SPPI (Spectrum Pharmaceuticals) has 2 drugs in the pipeline waiting for FDA approval. The first is Zevalin for non-Hodgkin's lymphoma which has a date of 7/2/09. The other is Fusilev for colorectal cancer which has a date of 10/8/09. SPPI has more than tripled in the past 3 months on speculation of approval and has been staying above the 10 day MA. It looks like it is ready to continue going. If the first drug is approved, this thing could see $10 easily, possibly even $15 or $20. If the second drug is also approved, this thing could add another $5 to $10 on top.

The good thing about SPPI is that you can also play options on it if you want to hedge.

FDA plays are highly speculative and risky, but the reward can be huge.

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