Spectrum Pharmaceutecals Inc (SPPI)

[dcaf7]

H.C. Wainwright analyst Edward White says Spectrum Pharmaceuticals’ Q4 net sales of $10M dramatically beat the firm’s estimate of $3.0M. Rolvedon is a long-acting granulocyte colony stimulating factor intended to stimulate neutrophil production for the treatment of chemotherapy-induced neutropenia patients. The fact that Rolvedon is a novel product with reimbursement not tied to Neulasta and its biosimilars could enable it to gain a substantial market share over time, the analyst tells investors in a research note. The firm now estimates Rolvedon sales of $70.0M in 2023 compared to a prior estimate of $48.0M. It reiterates a Buy rating on the shares with a $4 price target.
$70M, if true, will possibly bring Spectrum close to profitability. Will definitely reduce cash burn substantially.