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Allos buy could be silver lining for Spectrum after cancer drug setback

 
• By Nancy Faigen

In the midst of facing new problems with one its investigational late-stage anticancer agents, Spectrum Pharmaceuticals has set its sights on acquiring Allos Therapeutics for up to $206 million – eyeing that firm’s FDA-approved peripheral T-cell lymphoma (PTCL) medicine Folotyn (pralatrexate injection).

In the midst of facing new problems with one its investigational late-stage anticancer agents, Spectrum Pharmaceuticals has set its sights on acquiring Allos Therapeutics for up to $206 million – eyeing that firm’s FDA-approved peripheral T-cell lymphoma (PTCL) medicine Folotyn (pralatrexate injection).

On the same day it revealed its bid for Allos, Spectrum disclosed that its bladder cancer drug apaziquone failed to meet the main goals in two Phase III trials – news that sent the Henderson, Nevada-based company’s shares tumbling

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