Edison Issues Outlook on Sunesis Pharmaceuticals (SNSS)

LONDON, UK / ACCESSWIRE / March 22, 2019 / Sunesis Pharmaceuticals, Inc. (NASDAQ: SNSS) is currently in the dose-escalation portion of the Phase Ib/II study of its BTK inhibitor vecabrutinib, and the first signs of clinical efficacy are expected in the upcoming doses. The drug is being tested in a range of B-cell malignancies where BTK inhibitors have historically shown some activity. The company will provide its next clinical update at the European Hematology Association (EHA) Congress in June 2019. In this note we review the clinical data to date and provide our clinical outlook.

Our valuation remains relatively unchanged at $241m (from $243m) albeit slightly lower per share ($2.92 diluted from $2.97). We expect to update our valuation with increasing data released from the ongoing vecabrutinib study. We forecast that the company will need an additional $115m in capital to reach profitability in 2023.

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