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Biotech / Medical : T/FIF, a New Plateau -- Ignore unavailable to you. Want to Upgrade?

To: Icebrg who wrote (2032)	5/14/2003 6:08:05 PM
From: Icebrg	Read Replies (2) \| Respond to of 2243

>>Spectrum Pharmaceuticals (SPPI)>> And even more money flowing Spectrum's way. IRVINE, Calif., May 14 /PRNewswire-FirstCall/ -- Spectrum Pharmaceuticals, Inc. (Nasdaq: SPPI - News) today announced that it has raised an additional $1.56 million through the sale of newly issued shares of Series D 8% Cumulative Convertible Preferred Stock to the same group of investors who participated in the financing that closed last week. The institutional investors are well known biotechnology investors, such as SCO Capital Partners, SDS Merchant Fund, Xmark Funds and ProMed Partners, L.P. This second closing brings total capital raised by Spectrum this month to $6 million. Message 18944872 Raj says the company is now funded into the middle of next year. So, he should get back to business now developing drugs or I will soon start to feel somewhat diluted. Anyhow, securing the cash and equity levels necessary for the survival of the company is not a bad thing. Erik