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Sunesis Pharmaceuticals Reports Fourth Quarter and Full-Year 2008 Financial Results
Date:4/1/2009

n, compared to $13.6 million in 2007. The quarter-over-quarter and year-over-year decrease primarily resulted from reduced headcount resulting from Sunesis' reorganization and reduction in force in June 2008.
  • In the fourth quarter ended December 31, 2008, Sunesis recorded a $0.4 million additional restructuring charge relating to the company's reorganization and reduction in force in June 2008. Cash restructuring costs accounted for approximately $3.8 million of the total $5.8 million restructuring charge recorded for the year.
  • Sunesis reported a net loss of $6.9 million for the fourth quarter of 2008 and $37.2 million for the twelve-month period ended December 31, 2008, compared to a reported net loss of $8.8 million and $38.8 million, respectively, for the three-month and twelve-month periods ended December 31, 2007.

  • Conference Call Information

    Sunesis management will host a conference call today to review the fourth quarter and full-year 2008 financial results and the private placement transaction separately announced today and to provide a general business update at 5:00 p.m. EDT / 2:00 p.m. PDT. Individual and institutional investors can access the call via 1-877-874-1567 (U.S. and Canada) or +1- 719-325-4788 (international). To access the live audio webcast or the subsequent archived recording, visit the "Investors and Media - Calendar of Events" section of the Sunesis website at www.sunesis.com. The webcast will be recorded and available for replay on Sunesis' website until April 15, 2009.

    About Voreloxin

    Voreloxin is a first-in-class anticancer quinolone derivative, or AQD, a class of compounds that has not been used previously for the treatment of cancer. Voreloxin both intercalates DNA and inhibits topoisomerase II, resulting in replication-dependent, site-selective
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    SOURCE Sunesis Pharmaceuticals, Inc.
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