Cowen analyst Eric Schmidt weighed in today with a few insights on Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS), after the company reported second-quarter financials and provided investors with an update on its regulatory and clinical progress. Schmidt rates SNSS a Market Perform without providing a price target. Sunesis shares are currently trading at $0.619, up $0.113 or 22.35%.

Sunesis is progressing its regulatory efforts to bring vosaroxin to market in Europe as a treatment for relapsed/refractory AML, and in parallel is maintaining an active dialogue with potential European collaborators toward the goal of supporting a market launch in 2017.

Schmidt commented, “We think vosaroxin’s chances of gaining EU approval are good based on EMA’s tendency to consider the totality of the data as demonstrated by the precedence set by the approvals of JNJ’s Dacogen and CELG’s Vidaza for AML. SNSS continues to engage in partnership discussions for vosaroxin in the ex-U.S. territories. We think that the EMA’s Day 180 response could be the catalyst that propels partnership discussions toward their conclusion. JAZZ’s $1.5B acquisition of CPXX suggests interest in AML is substantial. We estimate vosaroxin could have a $200-300MM market potential in elderly r/r AML outside the U.S. The company is also exploring opportunities for vosaroxin outside of U.S. and E.U.”

According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Eric Schmidt has a yearly average return of 19.8% and a 54% success rate. Schmidt has a -51.6% average return when recommending SNSS, and is ranked #82 out of 4087 analysts.

Out of the 2 analysts polled by TipRanks, 1 rate Sunesis Pharmaceuticals stock a Sell, while 1 rates the stock a Buy. With a return potential of 59%, the stock’s consensus target price stands at $1.00.