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Sunesis Pharmaceuticals Reports Fourth Quarter And Full-Year 2013 Financial Results And Recent Highlights

Stocks in this article: SNSS

Phase 1b/2 Data From MD Anderson Sponsored Study of Vosaroxin in AML and High-Risk MDS to be Presented at the AACR Annual Meeting 2014 Sunesis to Host Conference Call Today at 11:00AM Eastern Time

SOUTH SAN FRANCISCO, Calif., March 6, 2014 (GLOBE NEWSWIRE) -- Sunesis Pharmaceuticals, Inc. (Nasdaq:SNSS) today reported financial results for the fourth quarter and year ended December 31, 2013. Loss from operations for the three months and year ended December 31, 2013 was $7.6 million and $31.8 million, respectively. As of December 31, 2013, cash, cash equivalents and marketable securities totaled $39.3 million. On March 4, 2014, Sunesis closed an underwritten public offering for net proceeds of approximately $40.0 million.

Sunesis also announced today that updated data from the ongoing Phase 1b/2 University of Texas MD Anderson Cancer Center-sponsored study of vosaroxin in combination with decitabine in older patients with previously untreated acute myeloid leukemia (AML) and high-risk myelodysplastic syndrome (MDS) will be presented at the American Association for Cancer Research Annual Meeting 2014 (AACR) on April 8 in San Diego, California. The abstract (#CT307), which includes preliminary results, can be found on the AACR website.

"Vosaroxin is one of the most advanced and promising therapies in development for AML today, and with a transformative year ahead, we will look to realize its ability to change the global standard of care in this disease," said Daniel Swisher, Chief Executive Officer of Sunesis. "This goal centers on the unblinding of VALOR, expected in the third quarter of 2014, and will be supported by data from investigator- and company-sponsored trials, beginning with the MD Anderson-sponsored Phase 1b/2 study presentation at AACR in April. A positive VALOR data readout will begin Sunesis' transition from a development-stage to a commercial-ready company."

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