SPPI down 7.48% to close at 5.69 on news of the company raising $10m from institutional investors at $5.83/share. Despite the pullback, I am still bullish on the stock. We may see a continued pullback at first, however as we approach the 7/2 deadline for the first drug, I believe the PPS will rebound back up.

Awaiting the FDA decision for the first drug by 7/2/09 and the second drug by 10/8/09.

FDA plays are highly risky, so if you have enough profit (or loss), take it. You never know what will happen.

SPPI - SharpCharts from StockCharts.com