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Why Spectrum Pharmaceuticals Stock Is Crashing Today

TheMotleyFool

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Why Spectrum Pharmaceuticals Stock Is Crashing TodayPhoto, wide shot, wide-angle lens, Clinical research organization, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Michael Light: https://img.theapi.app/temp/c28f6640-54ba-4d2b-afbe-b5fd3b0ee19e.png

Shares of Spectrum Pharmaceuticals (NASDAQ: SPPI) were crashing 26.3% lower as of 11:14 a.m. EDT on Friday. The big decline came after the company announced that the U.S. Food and Drug Administration turned down approval of Rolontis in treating neutropenia in patients receiving cancer drugs that decrease bone marrow activity.

There's good news and bad news for Spectrum with the FDA's rejection of Rolontis. The bad news is obvious: Spectrum won't be able to market the drug as soon as it would like. The good news, though, is that it isn't the end of the road for Rolontis.

Image source: Getty Images.

Source Fool.com

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