Spectrum Pharmaceuticals, Inc. gets FDA OK on investigational drug
Shares of Spectrum Pharmaceuticals, Inc. (Nasdaq: SPPI) got a boost this morning after the biopharmaceutical company announced that the US Food and Drug Administration has cleared its investigational new drug application for the use of SPI-1620 in patients with recurrent or progressive carcinoma.
According to Spectrum, SPI-1620 is being developed as an adjunct to chemotherapy. SPI-1620 is a highly selective endothelin-B agonist that has shown in experimental animal models a “transient and selective increase in blood flow” to tumors by over 300%. In testing, the drug also increased delivery of anticancer drugs to the tumor while essentially sparing normal tissues and organs, increasing the effectiveness of the drug.
Shares of Spectrum climbed 6.25%, or $0.25, to $4.25 just before the opening bell.
