Spectrum Pharmaceutecals Inc (SPPI)

[dcaf7]

Armistice Capital Now Owns 8.37% of Spectrum Pharmaceuticals (SPPI).
2023-02-14 18:31
Fintel reports that Armistice Capital has filed a 13G/A form with the SEC disclosing ownership of 17.00MM shares of Spectrum Pharmaceuticals, Inc. (SPPI). This represents 8.37% of the company.

In their previous filing dated February 15, 2022 they reported 9.67MM shares and 5.90% of the company, an increase in shares of 75.88% and an increase in total ownership of 2.47% (calculated as current - previous percent ownership).

The projected annual revenue for Spectrum Pharmaceuticals is $46MM, a decrease of 57.97%. The projected annual EPS is -$0.26.
https://fintel.io/news/armistice-capital-now-owns-837-of-spectrum-pharmaceuticals-sppi-858

Wonder, why a decrease of 58%? Were they projecting $100M? Is it about lost Poziotinib revenue?