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Spectrum to lay off R&D staff after FDA drug rejection
The company will investigate "strategic options" for the initiative and stop working on the lung cancer medicine poziotinib. Following the Food and Treatment Administration's rejection of the company's cancer drug candidate poziotinib, Spectrum Pharmaceuticals will fire 75% of its research and development personnel. In a statement on Friday, Spectrum announced the rejection and said it will "immediately" stop investing in poziotinib. Spectrum created the medication to treat a specific type of non-small cell cancer. The FDA's advisory group rejected the medicine 9–4 because it believed that the dangers outweighed the benefits when it reviewed the company's application for approval in September.
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