Sunesis Pharmaceuticals (SNSS)

[G37S]

Sunesis Pharmaceuticals Reports Second Quarter 2010 Financial Results

SOUTH SAN FRANCISCO, CA, Aug 12, 2010 (MARKETWIRE via COMTEX) -- Sunesis Pharmaceuticals, Inc. /quotes/comstock/15*!snss/quotes/nls/snss (SNSS 0.42, -0.06, -12.48%) today reported financial results for the second quarter ended June 30, 2010. Net loss was $4.8 million for the second quarter of 2010. For the first half of 2010, net loss was $9.4 million. As of June 30, 2010, Sunesis had cash and cash equivalents of $49.3 million.

"The second quarter was an important period for Sunesis, as we reached key clinical, regulatory and financial milestones leading up to the launch of our planned Phase 3 pivotal trial of vosaroxin in acute myeloid leukemia in the second half of this year," said Daniel Swisher, Chief Executive Officer of Sunesis. "During the period, important Phase 2 data on vosaroxin's activity and safety in AML and ovarian cancer were presented at the ASCO annual meeting, we received scientific advice from the EMA on our proposed development plans for vosaroxin, and we strengthened our balance sheet. We continue to make progress toward the initiation of our pivotal Phase 3 trial, known as the VALOR trial, and are working toward ensuring its successful launch and execution."