Spectrum Pharmaceuticals to be traded on NASDAQ Global Select Market

Spectrum Pharmaceuticals (NasdaqGM: SPPI), a biotechnology company with fully integrated commercial and drug development operations with a primary focus in oncology, announced today that effective January 3, 2011, it will begin trading on the NASDAQ Global Select Market. The NASDAQ Global Select Market is the highest NASDAQ listing tier based on financial and liquidity criteria. Prior to the effectiveness of this change in the New Year, shares of Spectrum Pharmaceuticals will continue to be traded on the NASDAQ Global Market.

"We are proud that we will now be listed on the NASDAQ Global Select Market, a market applying the most stringent financial listing standards in the world," said Rajesh C. Shrotriya, MD, Chairman of the Board of Directors, Chief Executive Officer, and President of Spectrum Pharmaceuticals. "We believe this reflects our commitment to leadership in the biopharmaceutical industry by providing cancer patients with new treatment options and investors with superior market quality."

Beginning in July 2006, NASDAQ-listed companies were classified under three listing tiers - NASDAQ Global Select Market, NASDAQ Global Market, and NASDAQ Capital Market. These tiers each maintain rigorous listing and corporate governance standards, with NASDAQ Global Select Market being the most stringent.