Sunesis Pharmaceuticals (SNSS) Stock rises in Tuesday’s Session
Sunesis Pharmaceuticals (OTC: SNSS) stock closed Tuesday at $3.49, up 32.20 percent from its previous close of $2.64. The stock opened the session at $3.86 and touched its highest price point at $4.02. SNSS’s lowest price point for the session stood at $3.43. Its latest trading volume has been recorded at 8.85 million shares, in contrast to the average daily trading volume of 420K shares. The company’s market capitalization stands at $164.39 million. SNSS reported its latest Earnings per Share at -$0.78. The company has 47.10 million shares outstanding in the market and 62 percent of its share capital is owned by institutional investors. SNSS stock is currently trading below its short-term 20-days moving average price of $3.5. It is also trading above its long-term 50-days moving average price of $3.52. The company stock’s beta is 2.14.
SNSS has been rated a Buy by Equity Research firm Cantor Fitzgerald. The stock’s price target has been set at $8.00. SNSS stock was earlier priced at $6.00.
The company also made one time sample size increase to its Phase 3 Valor trial. The therapy is being tested for the treatment of acute myeloid leukemia. Daniel Swisher, CEO of the company said, “Importantly, we are pleased that we have committed funding that will allow us to implement this enrollment expansion and complete the pivotal trial in AML.” The one time increase consists of 225 new patients. With this increase, the total patients enrolled in the study are increased to 675.
SNSS is a biopharmaceutical company engaged in the business of developing and marketing oncology therapies. The company has many drug candidates in the pipeline including Vosaroxin. SNSS is carrying out various studies such as REVEAL-1 and VALOR for testing the drugs. The company has licensing arrangement with Dainippon Sumitomo for developing and commercializing Vosaroxin. The company is also involved in the development of small molecular inhibitors. SNSS is collaborating with Biogen Idec Inc. for this purpose. The company’s former name is Mosaic Pharmaceuticals Inc.
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