UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 11-K

ANNUAL REPORT
PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

(Mark One):

þ		ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2006

OR

o		TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from            to

Commission File Number 000-28782

SPECTRUM PHARMACEUTICALS, INC. 401(K) PLAN

SPECTRUM PHARMACEUTICALS, INC.
157 Technology Drive
Irvine, California 92618

 

 

REQUIRED INFORMATION

     Item 1-3. The Spectrum Pharmaceuticals, Inc. 401(k) Plan (the “Plan”) is subject to the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). Therefore, in lieu of the requirements of Items 1-3 of Form 11-K, attached are the financial statements of the Plan for the fiscal period ended December 31, 2006, which have been prepared in accordance with the financial reporting requirements of ERISA.

     Item 4. Pursuant to Section 103(c) of ERISA, and the regulations thereunder, the Plan is not required to file audited financial statements, because the Plan has fewer than 100 participants.

STATEMENT OF INCOME AND EXPENSES
Year Ending December 31, 2006

INCOME
Contribution — Company Matching (co. stock)		$	132,231
Contribution — Participant 401(k)			261,716
Investment Earnings			125,860
Cash Value of Surrendered Insurance			0
Realized Gain From Asset Sale			0
Insurance Premium Refunds			0
Other Income — Rollovers			104,907
Unrealized Appreciation of Assets			0
Total Income		$	624,714
EXPENSES
Life Insurance Premiums Paid		$	0
Payments to Participants			53,808
Bank Charges			0
Brokerage Fees			0
Administration Expenses Paid By the Trust			0
Other Miscellaneous Expenses			25
Total Expenses		$	53,833
Income Over Expenses		$	570,881
Assets At The Beginning Of The Plan Year			673,405
Assets At The End Of The Plan Year		$	1,244,286

PLAN ASSETS AND LIABILITIES

		As of				As of
		January 1, 2006				December 31, 2006
ASSETS
Cash (Interest Bearing)		$	94,819			$	127,183
Contribution Receivable — (Co. Match)			74,910				31,138
Contribution Receivable — (401-K)			0				13,595
Government Securities			0				0
Mutual Funds			474,418				787,983
Corporate Stocks & Bonds — (Employer Stock)			0				212,126
Real Estate and Mortgages			0				0
Depreciable Buildings/Property			0				0
Participant Loans			29,258				72,261
Other Assets			0				0
Total Assets		$	673,405			$	1,244,286
LIABILITIES
Payables			0				0
Acquisition Indebtedness			0				0
Other Liabilities			0				0
Total Liabilities		$	0			$	0
NET ASSETS (Assets Less Liabilities)		$	673,405			$	1,244,286

SPECTRUM PHARMACEUTICALS, INC. 401(K) PLAN

SIGNATURES

     The Plan. Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the Plan) have duly caused this annual report to be signed by the undersigned thereunto duly authorized, in the City of Irvine, State of California, on the 16th day of October, 2007.