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<P style="font-size: 14pt" align="center"><B>UNITED STATES<BR>
SECURITIES AND
EXCHANGE COMMISSION<BR>
<FONT style="font-size: 12pt">Washington, D.C. 20549
</FONT></B>

<P style="font-size: 18pt" align="center"><B>FORM 8-K</B>

<P style="font-size: 12pt" align="center"><B>CURRENT REPORT<BR>
Pursuant to
Section 13 or 15(d) of the Securities Exchange Act of 1934</B>

<P style="font-size: 10pt" align="center"><B>Date of Report (Date of earliest
event reported): February 26, 2009</B>

<P style="font-size: 24pt" align="center"><B>SPECTRUM PHARMACEUTICALS,
INC.<BR>
</B><FONT style="font-size: 10pt">(Exact name of registrant as
specified in its charter) </FONT>
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 <TR>
  <TD width="32%">&nbsp;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD width="33%">&nbsp;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD width="32%">&nbsp;</TD>
 </TR>
 <TR valign="bottom">
  <TD style="border-bottom: #000000 1px solid"><B>Delaware</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>000-28782</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>93-0979187</B></TD>
 </TR>
 <TR valign="top">
  <TD>(State or other Jurisdiction of Incorporation)</TD>
  <TD>&nbsp;</TD>
  <TD>(Commission File Number)</TD>
  <TD>&nbsp;</TD>
  <TD>(IRS Employer Identification No.)</TD>
 </TR>

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  <TD width="49%">&nbsp;</TD>
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  <TD width="49%">&nbsp;</TD>
 </TR>
 <TR valign="bottom">
  <TD style="border-bottom: #000000 1px solid"><B>157 Technology Drive, Irvine,
California<BR>
</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>92618</B></TD>
 </TR>
 <TR valign="top">
  <TD>(Address of Principal Executive Offices)</TD>
  <TD>&nbsp;</TD>
  <TD>(Zip Code)</TD>
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<P style="font-size: 10pt" align="center">Registrant&#8217;s telephone number,
including area code: <B>(949) 788-6700</B>
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  <TD style="border-bottom: #000000 1px solid" nowrap><B>Not
Applicable<BR>
</B></TD>
 </TR>
 <TR>
  <TD nowrap>(Former name or former address if changed since last report.)</TD>
 </TR>

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<P style="font-size: 10pt" align="left">Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions:

<P style="font-size: 10pt" align="left"><FONT face="Wingdings">o</FONT> Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)<BR>
<BR>
<FONT face="Wingdings">o</FONT> Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR>
<BR>
<FONT
face="Wingdings">o</FONT> Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR>
<BR>
<FONT
face="Wingdings">o</FONT> Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<BR>


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<P style="font-size: 10pt" align="left"><B>&nbsp;</B>

<P style="font-size: 10pt" align="left"><B>Item&nbsp;8.01 Other Events.</B>

<P style="font-size: 10pt; text-indent: 3%" align="left">On February&nbsp;26, 2009, Spectrum Pharmaceuticals, Inc. (the &#147;Company&#148;) reported, during its investor
conference call, that revenue from the sales of its proprietary drug product, Fusilev<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP>,
launched in August&nbsp;2008,
was approximately $7.7&nbsp;million for the period ended December&nbsp;31, 2008. While shipments of
Fusilev<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP> for the period were approximately $10.8&nbsp;million (net
of estimates for promotional, price and other adjustments), based on the Company&#146;s revenue
recognition policy, the Company has deferred the recognition of approximately $3.1&nbsp;million of such
revenue until the Company has more experience with the amount of product returns.

<P style="font-size: 10pt; text-indent: 3%" align="left">In addition, the Company had cash and marketable securities of approximately $78&nbsp;million as of December&nbsp;31, 2008.

<P style="font-size: 10pt" align="center"><B>SIGNATURES</B>

<P style="font-size: 10pt; text-indent: 3%" align="left">Pursuant to the
requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.

<P style="font-size: 10pt" align="left"><B>February&nbsp;26, 2009</B>

<P style="margin-top: -11pt; font-size: 10pt; margin-left: 45%"
align="left">SPECTRUM PHARMACEUTICALS, INC.

<P style="font-size: 10pt; margin-left: 45%" align="left">By:&nbsp;&nbsp;
<U>/s/ Shyam
Kumaria&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
<br>Name:&nbsp;&nbsp;Shyam Kumaria<BR>Title:&nbsp;&nbsp; V.P.
Finance


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Filed by Bowne Pure Compliance
UNITED STATES
SECURITIES AND
EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to
Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest
event reported): February 26, 2009
SPECTRUM PHARMACEUTICALS,
INC.
(Exact name of registrant as
specified in its charter)
Delaware
000-28782
93-0979187
(State or other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
157 Technology Drive, Irvine,
California
92618
(Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number,
including area code:
(949) 788-6700
Not
Applicable
(Former name or former address if changed since last report.)
Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions:
o
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o
Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01 Other Events.
On February 26, 2009, Spectrum Pharmaceuticals, Inc. (the "Company") reported, during its investor
conference call, that revenue from the sales of its proprietary drug product, Fusilev
®
,
launched in August 2008,
was approximately $7.7 million for the period ended December 31, 2008. While shipments of
Fusilev
®
for the period were approximately $10.8 million (net
of estimates for promotional, price and other adjustments), based on the Company's revenue
recognition policy, the Company has deferred the recognition of approximately $3.1 million of such
revenue until the Company has more experience with the amount of product returns.
In addition, the Company had cash and marketable securities of approximately $78 million as of December 31, 2008.
SIGNATURES
Pursuant to the
requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.
February 26, 2009
SPECTRUM PHARMACEUTICALS, INC.
By:
/s/ Shyam
Kumaria
Name:  Shyam Kumaria
Title:   V.P.
Finance