) recently provided its first quarter and full year 2013 revenue
The company expects Fusilev sales in the first quarter of 2013
in the range of $10 million to $15 million. Fusilev sales for the
full year 2013 are expected to be around $80−$90 million.
In 2012, Spectrum Pharma had recorded total Fusilev sales of
$204.3 million. But the company expects that sales in 2013 to be
impacted by the shifting of hospitals to generics. However,
clinical segment sales are expected to be stable and the company
believes this segment will continue to grow.
Spectrum Pharma expects ordering patterns of its metastatic
colorectal cancer (mCRC) drug, Fusilev, will change due to the
stabilization of the folate analog market. The company stated
that the majority of the impact due to the change in the ordering
pattern will be during the first half of the year, and it will
stabilize in the latter half.
Spectrum Pharma, however, believes that sales from its
hematology franchise, including Folotyn and Zevalin, will grow
during 2013. The company's total revenues for the year are
expected between $160 million and $180 million. The Zacks
Consensus Estimate of $299 million is way above the company's
guidance range. In 2012, total revenue at Spectrum Pharma was
In spite of guiding towards lower revenues in 2013 compared to
2012, Spectrum Pharma continues to expect to be profitable in
2013. The Zacks Consensus Estimate is 87 cents per share.
The company also updated its plans for its late-stage
candidates. Spectrum Pharma expects to file a New Drug
Application (NDA) with the US Food and Drug Administration (FDA)
for its peripheral T-cell lymphoma candidate, belinostat, around
mid-2013. The company expects to commercialize the candidate in
2014, provided it gains FDA approval. Spectrum Pharma also
expects to file an NDA for oncology candidate apaziquone in
We expects the shares to be negatively impacted by the news
regarding the guidance.
Spectrum Pharma, a biotechnology company, currently carries a
Zacks Rank #5 (Strong Sell). Not all biotech stocks are
performing as poorly as Spectrum Pharma. Companies like
) presently look more attractive. Cytokinetics and WuXi Pharma
carry a Zacks Rank #1 (Strong Buy), while Agenus carries a Zacks
Rank #2 (Buy).
AGENUS INC (AGEN): Free Stock Analysis Report
CYTOKINETCS INC (CYTK): Free Stock Analysis
SPECTRUM PHARMA (SPPI): Free Stock Analysis
WUXI PHARMATECH (WX): Free Stock Analysis
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