Replies to post #729 on Sunesis Pharmaceuticals (SNSS)

[StockJoe99]

My thoughts on SNSS are this.

#1) The company needs to get back over $1 to meet Nasdaq listing requirements.

#2) The company just issued options to significantly dilute current shares.

Why would you announce #2 with #1 hanging over your head? Is the company brain dead, are they planning a reverse split?

I believe it's because of #3

#3) The company is about to announce positive results at ASCO.

I strongly believe that the only reason the company would announce #2 is because they are convinced that #3 is going to be such a game changing event, that #1 will become a non-issue, even with the potential dilution.

Anyway, that's MO.

[califax]

http://ih.advfn.com/p.php?pid=nmona&article=42944285 ...

SOUTH SAN FRANCISCO, CA -- (Marketwire)
05/24/10
Sunesis Pharmaceuticals, Inc. (NASDAQ: SNSS) today announced that it will host a conference call on Tuesday, June 8, 2010 at 9:00 a.m. Eastern time to review the data from the Phase 2 clinical trials of voreloxin in acute myeloid leukemia (AML) and ovarian cancer, scheduled to be presented at the 2010 American Society of Clinical Oncology (ASCO) Annual Meeting on June 7, 2010 in Chicago, Illinois.

Oral Podium Presentation: Final data from the Phase 2 study of voreloxin in women with platinum-resistant ovarian cancer will be presented on Monday, June 7, 2010 during the Gynecologic Cancer Clinical Science Symposium at 9:45 a.m. local time in the E Arie Crown Theater (Abstract #5002).

################################################################################################

http://www.marketwatch.com/story/novartis-ovarian-cancer-drug-filings-wont-proceed-2010-05-27?siteid=yhoof2

May 27, 2010, 2:18 a.m. EDT
Novartis ovarian cancer drug filings won't proceed

LONDON (MarketWatch) -- Swiss drugmaker Novartis said Thursday that patupilone did not show a significant overall survival advantage in a phase III trial of patients with advanced ovarian cancer, refractory or resistant to platinum-based therapy. The primary endpoint of the trial was overall survival. Secondary endpoints included progression-free survival, safety and overall response rate. No new or unexpected serious adverse events in the patupilone arm were identified in the trial. Novartis does not plan to proceed with regulatory filings based on these data.