<PAGE>


                                                                    EXHIBIT 10.2

To:      Each of the Purchasers named on Schedule 1 to the Purchase Agreement
         (as defined below),

         and

         Spectrum Pharmaceuticals, Inc.
         157 Technology Drive
         Irvine, California 92618
         Att'n: CEO

                  Re: Lock-up Agreement - Preferred Stock and Warrant Purchase
                      Agreement

Dear Sirs/Madams:

         The undersigned, being an officer of Spectrum Pharmaceuticals, Inc., a
Delaware corporation (the "Seller") understands that (i) the Seller and each of
the Purchasers named on Schedule 1 attached thereto proposes to enter into a
Preferred Stock and Warrant Purchase Agreement (the "Purchase Agreement") and
certain other agreements (together with the Purchase Agreement, the
"Transaction"), pursuant to which the Purchasers will acquire up to 2,000 shares
of the Seller's newly designated Series E Convertible Voting Preferred Stock,
which are convertible into up to 4,000,000 shares of Common Stock (subject to
adjustment in certain circumstances), and warrants, including certain warrants
issuable to the placement agent pursuant to a financial advisory agreement
between the Seller and such placement agent (all such warrants, the "Warrants")
to purchase up to 3,200,000 shares of Common Stock (subject to adjustment in
certain circumstances). The undersigned understands that each Purchaser is
willing to proceed with this transaction only if the undersigned and all other
officers of the Seller severally agree to this Lock-up Agreement. As used
herein, "Common Stock" includes any securities convertible into or exchangeable
for, with or without the payment of additional consideration, Common Stock. For
purposes of this letter, "officer" means all officers who are required to report
any beneficial ownership of the Seller's securities pursuant to Section 16 of
the Securities Exchange Act of 1934, as amended (the "Exchange Act")

         The undersigned hereby warrants and represents as follows:

                  (i)      The undersigned is familiar with the terms of the
                           Transaction, and the undersigned has had the
                           opportunity to discuss in detail the terms of the
                           Transaction with the other officers of the Seller;

                  (ii)     The undersigned is beneficial owner of _________
                           shares of Common Stock, including shares owned in any
                           individual retirement account; and

                  (iii)    The undersigned has the full authority and capacity
                           to enter into and carry out all the terms of this
                           Lock-up Agreement, and the undersigned is not

<PAGE>

                           subject to or bound by any agreement or instrument,
                           or the order of any court or other governmental
                           authority which in any way restricts the
                           undersigned's authority or capacity to enter into and
                           carry out all the terms of this Lock-up Agreement.

         To induce each of the Purchasers and the Seller to enter into the
Purchase Agreement and the other agreements constituting the Transaction, and to
carry out the Transaction, and in consideration of the consummation of the
Transaction, the undersigned irrevocably agrees that the undersigned will not,
directly or indirectly,

         (1)      offer for sale, sell, pledge, assign, hypothecate or otherwise
                  create any interest in or dispose of (or enter into any
                  transaction or device that is designed to, or could reasonably
                  be expected to, result in any of the foregoing) any shares of
                  Common Stock (including, without limitation, shares of Common
                  Stock that the undersigned "beneficially owns" as defined in
                  Section 13(d) of the Exchange Act and the rules and
                  regulations of the Securities and Exchange Commission
                  thereunder, and shares of Common Stock that may be issued upon
                  exercise of any option or warrant, or upon the occurrence of
                  any future contingency) or securities convertible into or
                  exchangeable for (with or without the payment of any
                  additional consideration) Common Stock during the Lock-up
                  Period (as defined below), or

         (2)      enter into any swap or other derivatives transaction that
                  transfers to another, in whole or in part, any of the economic
                  benefits or risks of ownership of such shares of Common Stock,
                  including, but not limited to, short sales, puts, calls or
                  other hedging transactions, including private hedging
                  transactions,

whether any such transaction described in clause (1) or (2) above is to be
settled by delivery of Common Stock or other securities, in cash or otherwise,
during the Lock-up Period (as hereinafter defined).

         As used herein, the "Lock-up Period" shall mean the period commencing
on the date of the Closing of the Transaction ("Closing Date"), and ending on
the date that the Registration Statement (as defined in the Registration Rights
Agreement, dated as of September 26, 2003, among the Company and the persons
listed in Schedule 1 thereto) is declared effective by the Securities and
Exchange Commission.

         The Seller and its transfer agent are authorized to decline to make any
transfer of securities if such transfer would constitute a violation or breach
of this Lock-up Agreement.

         The undersigned understands that Seller will proceed with the
Transaction in reliance on this Lock-up Agreement. The undersigned understands
and agrees that any shares of Common Stock which the undersigned acquires
hereafter under any circumstances shall be, without the necessity the execution
of any further document or instrument or any further act, covered by this
Lock-up Agreement.

                                        2

<PAGE>

         Notwithstanding the foregoing, the undersigned may transfer any shares
of Common Stock or any securities convertible into or exchangeable or
exercisable for or deriving from shares of Common Stock during the undersigned's
lifetime or, upon the undersigned's death by will or intestacy, to the
undersigned's immediate family or trusts or other entities of which the
undersigned's immediate family are the only beneficiaries; provided, however,
that (i) prior to any transfer each transferee shall execute a copy of this
agreement and become bound thereby, and (ii) no such transfer, singly or in the
aggregate with other transfers, shall require the registration under the
Securities Act of 1933, as amended, of the shares so transferred. For the
purposes of this paragraph, "immediate family" shall mean the undersigned's
spouse, lineal descendants, parents and siblings.

         The undersigned agrees that the undersigned will execute any additional
documents reasonably necessary or related to the enforcement of this Lock-up
Agreement. The undersigned's obligations under this Lock-up Agreement shall be
binding upon the undersigned's heirs, personal representatives, successors and
assigns. The undersigned agrees that this Lock-up Agreement shall be governed
and construed in accordance with the internal law of the State of New York,
without regard to conflicts-of-laws principles.

Dated: September 26, 2003                       Very truly yours,

                                                        ________________________
                                                        Signature

                                                        ________________________
                                                        Print Name

Members of Management Executing Lock-Up Agreements:

Rajesh C. Shrotriya, M.D.
Luigi Lenaz, M.D.
John L. McManus
Michael P. McManus

                                        3