McNicoll Lewis & Vlak Starts Sunesis Pharmaceuticals (SNSS) at Buy; Vosaroxin in Pivotal Phase III AML Trial

September 29, 2011 10:12 AM EDT
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Price: $3.85 --0%

Rating Summary:
    6 Buy, 4 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 4 | Down: 5 | New: 17
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McNicoll Lewis & Vlak initiates coverage on Sunesis Pharmaceuticals (NASDAQ: SNSS) with a Buy. PT $3.50.

MLV analyst said, "The company’s lead drug candidate, vosaroxin, is a quinolone derivative currently being evaluated in a pivotal Phase III trial called VALOR for the treatment of relapsed and refractory acute myeloid leukemia (AML)...We believe the interim data review of VALOR has the potential of being a catalyst for Sunesis’ stock. The trial could be stopped early due to efficacy, the best possible outcome, or due to futility, the worst possible outcome. More likely, we believe the trial will continue as planned with possible product launch in 2014."

"Although vosaroxin is Sunesis’ only significant asset at this time, we think Phase I/II trial results suggest it is an active drug and that the adaptive design of VALOR increases the probability of a successful trial."

For more ratings news on Sunesis Pharmaceuticals click here and for the rating history of Sunesis Pharmaceuticals click here.

Shares of Sunesis Pharmaceuticals closed at $1.22 yesterday.

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