| Spectrum plans to buy back shares from the marketplace |
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| By Staff and Wire Reports | |
| Wednesday, 15 June 2011 07:30 | |
 Spectrum Pharmaceuticals, Inc. (Nasdaq:SPPI), a biotechnology company with fully integrated commercial and drug development operations with a primary focus in oncology, today announced that its Board of Directors has authorized the purchase of up to $25 million of its common stock through the end of 2012.
A stock buyback, also known as a "share repurchase", is a company's buying back its shares from the marketplace. You can think of a buyback as a company investing in itself, or using its cash to buy its own shares. The idea is simple: because a company can’t act as its own shareholder, repurchased shares are absorbed by the company, and the number of outstanding shares on the market is reduced. When this happens, the relative ownership stake of each investor increases because there are fewer shares, or claims, on the earnings of the company. Stock will be purchased from time to time, in the open market, through block trades, through 10b5-1 plans, or through privately negotiated transactions in compliance with Securities and Exchange Commission guidelines. The Company expects the stock repurchase program to help partially offset potential dilution from outstanding warrants and equity incentive programs. The timing and actual number of shares repurchased will depend on a variety of factors including price, market conditions and corporate and regulatory requirements. Purchases may be made beginning immediately and ending at such time as the authorized funds are spent or the program is discontinued. The program does not obligate Spectrum to acquire any particular amount of common stock, and the program may be modified or suspended at any time at Spectrum’s discretion. Glancing through our BioMedReports FDA Calendar of trade catalysts we can see that SPII is expecting Phase II top-line results of progression-free survival and response rate during the third quarter of this year for its PXD101 with Paclitaxel and Carboplatin. "Featured Content" profiles are meant to provide awareness of these companies to investors in the small-cap and growth equity community and should not in any way come across as a recommendation to buy, sell or hold these securities. BiomedReports is not paid or compensated by newswires to disseminate or report news and developments about publicly traded companies, but may from time to time receive compensation for advertising, data, analytics and investor relation services from various entities and firms. Full disclosures should be read in the 'About Us Section'. Add this page to your favorite Social Bookmarking websites            |
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