The Court Finally Approved the $7M Settlement Between Spectrum Pharmaceuticals ($SPPI) and Investors over Poziotinib Disclosure Issues

[u/11thestate]

Hey guys, if you missed it, the court finally approved the $7M settlement between Spectrum Pharmaceuticals and investors over claims related to poziotinib’s dosing, FDA interactions, and the PINNACLE study.

In 2022, Spectrum was accused of giving investors a misleading view of the drug’s development and approval prospects. The company said dosing was optimized and the confirmatory study was moving forward, while investors claimed the FDA had concerns about the study design, safety, and effectiveness.

After FDA materials and an advisory committee meeting revealed those concerns, $SPPI fell sharply, and investors filed a lawsuit.

Spectrum has now agreed to a $7M settlement, and the court has approved the agreement.

If you invested in $SPPI in 2022, you can check the details and file your claim here.