Spectrum Pharma Announces Equity Investment By Hanmi Pharma - Quick Facts

Spectrum Pharmaceuticals (SPPI) announced an equity investment by Hanmi Pharmaceutical along with revisions to the licensing agreements for ROLONTIS and poziotinib. Hanmi entered into a $20 million equity purchase agreement that will be priced at $1.60 per share. Amendments to the licensing agreements for both ROLONTIS and poziotinib will
result in the conversion of the upfront milestone payments for both products to
deferred royalties. The parties also entered into an amended supply arrangement
that is expected to result in a lower cost of goods sold for Spectrum.

Tom Riga, CEO of Spectrum Pharma, said: "We look forward to our continued partnership with Hanmi and to achieving the shared goal of gaining FDA approval for ROLONTIS and poziotinib."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Food and Drug Administration is looking to set a new framework to further improve and maintain the supply of infant formula to ensure that American consumers have access to safe and nutritious infant formula. Infant formula is an essential food product that is the sole source of nutrition for many babies in the U.S. Amazon has unveiled millions of deals worldwide that will be available during its upcoming Prime Day extravaganza. The 48-hour shopping event for Prime members kicks off July 12 at 3 a.m. EDT, offering deals of up to 79% off across various categories. These include electronics, devices, toys, beauty, fashion, and home, from top national brands and small businesses. Primal Pet Foods is recalling a single lot of Raw Frozen Primal Patties for Dogs Beef Formula due to potential contamination with Listeria monocytogenes, the U.S. Food and Drug Administration said. The recall involves lot #W10068709 of 6-pound Raw Frozen Primal Patties with best by date of 05/22/23. The Raw Frozen Primal Patties are sold in flexible packaging in the freezer at select pet stores.
Follow RTT