NEW YORK, NY / ACCESSWIRE / October 19, 2017 / Shares of both Spectrum Pharmaceuticals and Protalix BioTherapeutics were on fire in Wednesday trading after the companies announced good news respectively. Israeli-based Protalix soared after it announced a license and collaboration agreement with Chiesi. Spectrum hit a new high after announcing impressive interim data results from a Phase 2 clinical study evaluating poziotinib in EGFR Exon 20 Mutant Non-Small-Cell Lung Cancer (NSCLC).

RDI Initiates Coverage on:

Spectrum Pharmaceuticals, Inc.
https://rdinvesting.com/news/?ticker=SPPI

Protalix BioTherapeutics, Inc.
https://rdinvesting.com/news/?ticker=PLX

Spectrum Pharmaceuticals, Inc.'s shares closed up 36.03% yesterday and hit a new high of $21.95 during intra-day trading. Trading volume at nearly 20 million shares traded was significantly higher than the stock's average volume of around 1.3 million. The big gains came after the company released encouraging interim data results for its non-small cell lung cancer (NSCLC) candidate, poziotinib. The drug candidate's interim mid-stage results were released as part of an oral presentation at the 18th World Conference on Lung Cancer in Japan. CEO Rajesh C. Shrotriya, M.D., commented, "We are greatly encouraged with the clinical data emerging from poziotinib and plan to pursue its clinical development expeditiously and aggressively. In the near future, we plan to discuss the regulatory pathway for poziotinib with the FDA. At the same time, we are embarking upon an overall strategy for global clinical development and regulatory filings. With three promising drugs in late-stage development, Spectrum's pipeline has never been as exciting and our prospects never as bright."

Access RDI's Spectrum Pharmaceuticals, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=SPPI

Protalix BioTherapeutics, Inc.'s shares closed in the green on Wednesday up 26.91%. Trading volume at roughly 25.3 million shares was an explosion compared to the stock's average volume of just a little over 600,000 shares. The Israeli drug maker announced that it has entered into an Ex-US license and collaboration agreement with Chiesi Farmaceutici S.p.A., or Chiesi. The agreement is for the company's pegunigalsidase alfa, or PRX-102, a chemically modified version of the recombinant protein alpha-Galactosidase-A protein that is currently being evaluated in phase III clinical trials for the treatment of Fabry disease. Under the agreement, Protalix will get an initial $25 million payment upfront and additional payments of up to $25 million in development costs from Chiesi. The payments will be capped at $10 million annually. In return, Protalix has licensed PRX-102 to Chiesi for all markets outside of the United States. Protalix CEO Moshe Manor released a statement saying, "With this transaction, we have secured significant and important funding while maintaining full rights to PRX-102 in the U.S. market.? Chiesi CEO Ugo Di Francesco remarked, "With revenues of approximately $1.8 billion, the Chiesi Group is among the top 50 pharmaceutical companies in the world. By combining the respective strengths of Chiesi and Protalix to advance PRX-102, we look forward to bringing a novel, differentiated therapeutic option to patients suffering from Fabry disease who have a true need for an alternative treatment with an improved safety and efficacy profile [...] PRX-102 complements our existing product portfolio in rare diseases and underscores our commitment to bringing novel therapeutics to patients across the globe."

Access RDI's Protalix BioTherapeutics, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=PLX

Our Actionable Research on Spectrum Pharmaceuticals, Inc. (NASDAQ: SPPI) and Protalix BioTherapeutics, Inc. (NYSE: PLX) can be downloaded free of charge at Research Driven Investing.

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