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Pharma Stock Updates: Spectrum Pharmaceuticals, Inc.(NASDAQ:SPPI), Natural Alternatives International, Inc. (NASDAQ:NAII)

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By on BioPharma

Shares of Spectrum Pharmaceuticals, Inc.(NASDAQ:SPPI) climbed almost 4% in midday trade Thursday after the biotechnology company announced it received FDA approval on Beleodaq, a drug designed for the treatment of an aggressive form of blood cancer. Beleodaq has been approved for patients with relapsed or refractory peripheral T-cell lymphoma, which is a rare cancer of the lymph nodes.

For continued approval, the drug will be subject to further trials which will have to confirm its clinical benefit. In midday trade, SPPI shares are up 3.7% to $9.04. The stock trades within a 52-week range of $6.36 to $10.32.

Nutritional supplement firm, Natural Alternatives International, Inc. (NASDAQ:NAII) gained Thursday after saying the plaintiffs in four product liability suits have dismissed all of their claims against the company relating to CarnoSyn beta-alanine. Near midday, shares are up 2.26% at $5.44 with a 52-week range of $4.37 – $6.35.

NAII had been named as a co-defendant in cases involving a dietary supplement called Jack3d, which contains 1,3-dimethylylamylamine (also known as DMAA), which was formulated, made for and sold by USPLABS, LLC. One of the ingredients used in the product was CarnoSyn beta-alanine. NAII did not manufacture, formulate, package, distribute or sell the CarnoSyn beta-alanine used by USPLABS. NAII merely licensed the patents and trademark covering CarnoSyn beta-alanine to USPLABS.

Additionally, the company noted that “there was absolutely no factual support for any suggestion that using beta-alanine as a dietary supplement, when taken as directed, was unsafe.”

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