Sunesis Pharmaceuticals (SNSS) Misses Q2 EPS by 3c

Sunesis Pharmaceuticals (NASDAQ: SNSS) reported Q2 EPS of ($0.20), $0.03 worse than the analyst estimate of ($0.17). Revenue for the quarter came in at $2 million versus the consensus estimate of $1.32 million.

"As we near unblinding of our pivotal, Phase 3 VALOR trial in first relapsed or refractory AML, an increasing focus of our resources is the advancement of our QINPREZO™ regulatory, commercial and lifecycle management strategies," said Daniel Swisher, Chief Executive Officer of Sunesis. "With the recently announced acceptance by the EMA of a Pediatric Investigation Plan, our regulatory strategies in both Europe and the U.S. are now well defined. On the commercial front, we continue to make significant progress as we refine the key elements of a comprehensive U.S. commercial plan and build out a preeminent oncology team with key hires."

Mr. Swisher added: "Having now reached the prespecified number of events, we continue to expect unblinding of the VALOR trial in the second half of 2014. Our progress with the QINPREZO program, together with our growing pipeline of novel and differentiated therapeutic programs and a strong balance sheet, position Sunesis to reach our goal of becoming a leading, integrated oncology company."

For earnings history and earnings-related data on Sunesis Pharmaceuticals (SNSS) click here.

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