Secondary Stock OfferingsBy The Online Investor Staff, updated Sun., Jan. 20, 8:22 AM
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Slide #2. Sunesis Pharmaceuticals, Inc. — Secondary Offering
Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS)
Secondary Offering Details:
Sunesis Pharmaceuticals, Inc. (NASDAQ: SNSS) today announced that it intends to offer and sell, subject to market and other conditions, shares of its common stock and Series E Convertible Preferred Stock in underwritten public offerings. There can be no assurance as to whether or when the proposed offerings may be completed, or as to the actual size or terms of the offerings. Sunesis also expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the number of shares of common stock offered in the public offering to cover over-allotments, if any. Sunesis anticipates using the net proceeds from the proposed offerings to fund ongoing development of vecabrutinib, ongoing research and development, debt amortization, and general corporate purposes.
Sunesis Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of new therapeutics for the treatment of cancer. Co.'s primary activities are conducting research and development internally and through corporate collaborators, in-licensing and out-licensing pharmaceutical compounds and technology, conducting clinical trials and raising capital. Co.'s primary program is vecabrutinib, a non-covalent inhibitor of Bruton's Tyrosine Kinase. Co. is also developing SNS-510, a phosphoinositide-dependent kinase-1 inhibitor licensed from Millennium Pharmaceuticals, Inc., a wholly-owned subsidiary of Takeda Pharmaceutical Company Limited.
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Buy (3.00 out of 4)
(ranked lower than approx. 67% of all stocks covered)
Based on Zacks ABR data;
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