DALLAS, Feb. 16, 2010 (GLOBE NEWSWIRE) -- StockPreacher.com announces an investment report featuring Sunesis Pharmaceutical Inc. (Nasdaq:SNSS). The report includes financial, comparative and investment analyses, and industry information you need to know to make an educated investment decision.
The full report is available at: http://www.stockpreacher.com/n/SNSS
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Sunesis Pharmaceuticals Inc. (SNSS) is a biopharmaceutical company focused on the development and commercialization of new oncology therapeutics for the treatment of hematologic and solid tumor cancers. As of December 31, 2008, the Company was advancing voreloxin through phase II development. Voreloxin is an anticancer quinolone derivative (AQD). As of December 31, 2008, SNSS was conducting three clinical trials of voreloxin: a phase II clinical trial (known as the REVEAL-1 trial) in previously untreated elderly patients with acute myeloid leukemia (AML), a phase Ib/2 clinical trial combining voreloxin with cytarabine for the treatment of patients with relapsed/refractory AML, and a phase II single agent clinical trial in advanced platinum-resistant ovarian cancer patients.
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In the report, the analyst notes:
"Net loss was $4.9 million for the third quarter of 2009 and $36.2 million for the nine months ended September 30, 2009. The year-to-date net loss included non-cash charges of $21.0 million related to the accounting for the initial closing of a tranched private placement of SNSS' securities completed in April. Loss from operations for this nine-month period, excluding these charges, was $15.1 million.
"SNSS last week announced that it has granted Carmot Therapeutics Inc., a privately held biotechnology company, an exclusive license to its proprietary Fragment-Based Lead Discovery (FBLD) technology. Carmot will use the FBLD technology, called "Chemotype Evolution," for identifying promising drug candidates in a broad range of therapeutic areas, including inflammatory, metabolic and neurodegenerative diseases. SNSS retains full rights to the technology for use in its future internal discovery efforts. Terms of the agreement were not disclosed."
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