Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) Q3 2019 Earnings Conference Call - Final Transcript

Nov 07, 2019 • 04:30 pm ET


Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) Q3 2019 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by, and welcome to the Spectrum Pharmaceuticals Third Quarter 2019 Earnings Call. [Operator Instructions]

I would now like to hand the conference over to your speaker, Shiv Kapoor, Vice President, Strategic Planning and Investor Relations. Please go ahead.

Shiv Kapoor

Thank you. Good afternoon to everyone. Thank you for joining us today for Spectrum Pharmaceuticals third quarter 2019 Financial Results Conference Call. Our press release is available on our website at www.sppirx.com. Joe Turgeon, our CEO and President, who will start the call and provide an overview followed by a financial update from our CFO, Kurt Gustafson, and discussion about clinical development progress from our CMO, Dr. Francois Lebel.

Before we get started, I would like everyone to please refer to the notice regarding forward-looking statements included in our -- in today's press release. This notice emphasizes the major uncertainties and risks inherent in the forward-looking statements that we will be making this afternoon. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements.

With that, let me hand the call over to Joe.

Joseph W. Turgeon

Thank you, Shiv, and good afternoon. Welcome to everybody on the call. I appreciate your interest in Spectrum. And we remain highly focused on our late-stage assets, Poziotinib and ROLONTIS. Let me begin with update on our progress. The Poziotinib program, which targets hard to treat mutations in lung cancer is in full swing. We have a broad development program to explore its full potential and are pleased with enrollment. We're expecting results from the first cohort of the ZENITH20 trial in December. Dr. Francois will give you a comprehensive update of our expanded Poziotinib program in just a few minutes.

ROLONTIS is our late-stage drug being developed for the treatment of chemotherapy induced neutropenia. As you recall, we voluntarily withdrew our BLA application earlier this year. Since then, we worked closely with the FDA and recently submitted a robust package. We look forward to competing in this market.

Let me give as a direction I'm moving this Company. Our focus is crystal clear. We are developing two late stage assets and expanding the pipeline. We made significant progress and have shifted from small niche products to higher value targets through divestiture of our legacy assets, advances in our late-stage products and the acquisition of the FIT platform. We've focused on our strategic priorities and we are aggressively pursuing opportunities to expand our pipeline. With growing pipeline, significant near-term milestones, solid capitalization and a highly focused team, we're in a strong position to drive these programs forward.

With that let me turn it over to Kurt to go over to financials.

Kurt A. Gustafson

Thanks, Joe. Let's start with continuing operations. Our SG&A expense for the third quarter