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Stock Market & Financial Investment News

News Breaks
April 21, 2014
07:05 EDTSPPISpectrum promotes Turgeon to president, COO
Spectrum announced the promotion of Joseph Turgeon to president and COO. Turgeon was previously senior vice president and Chief Commercial Officer. Spectrum also announced the promotion of Thomas Riga to senior vice president, Chief Commercial Officer. Riga was previously vice president, corporate accounts. Ken Keller resigned as executive vice president, COO of the company to pursue other opportunities.
News For SPPI 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.

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