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Sunesis Pharmaceuticals Reports Second Quarter 2012 Financial Results And Highlights

SOUTH SAN FRANCISCO, Calif., Aug. 9, 2012 (GLOBE NEWSWIRE) -- Sunesis Pharmaceuticals, Inc. (Nasdaq:SNSS) today reported financial results for the quarter ended June 30, 2012. Net loss for the three and six months ended June 30, 2012 was $8.6 million and $22.5 million, respectively. As of June 30, 2012, cash, cash equivalents and marketable securities totaled $29.3 million.

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"Next month, the independent Data and Safety Monitoring Board will conduct, in its single pre-planned interim analysis, the first efficacy review of the Phase 3 VALOR trial in acute myeloid leukemia," said Daniel Swisher, Chief Executive Officer of Sunesis. "The DSMB will examine pre-specified unblinded efficacy and safety data sets and decide whether to stop the study early for efficacy or futility, continue the study as planned or implement a one-time sample size adjustment of 225 additional evaluable patients. This important milestone will determine timing of the final outcome of this pivotal study and enable our plans for future regulatory filings and commercialization of vosaroxin."

Mr. Swisher added: "I continue to be pleased with the execution of the VALOR trial. The trial has now enrolled 391 patients, a figure that reflects broad investigator support across our more than 110 clinical sites, and underlines vosaroxin's potential to change the standard of care in this disease. We have also seen progress in our kinase inhibitor collaborations during the quarter. These collaborations allow us to leverage the resources of two leading biopharmaceutical companies, Biogen Idec and Millennium Pharmaceuticals, to advance a broader product pipeline while we focus our resources on vosaroxin and the VALOR trial."

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