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Sunesis Pharmaceuticals, Inc. Message Board

  • homebuilder_watcher homebuilder_watcher Dec 20, 2012 9:11 AM Flag

    New Coverage

    Well Fargo out today with a nice 32 page note. Good read. Buy and valuation between $8 and $10

    Summary: We have initiated coverage of SNSS with an Outperform
    rating on the shares and a $8-10 valuation range. Sunesis’ lead
    compound, vosaroxin, is a novel quinolone derivative in development for
    relapsed/refractory acute myeloid leukemia (R/R AML). In September 2012 the
    ongoing vosaroxin Phase III VALOR study passed a major clinical de-risking
    event, in our view, when the data safety monitoring board (DSMB) recommended
    VALOR continue to conclusion based on a promising overall survival (OS) signal.
    Based on our review of vosaroxin and other AML drugs' clinical data, VALOR's
    statistical assumptions, and expansion of the study's size, we believe VALOR is
    more likely than not to succeed on its primary endpoint, creating a major
    potential value inflection for SNSS. During 2013, a final safety analysis and
    vosaroxin efficacy updates in an elderly front-line study could provide catalysts
    for SNSS shares ahead of VALOR results in H1 2014E. With a ~$150 million
    enterprise value and vosaroxin's long-term potential in R/R AML, we believe
    SNSS is undervalued and see risk/reward as favorable going into VALOR data

4.41Sep 28 4:00 PMEDT