Spectrum Pharma Q2 revenue -30%, product sales -24%; stock +5% after hours

Spectrum Pharmaceuticals (NASDAQ:SPPI) Q2 results ($M): Revenues: 24.2 (-29.4%); product sales: 23.8 (-23.7%).

Net income: 13.7 (+164.1%); non-GAAP net loss: (21.6) (-151.2%); EPS: 0.13 (+148.1%); non-GAAP loss/share: (0.21) ( -90.9%).

Presentation of Phase 2 data on poziotinib in NSCLC, including EGFR and HER2 patients with exon 20 mutations on September 24 at World Conference on Lung Cancer in Toronto. Company considers it a pivotal study to support registration.

Pre-BLA meeting with FDA this quarter for ROLONTIS (eflapegrastim). Marketing application to be filed in Q4.

2018 guidance: Revenues: $95M – 115M. Cash and equivalents should be sufficient to fund operations into 2020.

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