Shares of Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) are shooting upwards on unconfirmed takeover speculation.

Earlier this month, Spectrum was granted an approval from the FDA for an expanded label for the treatment of patients with previously untreated follicular non-Hodgkin's lymphoma, or NHL, who achieve a partial or complete response to first-line chemotherapy. The company also has a pending FDA approval due early next month and a healthy pipeline of developmental drugs.

TradeTheNews and FlyOnTheWall are reporting Bayer as a potential buyer with price chatter in the mid-teens.

On Friday, BioMedReports reported related news about the company here:

http://biomedreports.com/articles/most-popular/9069-market-opportunities-for-spectrums-zevalin-may-expand-significantly.html

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