2023 / Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Spectrum Pharmaceuticals, Inc. ("Spectrum" or the "Company") (NASDAQ:SPPI) and certain of its officers, on behalf of all persons and entities that purchased, or otherwise acquired Spectrum common stock between December 6, 2021 through September 22, 2022, inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: www.bgandg.com/sppi.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws.
The Complaint alleges that Defendants were conducting a phase 2 clinical trial called ZENITH20. The ZENITH20 trial was an ongoing, multicenter, multi-cohort, open-label, activity-estimating study evaluating the anti-tumor effects, safety, and tolerability of poziotinib, or "pozi", in patients with locally advanced or metastatic non small cell lung cancer ("NSCLC") that have certain mutations (HER2 exon 20 insertion mutations) and were previously treated with the standard of care. The Complaint further alleges that during the class period, Defendants represented the safety and efficacy data from the ZENITH20 trial were positive and that they had initiated a required confirmatory phase 3 study. However, unknown to investors, this was not true. The Complaint continues to allege that starting on September 20, 2022, before the market opened, investors began to learn the truth when the FDA Oncologic Drugs Advisory Committee ("ODAC") released a briefing document in anticipation of its September 22, 2022 meeting with Defendants to review poziotinib.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm's site: wwww.bgandg.com/sppior you may contact Peretz Bronstein, Esq. or his Law Clerk and Client Relations Manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. 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.
Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits. The firm has recovered hundreds of millions of dollars for investors nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
212-697-6484 | [email protected]
SOURCE: Bronstein, Gewirtz & Grossman, LLC