Sunesis Pharmaceuticals – SNSS – Well positioned to capitalize on the value of vosaroxin

Sunesis Pharmaceuticals, Inc. (Nasdaq:SNSS) today reported financial results for the fourth quarter and year ended December 31, 2011. SNSS net loss for the three months and year ended December 31, 2011 was $8.7 million and $20.1 million, respectively. As of December 31, 2011, SNSS cash, cash equivalents and marketable securities totaled $44.1 million.

“Thanks to the continuing successful execution of our strategic plan, Sunesis today is well positioned to capitalize on the value of vosaroxin, which we believe is the most advanced and promising therapy in development for acute myeloid leukemia,” said Daniel Swisher, Chief Executive Officer of Sunesis. “In support of our future objectives, we have advanced all aspects of our pivotal vosaroxin program, including enrollment of 260 patients to date in our Phase 3 VALOR trial, which is progressing toward an interim analysis in the third quarter of this year; built significant financial flexibility, having executed a $25 million tranched debt financing facility in the fourth quarter; and recently expanded our intellectual property estate, supporting commercial and development runway to 2030. We also entered into a partnership with Millennium Pharmaceuticals in March 2011 for the pan-Raf kinase inhibitor MLN2480, and announced initiation of a Phase 1 study in September 2011.”

Mr. Swisher added: “2012 promises to be a transformational year for Sunesis, as we advance the VALOR trial through the interim analysis, progress towards regulatory filings and prepare the market for the planned launch of vosaroxin in AML.”

About VALOR

VALOR is a Phase 3, randomized, double-blind, placebo-controlled, pivotal trial in patients with first relapsed or refractory AML. The trial is expected to enroll 450 evaluable patients at more than 110 leading sites in the U.S., Canada, Europe, Australia and New Zealand. The VALOR trial is currently enrolling patients, who are randomized one to one to receive either vosaroxin on days one and four in combination with cytarabine daily for five days, or placebo in combination with cytarabine. Additionally, the VALOR trial employs an innovative, adaptive trial design that allows for a one-time sample size adjustment by the DSMB at the interim analysis to maintain adequate power across a broader range of survival outcomes. The trial’s primary endpoint is overall survival.

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Post Written By: Ed Liston Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.