Sunesis Pharma: Plunges on stopping lead cancer drug development

Viracta Therapeutics

23/06/2020 14:26

** Shares of drug developer  SNSS.O  plunge 48% to 32 cents
premarket
    ** Company will not advance its lead cancer drug,
vecabrutinib, into planned Phase 2 of early-stage trial in
adults with a type of blood cancer and other B-cell tumors
 urn:newsml:reuters.com:*:nGNX2tzSQf
    ** Data showed insufficient evidence of vecabrutinib's
activity against cancer cells and one partial remission was
observed
    ** Company to complete ongoing phase of trial and evaluate
the best path forward for vecabrutinib - SNSS
    ** SNSS is shifting resources and development focus to its
other experimental cancer treatment, SNS-510, and plans to file
an Investigational New Drug application by end of 2020 
    ** Stock up ~88% this year, as of last close

 (Reporting by Mrinalika Roy in Bengaluru)
 ((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 806749 8325;))