Irvine drug maker Spectrum Pharmaceuticals Inc. on Wednesday forecast better-than-expected results for the first quarter.
Spectrum said in a preview that its quarterly product sales, which are less than total sales, would come “in excess of $40 million,” almost six times higher than the $7.1 million in product sales in 2010’s first quarter.
The drug maker said it anticipated recording a first-quarter profit but did not give a specific figure.
Analysts expect Spectrum to post a loss of $1 million on revenue of $24 million in the quarter.
Spectrum said it would release its first-quarter results on May 3, after the market closes.
The drug maker also said it expected the Food and Drug Administration to act on a regulatory application for its Fusilev drug for use in advanced colorectal cancer that has metastasized, or spread, on Friday.
