StockPreacher.com announces an investment report featuring Sunesis Pharmaceuticals Inc. (Nasdaq:SNSS). The report includes financial, comparative and investment analyses, and industry information you need to know to make an educated investment decision.
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. 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. The Company has worldwide development and commercialization rights to voreloxin.
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In the report, the analyst notes:
"Net loss for the fourth quarter of 2009 was $4.0 million and $40.2 million for the year ended December 31, 2009; net loss for the year included non-cash charges of $21.0 million related to the accounting for a tranched private placement, for which the initial $10.0 million was closed in April 2009 and the second $5.0 million was closed in October 2009.
"Revenues for the three months and year ended December 31, 2009, were $12,500 and $3.8 million, as compared to $12,500 and $5.4 million for the same periods in 2008. The decrease of $1.6 million between the annual periods was primarily due to the completion of research funding and technology access fee amortization under the Biogen Idec collaboration in June 2008…"
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