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$SNSS #5 Sunesis Pharmaceuticals Reports Second Quarter 2020 Financial Results and Recent Highlights
Sunesis to Host Conference Call Today at 4:30 PM Eastern Time

http://www.globenewswire.com/news-release/2020/08/11/2076704/0/en/Sunesis-Pharmaceuticals-Reports-Second-Quarter-2020-Financial-Results-and-Recent-Highlights.html

SOUTH SAN FRANCISCO, Calif., Aug. 11, 2020 (GLOBE NEWSWIRE) --
Sunesis Pharmaceuticals, Inc. (Nasdaq: SNSS) today reported financial results for the second quarter ended June 30, 2020.

Loss from operations for the three months ended June 30, 2020 was $6.3 million.

As of June 30, 2020, cash, cash equivalents and restricted cash totaled $23.2 million.

=======================================================
SUNESIS PHARMACEUTICALS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
AND COMPREHENSIVE LOSS
(In thousands, except per share amounts)

Three months ended
June 30, Six months ended
June 30,
2020
2019
2020
2019
(Unaudited) (Unaudited)
Revenue:
License and other revenue $ - $ - $ 120 $ -
Total revenues - - 120 -

Operating expenses:
Research and development 4,281 3,683 7,971 6,931
General and administrative 2,064 2,523 4,292 4,962
Total operating expenses 6,345 6,206 12,263 11,893

Loss from operations (6,345 ) (6,206 ) (12,143 ) (11,893 )

Interest expense (65 ) (111 ) (135 ) (372 )
Other income, net 20 76 113 164
Net loss (6,390 ) (6,241 ) (12,165 ) (12,101 )
Unrealized loss on available-for-sale securities - - (1 ) -
Comprehensive loss $ (6,390 ) $ (6,241 ) $ (12,166 ) $ (12,101 )

Basic and diluted loss per common share:
Net loss $ (6,390 ) $ (6,241 ) $ (12,165 ) $ (12,101 )
Shares used in computing basic and diluted loss per common share 111,416 72,190 111,405 65,702

Basic and diluted loss per common share $ (0.06 ) $ (0.09 ) $ (0.11 ) $ (0.18 )



SUNESIS PHARMACEUTICALS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)

June 30, December 31,
2020 2019
(Unaudited) (1)

ASSETS
Current assets:
Cash and cash equivalents $ 17,653 $ 12,761
Restricted cash 5,500 5,500
Marketable securities - 16,364
Prepaids and other current assets 1,712 1,697
Total current assets 24,865 36,322
Property and equipment, net - 3
Operating lease right-of-use asset 545 817
Other assets 96 98
Total assets $ 25,506 $ 37,240

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable $ 452 $ 791
Accrued clinical expense 402 521
Accrued compensation 692 985
Other accrued liabilities 1,836 1,109
Notes payable 5,473 5,465
Operating lease liability - current 545 545
Total current liabilities 9,400 9,416
Other liabilities - 9
Operating lease liability - long term - 272
Total liabilities 9,400 9,697
Stockholders’ equity:
Convertible preferred stock 11,769 11,769
Common stock 11 11
Additional paid-in capital 699,291 698,562
Accumulated other comprehensive income - 1
Accumulated deficit (694,965 ) (682,800 )
Total stockholders’ equity 16,106 27,543
Total liabilities and stockholders’ equity $ 25,506 $ 37,240

Note 1: The consolidated balance sheet as of December 31, 2019 has been derived from the audited financial statements as of that date included in the Company's Annual Report on Form 10-K for the year ended December 31, 2019.



Investor and Media Inquiries:
Maeve Conneighton
Argot Partners
212-600-1902 Par Hyare
Sunesis Pharmaceuticals Inc.
650-266-3784

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Sunesis Pharmaceutic (SNSS)

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