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Symbol Sentiment Start Return Closed SPPI n/a Via BloggingStocks:   Filed under: Major movement, Bad news, Options, Technical Analysis Spectrum Pharmaceutical (NASDAQ: SPPI - option chain) stock is trading lower today after the company received a Complete Response letter from the FDA regarding FUSILEV, its treatment for advanced metastatic colorectal cancer. The FDA said the company did not demonstrate that FUSILEV is non-inferior to leucovorin in its supplemental New Drug Application. If you think this stock won't be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on SPPI. This morning, SPPI opened at $4.98. So far today the stock has hit a high of $5.44 and a low of $4.82. As of 12:00, SPPI is trading at $5.12, down $1.09 (-17.6%). The chart for SPPI looks neutral. Continue reading Spectrum Pharma (SPPI) drops on cancer drug setback Spectrum Pharma (SPPI) drops on cancer drug setback originally appeared on BloggingStocks on Fri, 09 Oct 2009 12:40:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments   Read the rest of original post »

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