Spectrum rallies after preliminary Q4 sales crush estimates

Spectrum Pharmaceuticals earlier today announced preliminary Rolvedon net sales for the quarter and year ended December 31, 2022. Preliminary unaudited net sales for Q4 are expected to be approximately $10M. Rolvedon was launched in the U.S. on October 18, 2022. 70 targeted accounts purchased Rolvedon during the launch quarter and the top three community oncology networks, representing approximately 22% of the total clinic market, have begun utilizing Rolvedon. "I am pleased with the early receptivity to Rolvedon from our oncology customers in the first quarter of our launch," said Tom Riga, CEO of Spectrum. "The commercial team is implementing our launch strategy and are committed to disciplined execution over time. The energy and enthusiasm within our company is high as we look to establish a strong launch trajectory with our novel product in this highly competitive, yet attractive market." Spectrum shares are up 21% to 66c in midday trading.