Skip to Main Content

Shares of Spectrum Pharmaceuticals (SPPI) jumped 36 percent Wednesday on excitement generated by its experimental lung cancer drug poziotinib. With the surge, the company’s market value is now approaching $2 billion.

Justified? Maybe, but only if you’re making optimistic assumptions based on very preliminary clinical data. And only if you’re willing to forget that Spectrum isn’t very good at either developing or selling cancer drugs.

Unlock this article by subscribing to STAT+ and enjoy your first 30 days free!