Investing.com - Spectrum Pharmaceuticals Inc's (NASDAQ:SPPI) shares were rallying Friday on high trading volumes as the company released solid second quarter results.
The biotechnology company that develops and commercializes oncology and hematology drug products saw its net loss narrow by about 16% in the quarter to $20.5 million while revenue increased by 1.2% to $34.3 million.
The company also said that a biologics License Application (BLA) filing for its neutropenia drug ROLONTIS should occur next year.
Meanwhile, interim data from the Phase 2 study of poziotinib in certain patients with non-small cell lung cancer expected before year-end.
Spectrum Pharmaceutical's shares were up 22% on the home stretch to the closing bell. They set a new 52-week high during the session, and trading volumes were about three-times their normal rate.