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Stock Market & Financial Investment News

News Breaks
March 14, 2013
07:08 EDTSPPI, LGNDSpectrum gains rights to Capitsol-enabled Melphalan
Spectrum Pharmaceuticals (SPPI) has gained global development and commercialization rights to Ligand Pharmaceuticals’ (LGND) Captisol-enabled, propylene glycol-free (PG-free) melphalan. Captisol-enabled melphalan is currently in a pivotal trial for use as a conditioning treatment prior to autologous stem cell transplant for patients with multiple myeloma. Spectrum is assuming the responsibility for the ongoing pivotal clinical trial and will be responsible for filing an NDA, which is anticipated in the first half of 2014. Under the license agreement, Ligand will receive a license fee and is eligible to receive milestone payments, as well as royalties following potential commercialization.
News For SPPI;LGND From The Last 14 Days
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May 14, 2015
07:01 EDTSPPISpectrum commits to review shareholder proposal
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May 12, 2015
12:34 EDTSPPIOn The Fly: Top stock stories at midday
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06:16 EDTSPPIArmistice calls for full or partial sale of Spectrum
Armistice Capital reported a 5.4% stake in Spectrum Pharmaceuticals and disclosed a letter it sent to the company's Chairman and CEO Rajesh Shrotriya as well as its board. In the letter, Armistice stated its view that Spectrum "continues to underperform its peers and that a number of opportunities exist to rectify this underperformance and create significant value for shareholders." Armistice detailed "action that management should take to reduce operating expenses, restructure the Issuer's operations to enhance efficiency and better align the incentives of management with shareholders." Armistice believes Spectrum "can create significant value for shareholders through a combination of reducing management compensation and employee headcount, significantly curtailing research and development, eliminating excessive corporate offices, and focusing on in-licensing and co-promotion opportunities." Further, Armistice requests that Spectrum initiate a complete or partial sale of the company. Shares of the biotechnology company focused on hematology and oncology closed yesterday up 38c to $6.06.
May 11, 2015
11:31 EDTLGNDLigand price target raised to $127 from $116 at Roth Capital
Roth Capital raised its price target for Ligand Pharmaceuticals to $127 citing pipeline expansion following the company's Q1 results. Roth recommends "steady accumulation" of the stock and keeps a Buy rating on the name.
08:35 EDTLGNDLigand sees Q2 adjusted EPS 37c-40c, consensus 35c
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08:34 EDTLGNDLigand affirms FY15 adjusted EPS view $2.14-$2.18, consensus $2.13
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08:34 EDTLGNDLigand reports Q1 adjusted EPS 33c, consensus 27c
Reports Q1 revenue $14.6M, consensus $13.53M.
08:16 EDTLGNDLigand acquires rights to over 15 fully-funded development programs from Selexis
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