LONDON, January 30, 2013 /PRNewswire/ --
EmergingGrowth.com, a leading digital financial media company, discusses Sunesis Pharmaceuticals, Amgen, Inc., Gilead Sciences and Biogen Idec, Inc.
The pharmaceutical sector is a very lucrative and competitive industry. And for emerging growth companies, it is difficult to make a meaningful impact in this cutthroat industry.
Sunesis Pharmaceuticals, Inc. (NASDAQ: SNSS) has built a highly experienced cancer drug development organization committed to advancing its lead product candidate, Vosaroxin, to improve the lives of people with cancer.
Sunesis Pharmaceuticals' work translates to a rosy top line as demonstrated by the $25 million it earned from a previously announced royalty purchase agreement with Royalty Pharma. It took possession of $15 million from the second tranche of a 2011 venture loan facility. It raised $17.3 million from the sale of 3.6 million shares of common stock and $1.4 million from the gross exercise of 0.6 million warrants to purchase common stock. This not only shows that Sunesis is able to raise capital for research purposes, but it also represents the company's keen interest in creating shareholder value.
The company is in the follow-up stage of trials of Vosaroxin, having completed a Phase 2 trial in ovarian cancer patients in 2010. However, broader market tailwinds will propel the company through the next decade. Vosaroxin is a first-in-class anticancer quinolone derivative, a class of compounds that has not been used previously for the treatment of cancer. As of now, notable breakthroughs are being made with the drug, particularly as complete remissions have been observed in patients treated with Vosaroxin in combination with Cytarabine.
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