Sunesis Announces Proposed Public Offering of Common Stock and Preferred Stock
January 17 2019 - 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 E Convertible
Preferred Stock in underwritten public offerings. There can be no
assurance as to whether or when the proposed offerings may be
completed, or as to the actual size or terms of the
offerings. Sunesis also expects to grant the underwriters a
30-day option to purchase up to an additional 15% of the number of
shares of common stock offered in the public offering to cover
over-allotments, if any. Sunesis anticipates using the net
proceeds from the proposed offerings to fund ongoing development of
vecabrutinib, ongoing research and development, debt amortization,
and general corporate purposes.
Wells Fargo Securities, LLC and Oppenheimer
& Co. Inc. are acting as joint book-running managers in these
proposed 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 November 21, 2017. A
preliminary and final 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 and
final prospectus supplements and the accompanying prospectus
relating to these offerings, when available, may be obtained on the
SEC's website or from the offices of 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;or from Oppenheimer & Co. Inc.,
Attention: Syndicate Prospectus Department, 85 Broad Street, 26th
Floor, New York, New York 10004, by telephone at 212-667-8055, or
by email at EquityProspectus@opco.com.
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
developing new therapeutics for the treatment of hematologic and
solid cancers. Sunesis has built an experienced 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 its oral non-covalent BTK
inhibitor vecabrutinib. Vecabrutinib is currently being evaluated
in a Phase 1b/2 study in adults with chronic lymphocytic leukemia
and other B-cell malignancies that have progressed after prior
therapies.
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
September 30, 2018 and Sunesis' other filings with the Securities
and Exchange Commission. There can be no assurance that Sunesis
will be able to complete the proposed 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 |
Willie QuinnSunesis
Pharmaceuticals Inc.650-266-3716 |
Sunesis Pharmaceuticals (NASDAQ:SNSS)
Historical Stock Chart
From Sep 2024 to Oct 2024
Sunesis Pharmaceuticals (NASDAQ:SNSS)
Historical Stock Chart
From Oct 2023 to Oct 2024