Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS) announced that the company intends to submit a Marketing Authorization Application (MAA) for vosaroxin as a treatment for acute myeloid leukemia (AML) with the European Medicines Agency (EMA) by the end of 2015.
The company recently announced that it met separately with the Rapporteur (United Kingdom) and Co-Rapporteur (Netherlands) assigned to provide advice and guidance to the company through the MAA process. Based on these discussions, the company is proceeding with an MAA filing for the indication of relapsed/refractory AML in patients age 60 years and older, a population with the greatest medical need and for whom the greatest benefit was observed in the vosaroxin/cytarabine treatment arm of VALOR, the company’s pivotal Phase 3 study of vosaroxin and cytarabine in adult patients with relapsed or refractory AML.
“The filing of an MAA for vosaroxin in Europe by year end is our top corporate priority. As for the U.S., we are refining a plan to find a timely path towards market,” said Daniel Swisher, Chief Executive Officer of Sunesis. “With these efforts underway, we also expect to achieve meaningful progress in our kinase inhibitor pipeline, including data presentations at the upcoming November AACR-NCI-EORTC Conference in Boston. Among those being highlighted at the conference is our second generation, differentiated BTK program, SNS-062.”
Sunesis also announced today changes to the executive management team. Chief Medical Officer, Adam R. Craig will step down from his role at the end of the year to pursue other opportunities. Dr. Craig will remain available to the company on an advisory basis throughout the regulatory process with the EMA. Also within the Development group, Jennifer A. Smith has been appointed Vice President of Biometrics, where her responsibilities include the statistical design of the company’s clinical trials as well as clinical data analyses and presentations, including those supporting ongoing regulatory filings. Dr. Smith joined Sunesis in 2012 from BiPar Sciences where she was Senior Director of Biometrics. Prior to BiPar, she served in similar roles at Geron, Pharmacyclics and Aviron.
Mr. Swisher added: “We thank Adam for his leadership and significant contributions at Sunesis as Chief Medical Officer and look forward to continuing to work with him as a valued advisor in 2016. We have begun a search to complement our experienced internal team with additional clinical development expertise.” (Original Source)
Shares of Sunesis Pharmaceuticals closed today at 0.92, up $0.04 or 4.78%. SNSS has a 1-year high of $3.72 and a 1-year low of $0.74. The stock’s 50-day moving average is $1.09 and its 200-day moving average is $2.11.
On the ratings front, Sunesis Pharmaceuticals has been the subject of a number of recent research reports. In a report issued on July 30, Cantor Fitzgerald analyst Mara Goldstein reiterated a Hold rating on SNSS, with a price target of $2, which represents a potential upside of 124.7% from where the stock is currently trading. Separately, on the same day, Roth Capital’s Joseph Pantginis maintained a Sell rating on the stock and has a price target of $1.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Mara Goldstein and Joseph Pantginis have a total average return of -2.8% and -7.6% respectively. Goldstein has a success rate of 37.9% and is ranked #3222 out of 3769 analysts, while Pantginis has a success rate of 31.6% and is ranked #3741.
Sunesis Pharmaceuticals Inc is a biopharmaceutical company engaged in the development and commercialization of new oncology therapeutics for the treatment of solid and hematologic cancers.