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Spectrum Pharma (SPPI) Down 4.6% Since Last Earnings Report: Can It Rebound?
It has been about a month since the last earnings report for Spectrum Pharmaceuticals . Shares have lost about 4.6% in that time frame, outperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Spectrum Pharma due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.
Spectrum Pharma Incurs Wider-Than-Expected Q4 Loss
Spectrum Pharmaceuticals’ fourth-quarter 2019 adjusted loss of 30 cents per share was wider than the Zacks Consensus Estimate of a loss of 26 cents. However, adjusted loss narrowed from the year-ago quarter’s loss of 41 cents.
The company did not record any revenues during the quarter. The Zacks Consensus Estimate for revenues was pegged at $1 million.
Quarter in Detail
Adjusted research & development (R&D) expenses were $22.4 million, down 23.3% from the year-ago quarter.
Adjusted selling, general and administrative (SG&A) expenses declined 171% to $11.6 million.
2019 Results
Spectrum Pharma did not record any revenues for the full year. Adjusted loss for the period was $1.01 per share, narrower than the year-ago adjusted loss of $1.20 per share.
How Have Estimates Been Moving Since Then?
Analysts were quiet during the last two month period as none of them issued any earnings estimate revisions.