TICKERS: SNSS

Sunesis Pharmaceuticals Shifts Focus to Leukemia Drug

Source:

In light of a decision to pull its application for approval of vosaroxin in the European Union, Sunesis Pharmaceuticals has designated its BTK inhibitor program targeting chronic lymphocytic leukemia as its new lead program.

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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