RTTNews | Jan 5, 2022 08:26AM EST

08:26 Wednesday, January 5, 2022 (RTTNews.com) - Spectrum Pharmaceuticals (SPPI) announced a strategic restructuring, which will result in a workforce reduction of approximately 30%. The company noted that physical footprint of selected facilities will be significantly reduced in 2022.

Spectrum said the company is prioritizing the development activities for its late-stage assets, poziotinib and ROLONTIS, and will deprioritize work on its early-stage pipeline, FIT Program and IL-12.

Tom Riga, CEO, Spectrum Pharmaceuticals, said: "The changes we are implementing are expected to result in a reduction in operating expenses and the extension of the company's cash runway into 2023."

Read the original article on RTTNews ( https://www.rttnews.com/3252944/spectrum-pharma-to-restructure-organization-to-cut-workforce-by-approx-30.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2022 RTTNews.com All Rights Reserved