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Dear Fellow Stockholders,
We are pleased to provide you with the proxy materials for our 2010 Annual Meeting of Stockholders. This year, our meeting will be held on Friday, June 18, 2010 at 10:30 a.m. Pacific Time, at our corporate office located at 157 Technology Drive, Irvine, California, 92618.
For Spectrum, 2009 was a watershed year financially, strategically, and operationally. For the first time in our history, we recorded product revenue of over $28 million. Some of our other key accomplishments included: acquiring all U.S. rights to Zevalin ® , a novel drug for the treatment of non-Hodgkin’s Lymphoma, and securing FDA approval for its use in the first-line setting, thereby expanding the market opportunity substantially to more than 40,000 addressable patients; receiving Fast-Track designation for apaziquone (EOquin ® ), our drug in pivotal registrational trials for bladder cancer; completing enrollment, involving over 1,600 patients, in these Phase 3 trials, ahead of schedule; and entering into two international alliances worth approximately $170 million. And, despite an exceptionally challenging financial environment in which many companies struggled to meet basic operating needs, we were able to raise more than $100 million, allowing us to meet most of our strategic initiatives.
All of us at Spectrum come to work with one goal in mind: How can we improve the quality of life of cancer patients while at the same time helping to increase stockholder value in a challenging and rewarding environment? To succeed, we need to constantly invest in our future. With this in mind, we recently in-licensed belinostat, a late-stage, novel, potentially best-in-class histone deacetylase (HDAC) inhibitor for the treatment of various solid tumors and hematological malignancies, which is currently in a registrational, pivotal trial under a Special Protocol Assessment from the FDA requiring 100 evaluable patients with Peripheral T-Cell Lymphoma. Belinostat has been given a Fast Track Designation by the FDA. We plan to submit the new drug application next year.
Spectrum has never been stronger than it is today, with two marketed drugs, Zevalin and Fusilev, two late-stage drugs, apaziquone and belinostat, in pivotal registrational trials, and a strong cash position. We remain committed to our philosophy of fiscal discipline and balanced risk management, as we continue to develop novel treatments to help cancer patients.
At this meeting, we are asking for votes from our stockholders on the election of our six nominees to the board of directors. We believe that our director nominees will continue to bring high ethical standards, significant knowledge, experience, contacts and oversight to help us move forward with the commercialization of our marketed drugs and development of our clinical drugs.
Your vote is important, and whether or not you attend the annual meeting, I encourage you to sign and return your proxy card, so that your shares of stock will be represented and your votes cast at the meeting. If you have any further questions, please contact our Vice President of Finance, Mr. Shyam Kumaria, at Spectrum Pharmaceuticals, Inc., 157 Technology Drive, Irvine, CA 92618.
We thank you for your consideration and support, and hope to see you at this year’s annual meeting to learn more about our future plans for Spectrum Pharmaceuticals.
Sincerely,
-S- RAJESH C. SHROTRIYA, M.D.
Rajesh C. Shrotriya, M.D.
Chairman of the Board, Chief Executive
Officer and President
(SPECTRUM PHARMACEUTICALS LOGO)
157 Technology Drive
Irvine, CA 92618
NOTICE OF ANNUAL MEETING OF STOCKHOLDERS
To Be Held Friday, June 18, 2010
To our Stockholders:
The 2010 annual meeting of stockholders of Spectrum Pharmaceuticals, Inc. will be held at our corporate office located at 157 Technology Drive, Irvine, California, 92618, on Friday, June 18, 2010, beginning at 10:30 a.m., Pacific Time. At the annual meeting, the holders of our outstanding voting securities will consider and act on the following matters:
(1) Election of six directors, each for a term of one year expiring at the 2011 annual meeting of stockholders; and
(2) Transaction of such other business as may properly come before the meeting.
All holders of record of shares of our common stock and Series E Convertible Voting Preferred Stock at the close of business on April 20, 2010 are entitled to vote at the annual meeting and any postponements or adjournments of the annual meeting.
Please note that registration will begin at 9:30 a.m., and seating will begin immediately thereafter. Each stockholder may be asked to present valid picture identification, such as a driver’s license or passport. Stockholders holding stock in brokerage accounts (“street name” holders) will need to bring a copy of a brokerage statement reflecting stock ownership as of the record date. It is important that your shares be represented; therefore, even if you presently plan to attend the annual meeting, PLEASE COMPLETE, SIGN AND DATE, AND PROMPTLY RETURN THE ENCLOSED PROXY CARD IN THE ENVELOPE PROVIDED.
Very truly yours,
-S- RAJESH C. SHROTRIYA, M.D.
Rajesh C. Shrotriya, M.D.
Chairman of the Board, Chief Executive
Officer and President
Date: April 28, 2010
Irvine, California
IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE
STOCKHOLDER MEETING TO BE HELD ON JUNE 18, 2010
The proxy statement and annual report to our stockholders for the year ended December 31, 2009 are available at our Investor Relations page of our Internet website under the heading “Annual Meeting and Proxy Information.” Our web page is http://www.sppirx.com . |
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