SOUTH SAN FRANCISCO, Calif. (AP) -- Sunesis Pharmaceuticals Inc. said Wednesday it received a $1.5 million payment from Biogen Idec Inc., its partner in developing immune system drugs.
Sunesis said it could get as much as $60 million from Biogen as the products are studied. The experimental drugs have not yet been tested on people.
Shares of Sunesis Pharmaceuticals rose 13 cents, or 4.8 percent, to $2.84 in afternoon trading. The stock has traded between $1.01 and $3.19 in the past 52 weeks.