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Press Release

Edison Issues Update on Sunesis Pharmaceuticals (SNSS)

Edison Investment Research
Posted on: 16 Sep 16

PR Newswire

LONDON, September 16, 2016

LONDON, September 16, 2016 /PRNewswire/ --

Sunesis released the first-in-human clinical data for SNS-062, its reversible non-covalent inhibitor of Bruton's tyrosine kinase (BTK), at a scientific conference in September 2016. The results from the 32-subject, placebo-controlled Phase Ia trial validated the notion that a non-covalent inhibitor could have a viable pharmacokinetic and pharmacodynamic profile and showed a favorable safety profile. The company will be advancing the drug into a Phase Ib/II B-cell malignancy trial following these results.

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We have increased our valuation to $194m or $13.36 per basic share, from $154m or $10.60 per basic share (reverse split adjusted). The increase is entirely due to an adjustment to our probability of success for SNS-062 from 10% to 20% based on the recent clinical results. We now estimate the value of the program at $78m. We expect to update our valuation in the future with further clinical results and with the upcoming EMA approval decision for Qinprezo.

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About Edison: Edison is an international equity research firm with a team of over 110 analysts, investment and roadshow professionals and works with both large and smaller capitalised companies, blue chip institutional investors, wealth managers, private equity and corporate finance houses to support their capital markets activity. Edison provides services to more than 420 retained corporate and investor clients from offices in London, New York, Frankfurt, Sydney and Wellington. Edison is authorised and regulated by the Financial Conduct Authority.

Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities.

For more information please contact:
Maxim Jacobs                       Edison Investment Research         +1 646 653 7027
Nathaniel Calloway               Edison Investment Research                 +1 646 653 7036

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SOURCE Edison Investment Research

PR Newswire

Last updated on: 16/09/2016

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