Spectrum Pharma restructuring will see 30% job cuts
Shares of US biotech Spectrum Pharmaceuticals (NasdaqGS: SPPI) closed down more than 11% at $1.27 yesterday, after it announced a strategic restructuring.
The company will prioritize its late-stage product opportunities, poziotinib and Rolontis (eflapegrastim), and will deprioritize development activities of its early-stage clinical development and research programs. The company has made these decisions following a detailed review of its operations, portfolio and growth opportunities, and will focus its resources accordingly.
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