Penny Stock to Watch Sunesis Pharmaceuticals, Inc. (NASDAQ: SNSS) is now covered by analysts at Canaccord Genuity. Sunesis is a biopharmaceutical company focused on the development and commercialization of new oncology therapeutics for the treatment of solid and hematologic cancers. With the recent surge VVUS had after FDA approval, betting on penny stock biotechs with new drugs pending FDA approval may have just become the best stock play in the market.
Canaccord Genuity set a “buy” rating and a $4.00 price target on Sunesis Pharmaceuticals, Inc. (NASDAQ: SNSS). Shares in SNSS rose as high as $2.70 after the news of the upgrade before closing at $2.26, up 0.22 (+10.78%).
Most Recent Quarter (mrq): Sep 30, 2011
Market Cap: 105.57M
52-Week High (Jun 2, 2011): 3.16
52-Week Low (Oct 4, 2011): 1.01
Avg Vol (3 month): 190,603
Avg Vol (10 day): 508,014
Shares Outstanding: 46.71M
% Held by Insiders: 37.20%
Revenue (ttm): 5.01M
Revenue Per Share (ttm): 0.11
Total Cash (mrq): 41.76M
Total Cash Per Share (mrq): 0.89
SNSS Stock Chart:
Sunesis has built a highly experienced cancer drug development organization committed to advancing its lead product candidate, vosaroxin, in multiple indications to improve the lives of people with cancer.
The company is currently evaluating vosaroxin in their Phase 3 VALOR trial, a multi-national, randomized, double-blind, placebo-controlled, pivotal trial of vosaroxin in combination with cytarabine in patients with relapsed or refractory AML.
SNSS is in the survival follow-up stage of two fully-enrolled clinical trials of vosaroxin:
- the Phase 2 portion of a Phase 1b/2 trial of vosaroxin in combination with cytarabine for the
treatment of patients with first relapsed or primary refractory AML, and
- a Phase 2 trial (known as REVEAL-1) in previously untreated elderly patients with AML,
which explored three different dose schedules.
In addition, we completed a Phase 2 single agent trial of vosaroxin in platinum-resistant ovarian cancer patients in 2010, which explored three different dose cohorts.
Vosaroxin has demonstrated objective tumor responses in a variety of tumor types and has been generally well tolerated. Clinical responses with single agent vosaroxin have been seen in these indications, as well as in non-small cell and small cell lung cancers.
In addition, complete remissions have been observed in AML patients treated with vosaroxin in combination with cytarabine.
Vosaroxin is a replication-dependent DNA-damaging agent that induces G2 arrest and apoptosis (cell death). As a result, cancer cells, which are typically proliferative and resistant to pathways that eliminate damaged or aberrant cells, are no longer able to divide and the cells die.
Based on the company’s translational research and our understanding of Vosaroxin’s mechanism of action, vosaroxin has the potential to combine with other anticancer agents for the treatment of both advanced and earlier stage disease.
Add SNSS to your Stock Watch List Immediately and Begin Your Research Quickly because the FDA is wrking rather quickly today and you wouldn’t want to miss out on SNSS.Share