In a May 1 research report, Wells Fargo expressed the view that SNS062, the Sunesis Pharmaceuticals Inc. (SNSS:NASDAQ) drug in development for patients with chronic lymphocytic leukemia (CLL) that is resistant to Imbruvica (ibrutinib), is "a greater value driver for the stock."
The report notes that company resources directed toward gaining approval from the European Medicines Agency for vosaroxin, which targets acute myeloid leukemia, will now be directed toward a clinical trial for SNS062.
"We see significant upside potential on novel BTK inhibitor SNS062 in the large IMBRUVICA resistance market and with potential validation by YE17," the Wells Fargo report concludes.
In a May 10 report, Edison Investment Research states that Sunesis "will be initiating a Phase Ib/II clinical trial in Q217" for SNS062. The study is expected to read out in September 2018.
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1) Tracy Salcedo compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own shares of the following companies mentioned in this article: None. She or members of her household are paid by the following companies mentioned in this article: None.
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Disclosures from Wells Fargo, Sunesis Pharmaceuticals Inc., May 1, 2017
I certify that:
1) All views expressed in this research report accurately reflect my personal views about any and all of the subject securities or issuers discussed; and
2) No part of my compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed by me in this research report.
--Wells Fargo Securities, LLC maintains a market in the common stock of Sunesis Pharmaceuticals, Inc.
--Wells Fargo Securities, LLC or its affiliates managed or comanaged a public offering of securities for Sunesis Pharmaceuticals, Inc. within the past 12 months.
--Wells Fargo Securities, LLC or its affiliates intends to seek or expects to receive compensation for investment banking services in the next three months from Sunesis Pharmaceuticals, Inc.
--Wells Fargo Securities, LLC or its affiliates received compensation for investment banking services from Sunesis Pharmaceuticals, Inc. in the past 12 months.
--Sunesis Pharmaceuticals, Inc. currently is, or during the 12-month period preceding the date of distribution of the research report was, a client of Wells Fargo Securities, LLC. Wells Fargo Securities, LLC provided investment banking services to Sunesis Pharmaceuticals, Inc.
--A member of the research analyst's household is currently an employee of BioMarin Pharmaceutical, Inc. and has received compensation from the company in the previous 12 months.
Wells Fargo Securities, LLC does not compensate its research analysts based on specific investment banking transactions. Wells Fargo Securities, LLC’s research analysts receive compensation that is based upon and impacted by the overall profitability and revenue of the firm, which includes, but is not limited to investment banking revenue.
Disclosures from Edison Investment Research, Sunesis Pharmaceuticals, May 10, 2017
Edison has a restrictive policy relating to personal dealing. Edison Group does not conduct any investment business and, accordingly, does not itself hold any positions in the securities mentioned in this report. However, the respective directors, officers, employees and contractors of Edison may have a position in any or related securities mentioned in this report. Edison or its affiliates may perform services or solicit business from any of the companies mentioned in this report.