Spectrum Pharmaceuticals (NASDAQ:SPPI) shareholders got some great news when Spectrum Pharmaceuticals announced that the FDA approved its drug Beleodaq five weeks before its scheduled PDUFA date. But the stock dropped anyway -- 3% by the end of the day -- after some gains in pre-market.

The big question investors are asking now, of course, is what this approval means for Spectrum. In the video below, Motley Fool health care analysts Michael Douglass and David Williamson give their take on the news and the stock.

David Williamson has no position in any stocks mentioned. Michael Douglass has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.