Sunesis Announces Proposed Public Offering of Common Stock, Preferred Stock and Warrants
October 24 2017 - 3:05PM
Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS) today announced that it
intends to offer and sell, subject to market and other conditions,
shares of its common stock and Series D Convertible Preferred
Stock, each in combination with warrants to purchase shares of its
common stock, in underwritten public offerings. There can be no
assurance as to whether or when the offerings may be completed, or
as to the actual size or terms of the offerings. Sunesis
anticipates using the net proceeds from the proposed offerings to
fund the continued development of SNS-062, additional kinase
inhibitor programs and for working capital and other general
corporate purposes.
Cowen and Wells Fargo Securities are acting as
Joint Book-Running Managers in these offerings. Oppenheimer
& Co. Inc. is acting as Lead Manager in these offerings.
The securities described above are being offered
by Sunesis pursuant to a shelf registration statement previously
filed with the Securities and Exchange Commission (the "SEC"),
which the SEC declared effective on June 10, 2014. A preliminary
prospectus supplement related to each of the offerings will be
filed with the SEC and will be available on the SEC's website at
http://www.sec.gov. Copies of the preliminary prospectus
supplements and the accompanying prospectus relating to these
offerings may be obtained on the SEC's website or from the offices
of Cowen and Company, LLC (c/o Broadridge Financial Services, 1155
Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus
Department, Phone: 631-274-2806, Fax: 631-254-7140) or Wells Fargo
Securities, LLC, Attention: Equity Syndicate Department, 375 Park
Avenue, New York, New York 10152, or by email at
cmclientsupport@wellsfargo.com, or by telephone at (800)
326-5897.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy these securities,
nor shall there be any sale of these securities in any state or
other jurisdiction in which such offer, solicitation or sale would
be unlawful prior to the registration or qualification under the
securities laws of any such state or other jurisdiction.
About Sunesis
Pharmaceuticals
Sunesis is a biopharmaceutical company focused
on the development and commercialization of new oncology
therapeutics for the future treatment of solid and hematologic
cancers. Sunesis has built an experienced cancer drug development
organization committed to improving the lives of people with
cancer. The company is focused on advancing its novel
kinase-inhibitor pipeline, with an emphasis on establishing proof
of concept that its oral non-covalent BTK-inhibitor, SNS-062,
treats ibrutinib-resistant chronic lymphocytic leukemia. Sunesis is
also supporting investigator-led studies of vosaroxin in acute
myeloid leukemia.
SUNESIS and the logos are trademarks of Sunesis
Pharmaceuticals, Inc.
Forward-Looking Statements
This press release contains forward-looking
statements, including statements related to the expectations
regarding the completion, timing and use of proceeds of Sunesis’
proposed offerings. Words such as "may," “intend,” “will,”
“potential,” and similar expressions are intended to identify
forward-looking statements. These forward-looking statements are
based upon Sunesis' current expectations. Forward-looking
statements involve risks and uncertainties. Sunesis' actual results
and the timing of events could differ materially from those
anticipated in such forward-looking statements as a result of these
risks and uncertainties, which include, without limitation, risks
related to market conditions and the satisfaction of customary
closing conditions related to the proposed offerings. These and
other risk factors are discussed under "Risk Factors" and elsewhere
in Sunesis' Quarterly Report on Form 10-Q for the quarter ended
June 30, 2017 and Sunesis' other filings with the Securities and
Exchange Commission. There can be no assurance that Sunesis will be
able to complete the public offerings on the anticipated terms, or
at all. Sunesis expressly disclaims any obligation or undertaking
to release publicly any updates or revisions to any forward-looking
statements contained herein to reflect any change in Sunesis'
expectations with regard thereto or any change in events,
conditions or circumstances on which any such statements are
based.
Investor and Media Inquiries:Maeve ConneightonArgot
Partners212-600-1902
Dan SwisherSunesis Pharmaceuticals Inc.650-266-3715
Sunesis Pharmaceuticals (NASDAQ:SNSS)
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