SOUTH SAN FRANCISCO (

TheStreet

) --

Sunesis Pharmaceuticals

(SNSS) - Get Report

shares jumped Monday on above-average volume, continuing a three-day rally sparked by positive data on its leukemia drug.

Sunesis Pharmaceuticals last week reported positive Phase II data for its leukemia drug voreloxin. On Friday, a

Reuters

article offered speculation about a possible partnership on the drug and the positive trial data. Sunesis Pharmaceuticals' CFO Eric Bjerkholt told

Reuters

that the company was exploring alternatives for funding, and partnerships is one of the alternatives that are being explored.

Shares of Sunesis were climbing by 31 cents, or 18%, to $2.03. At the start the session, the stock touched an intraday high of $2.34. The stock has nearly quadrupled over the previous five trading sessions. More than 6.2 million shares changed hands by 9:55 a.m. EST Monday, compared to the stock's 50-day average daily volume of 2.9 million, according to the

Nasdaq

.

Sunesis has a 23.2 million-share float with 45,000 shares short as of Nov. 30, according to Yahoo! Finance. Insiders hold 47.5% of the company's shares, with another 13.9% owned by institutions.

-- Written by Robert Holmes in Boston

.

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