APAZIQUONE rights acquired: $12.60 today
Spectrum Pharma acquires rights for apaziquone in the U.S., Europe and other territories from Allergan (AGN); expects to file New Drug Application (SPPI) 11.93 : Co has reacquired development and commercialization rights for apaziquone in the United States, Europe and other territories pursuant to an agreed-upon restructuring of Spectrum's collaboration with Allergan (AGN). In exchange, Allergan will receive a royalty on future revenue. Apaziquone is an anticancer agent being developed for the treatment of non-muscle invasive bladder cancer as a single instillation following transurethral resection of bladder tumor. Spectrum also announced that a scheduled meeting with the FDA was held last month to discuss the results from the Company's Phase 3 clinical trials. Based on the discussions with the FDA, Spectrum understands that the FDA can accept the NDA filing with the current Phase III data and will likely convene an Advisory Committee meeting. Further, based on discussions with the FDA, Spectrum has agreed to conduct one additional Phase III study following consultation with the FDA on its design.