Spectrum Pharmaceuticals to Ring the Nasdaq Stock Market Opening Bell on Tuesday, November 29, 2011

Spectrum Pharmaceuticals (NasdaqGS:SPPI) today announced that Rajesh C. Shrotriya, MD, Chairman, Chief Executive Officer, and President, has been invited to chair the opening ceremonies and ring the Nasdaq Stock Market opening bell on Tuesday, November 29, 2011.

Spectrum Pharmaceuticals markets two oncology drugs, FUSILEV^® and ZEVALIN^®, and has two drugs, apaziquone and belinostat, in late stage development. In the most recent quarter, Spectrum reported consolidated revenue of $51.02 million which was up 205% compared to the same quarter last year. Last week, the FDA approved the removal of the bioscan requirement for ZEVALIN. The Company has a strong late-stage pipeline and expects pivotal data from two drugs in 2012: apaziquone for the treatment of bladder cancer, and belinostat for the treatment of Peripheral T-Cell Lymphoma.

"We are at a momentous occasion in the lifetime of Spectrum Pharmaceuticals,” said Dr. Shrotriya. "As we begin our 10th year of trading on Nasdaq as Spectrum Pharmaceuticals, FUSILEV and ZEVALIN are meaningfully contributing to the company's cash flows. Last week's FDA approval of the removal of the cumbersome bioscan requirement for ZEVALIN simplifies the drug's treatment regimen for patients with follicular non-Hodgkin lymphoma and should help us solidify the ZEVALIN brand in the long-term. These are very exciting times for Spectrum as pivotal data from apaziquone and belinostat within the next year could be transformative events for the Company. I am pleased that strategic decisions that we have taken in the past decade are now starting to bear fruit.”

A live webcast of the NASDAQ Opening Bell will be available at: http://www.nasdaq.com/about/marketsitetowervideo.asx

About Spectrum Pharmaceuticals, Inc.

Spectrum Pharmaceuticals is a biotechnology company with fully integrated commercial and drug development operations with a primary focus in hematology and oncology. The Company’s strategy is to acquire, develop and commercialize a broad and diverse pipeline of late-stage clinical and commercial products. The Company markets two oncology drugs, FUSILEV and ZEVALIN and has two drugs, apaziquone and belinostat, in late stage development along with a diversified pipeline of novel drug candidates. The Company has assembled an integrated in-house scientific team, including clinical development, medical research, regulatory affairs, biostatistics and data management, formulation development, and has established a commercial infrastructure for the marketing of its products. The Company also leverages the expertise of its worldwide partners to assist in the execution of its strategy. For more information, please visit the Company’s website at www.sppirx.com.

Forward-looking statement – This press release may contain forward-looking statements regarding future events and the future performance of Spectrum Pharmaceuticals that involve risks and uncertainties that could cause actual results to differ materially. These statements are based on management’s current beliefs and expectations. These statements include but are not limited to statements that relate to our business and its future, including certain company milestones, Spectrum's ability to identify, acquire, develop and commercialize a broad and diverse pipeline of late-stage clinical and commercial products, leveraging the expertise of partners and employees, around the world to assist us in the execution of our strategy, and any statements that relate to the intent, belief, plans or expectations of Spectrum or its management, or that are not a statement of historical fact. Risks that could cause actual results to differ include the possibility that our existing and new drug candidates, may not prove safe or effective, the possibility that our existing and new applications to the FDA may not receive approval, and other regulatory agencies in a timely manner or at all, the possibility that our existing and new drug candidates, if approved, may not be more effective, safer or more cost efficient than competing drugs, the possibility that our efforts to acquire or in-license and develop additional drug candidates may fail, our lack of sustained revenue history, our limited marketing experience, our dependence on third parties for clinical trials, manufacturing, distribution and quality control and other risks that are described in further detail in the Company's reports filed with the Securities and Exchange Commission. We do not plan to update any such forward-looking statements and expressly disclaim any duty to update the information contained in this press release except as required by law.

SPECTRUM PHARMACEUTICALS, INC.^®, ZEVALIN^®, and FUSILEV^® are registered trademarks of Spectrum Pharmaceuticals, Inc. REDEFINING CANCER CARE™ and the Spectrum Pharmaceutical logos are trademarks owned by Spectrum Pharmaceuticals, Inc.

^© 2011 Spectrum Pharmaceuticals, Inc. All Rights Reserved.