By Denny Jacob
Spectrum Pharmaceuticals Inc. shares rose 12% to $1.46 in after-hours trading Friday after the company said that its Rolvedon injection was approved by the Food and Drug Administration.
Trading resumed at 4:50 p.m. EDT after being halted at 3:46 p.m. EDT.
The biotechnology company said the injection decreases the chance of infection, as manifested by febrile neutropenia, in adult patients with non-myeloid malignancies receiving myelosuppressive anti-cancer drugs associated with clinically significant incidence of febrile neutropenia.
Spectrum expects to have the product available in the fourth quarter, said Erin Miller, senior vice president, sales and marketing of Spectrum.
Febrile neutropenia refers to the occurrence of a fever during a period of significant neutropenia. When a patient has neutropenia, their risk of infection may be higher than normal, and the severity of a given infection may be higher also, according to the Journal of the American Medical Association.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
September 09, 2022 17:12 ET (21:12 GMT)
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Read More: Spectrum Pharmaceuticals Shares Rise 12% on FDA Approval of Rolvedon