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m69jump
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Millennium Pharmaceuticals and Sunesis Pharmaceuticals Announce Collaboration for Kinase Inhibitors in Oncology
Date : 04/05/2011 @ 7:00AM
Source : GlobeNewswire Inc.
Stock : Sunesis Pharmaceuticals, Inc.; Millennium: The Takeda Oncology C (SNSS)
Quote : up.gif 2.1499 0.2049 (10.53%) @ 1:23PM

<a href='http://as1.investorshub.com/oasis/oasisc.php?s=362&w=300&h=250& ;ord=1302024234&t=_blank&k=' target='_blank' rel='nofollow'> <img src='http://as1.investorshub.com/oasis/oasisi.php?s=362&w=300&h=250& ord=1302024234&t=_blank&k=' border='0' width='300' height='250' /> </a>
Millennium Pharmaceuticals and Sunesis Pharmaceuticals Announce Collaboration for Kinase Inhibitors in Oncology

Sunesis Pharmaceuticals, Inc. (MM) (NASDAQ:SNSS)
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Today : Tuesday 5 April 2011
Click Here for more Sunesis Pharmaceuticals, Inc. (MM) Charts.

Sunesis Receives a $4M Payment


Sunesis to Host Conference Call Today, April 5th at 10:00 AM Eastern Time


Millennium: The Takeda Oncology Company and Sunesis Pharmaceuticals, Inc. (Nasdaq:SNSS) today announced a license agreement for the development of Sunesis' oral, selective pan-Raf kinase inhibitor and one additional undisclosed kinase inhibitor program in oncology.

These programs were part of Sunesis' 2004 multi-kinase inhibitor collaboration with Biogen Idec. Following Biogen Idec's November 2010 announcement to focus on neurology and spin out or outlicense its oncology assets, Millennium acquired two of these oncology assets and will continue the development of these in collaboration with Sunesis. Biogen Idec and Sunesis are continuing a separate collaboration focused on a unique preclinical kinase inhibitor program involved in immunology.

"We are very excited to be working with Millennium, a company that focuses on developing first-in-class and best-in-class oncology compounds," stated Daniel Swisher, Chief Executive Officer of Sunesis. "We look forward to Millennium's transition of the pan-Raf kinase investigational agent into clinical studies, while we continue to focus our resources and attention on our ongoing Phase 3 VALOR trial for vosaroxin in AML."

"These kinase inhibitor programs represent an important addition to our portfolio and reflect our strategy to develop novel oncology therapies by targeting the underlying pathways of the disease process," said Nancy Simonian, M.D., Chief Medical Officer, Millennium. "In addition, the Raf kinase inhibitor investigational agent offers a compelling development opportunity as it targets a clinically validated pathway. We look forward to building on the strong preclinical dataset as we advance this program into clinical trials."

Non-clinical data from the oral and selective pan-Raf inhibitor were presented at the EORTC-NCI-AACR meeting in November 2010. Data were presented that demonstrated potent pan-Raf kinase inhibition in biochemical kinase assays. Data were also presented that showed profound antitumor activity in both large B-Raf mutant melanoma tumor models, tumor models of B-Raf wild-type melanoma and other B-Raf wild-type tumor types.

Under the terms of the agreement with Biogen Idec and Millennium, Sunesis has received a $4 million upfront payment from Millennium. Sunesis continues to be eligible to receive up to $60 million in pre-commercial milestone program payments and royalties on sales of future collaboration products. In addition, Sunesis has retained its future co-development and co-promotion rights.

"We are delighted to transition our collaboration with Sunesis on these oncology programs to Millennium, a world-class oncology organization," said Steven Holtzman, Executive Vice President of Corporate Development at Biogen Idec. "We look forward to seeing the oncology programs progress under Sunesis and Millennium's new collaboration, as we continue to drive forward our partnership with Sunesis on our immunology program."

Conference Call Information

Sunesis will host a conference call on April 5, 2011, 10:00 a.m. Eastern time to discuss the license agreement. The call can be accessed by dialing 866.831.6267 (U.S. and Canada) or 617.213.8857 (international) and entering the passcode 12246875. To access the live audio webcast, or the subsequent archived recording, visit the "Investors and Media - Calendar of Events" section of the Sunesis website at www.sunesis.com. The webcast will be recorded and available for replay on Sunesis' website for two weeks.

About Raf Kinase Program

The Raf kinases (A-Raf, B-Raf and C-Raf) are key regulators of cell proliferation and survival within the mitogen-activated protein kinase (MAPK) pathway. The MAPK pathway is frequently disregulated in human cancers, often via activating mutations of Ras or Raf.

About Millennium

Millennium: The Takeda Oncology Company, a leading biopharmaceutical company based in Cambridge, Mass., markets a first-in-class proteasome inhibitor in the US, and has a robust clinical development pipeline of global product candidates. Millennium Pharmaceuticals, Inc. was acquired by Takeda Pharmaceutical Company Ltd. in May, 2008. The Company's research, development and commercialization activities are focused in oncology. Additional information about Millennium and Takeda are available through their respective websites.

About Takeda

Located in Osaka, Japan, Takeda is a research-based global company with its main focus on pharmaceuticals. As the largest pharmaceutical company in Japan and one of the global leaders of the industry, Takeda is committed to strive towards better health for patients worldwide through leading innovation in medicine. Additional information about Takeda is available through its corporate website, www.takeda.com.

About Sunesis Pharmaceuticals

Sunesis is a biopharmaceutical company focused on the development and commercialization of new oncology therapeutics for the treatment of solid and hematologic cancers. Sunesis has built a highly experienced cancer drug development organization committed to advancing its lead product candidate, vosaroxin, in multiple indications to improve the lives of people with cancer. For additional information on Sunesis, please visit www.sunesis.com.

This press release contains forward-looking statements, including statements related to the respective collaborations between Millennium: The Takeda Oncology Company and Sunesis and between Biogen Idec and Sunesis. These forward-looking statements are based upon current expectations and actual results and the timing of events could differ materially from those discussed in such forward-looking statements as a results of risks and uncertainties, which include, without limitation, risks related to the timing of the development of products under the collaborations, the achievement of milestones, the ability and willingness of Millennium or Biogen Idec to progress collaboration compounds and for Sunesis to receive milestone payments, royalties and co-promotion and co-development rights. These and other risk factors are discussed under "Risk Factors" and elsewhere in the companies' most recent annual and quarterly reports. The companies 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 the companies' expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.

The Sunesis Pharmaceuticals, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8773

SUNESIS and the logo are trademarks of Sunesis Pharmaceuticals, Inc.

MILLENNIUM and the logo are trademarks of Millennium Pharmaceuticals, Inc.

CONTACT: Investor and Media Inquiries:
Manisha Pai
Millennium Pharmaceuticals, Inc.
617-551-7877

Investor Inquiries:
Eric Bjerkholt
Sunesis Pharmaceuticals Inc.
650-266-3717

Media Inquiries:
David Pitts
Argot Partners
212-600-1902

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m69jump
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was a nice week this week if we break 2.35 sit back for a ride.........
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m69jump
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http://stockcharts.com/h-sc/ui?s=SNSS
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m69jump
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http://ih.advfn.com/p.php?pid=nmona&article=47261019&symbol=SNSS
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theman
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Today was a great day for SNSS. An 7.55% Gain and lets hope it head up from here. [Big Grin]
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CAPTNEMOS
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TELL me what makes this stock a buy?did you even do your homework and look at their financials or 10K.let me give you some advice.sell-sell-sell.heres what i see.do you know the percentage of drugs make it past stage 3?.see for yourself.


ITEM 1A. RISK FACTORS
Investing in our common stock involves a high degree of risk. You should carefully consider the risks and uncertainties described below and all information contained in this report in weighing a decision to purchase our common stock. If any of the possible adverse events described below actually occurs, we may be unable to conduct our business as currently planned and our financial condition and operating results could be adversely affected. Additional risks not presently known to us or that we currently believe are immaterial may also significantly impair our business operations. In addition, the trading price of our common stock could decline due to the occurrence of any of these risks, and you may lose all or part of your investment. Please see “Special Note Regarding Forward-Looking Statements.”
Risks Related to Our Business
We need to raise substantial additional funding to complete the development and potential commercialization of vosaroxin.
We believe that with $53.4 million in cash and investments as of December 31, 2010, we currently have the resources available and accessible to fund our operations until the planned unblinding of the VALOR trial in 2013. To the extent that the costs of the VALOR trial exceed our current estimates, unblinding does not occur within the currently anticipated timeframe or we are unable to raise sufficient additional capital through our controlled equity offering facility or otherwise, we will need to reduce operating expenses, enter into a collaboration or other similar arrangement with respect to development and/or commercialization rights to vosaroxin, outlicense intellectual property rights to vosaroxin, sell assets, or a combination of the above. We will need to raise substantial additional capital if we expand the number of patients included in the trial based on the pre-specified interim analysis of data from the trial by the DSMB.
In addition, we will need to raise substantial additional capital to:

•
complete the development and potential commercialization of vosaroxin;


•
fund additional clinical trials of vosaroxin and seek regulatory approvals;


•
expand our development activities;


•
implement additional internal systems and infrastructure; and


•
build or access commercialization and additional manufacturing capabilities and supplies.

Our future funding requirements and sources will depend on many factors, including but not limited to:

•
the rate of progress and cost of our clinical trials, including the VALOR trial in particular;


•
the need for additional or expanded clinical trials (including in particular potential expansion of the number of patients included in the VALOR trial based on the pre-specified interim analysis of data from the trial by the DSMB);


•
the economic and other terms and timing of any licensing, collaboration or other similar arrangement into which we may enter;


•
the costs and timing of seeking and obtaining FDA and other regulatory approvals;


•
the extent of our other development activities;


17
Table of Contents

•
the costs associated with building or accessing commercialization and additional manufacturing capabilities and supplies;


•
the costs of acquiring or investing in businesses, product candidates and technologies, if any;


•
the costs of filing, prosecuting, defending and enforcing any patent claims and other intellectual property rights; and


•
the effect of competing technological and market developments.

Until we can generate a sufficient amount of licensing or collaboration or product revenue to finance our cash requirements, which we may never do, we expect to finance future cash needs primarily through equity issuances, debt arrangements, a possible license, collaboration or other similar arrangement with respect to development and/or commercialization rights to vosaroxin, or a combination of the above. Any issuance of convertible debt securities, preferred stock or common stock may be at a discount from the then-current trading price of our common stock. If we issue additional common or preferred stock or securities convertible into common stock, our stockholders will experience additional dilution, which may be significant. Further, we do not know whether additional funding will be available on acceptable terms, or at all. If we are unable to raise substantial additional funding on acceptable terms or at all, we will be forced to delay or reduce the scope of our vosaroxin development program, potentially including the VALOR trial, and/or limit or cease our operations.
We may not be able to raise necessary additional funding pursuant to our controlled equity offering facility with Cantor and, as a result, may need to try to obtain additional capital through alternative financing options then available to us, if any, to fully finance the VALOR trial through to its unblinding and otherwise continue our operations.
On April 28, 2010, we entered into a controlled equity offering sales agreement with Cantor, pursuant to which we may issue and sell shares of our common stock having an aggregate offering price of up to $20.0 million from time to time through Cantor acting as agent and/or principal. As of March 15, 2011, we had sold an aggregate of 3.7 million shares of common stock at an average price of $4.32 per share for gross proceeds of $16.0 million. As of March 15, 2011, approximately $4.0 million of common stock was available to be sold under this facility, subject to certain conditions as specified in the agreement. Notwithstanding, we may be limited under the terms of the facility in the number of shares of common stock we may issue and the resulting amount of capital that we could raise pursuant thereto. Any such limitation may be due to a number of factors, including as a result of the termination of the facility due to a material breach of its terms by us or Cantor’s election to terminate the facility in its discretion. In addition, we may be subject to limitations on the number of shares of common stock we may sell pursuant to the facility due to the eligibility requirements for use of a Form S-3 Registration Statement and other applicable legal restrictions. As a result, there is no assurance that the controlled equity offering facility will be available when required or that we will be able to raise the necessary funding pursuant thereto in order to fully finance the VALOR trial until its planned unblinding and otherwise continue our operations. In such event, we will need to raise additional capital through alternative financing options then available to us, if any.
We have incurred losses since inception and anticipate that we will continue to incur losses for the foreseeable future. We may not ever achieve or sustain profitability.
We are not profitable and have incurred losses in each year since our inception in 1998. Our net losses for the years ended December 31, 2010, 2009 and 2008 were $24.6 million, $40.2 million and $37.2 million, respectively. As of December 31, 2010, we had an accumulated deficit of $381.0 million. We do not currently have any products that have been approved for marketing, and we continue to incur substantial development and general and administrative expenses related to our operations. We expect to continue to incur losses for the foreseeable future, and we expect these losses to increase significantly as the VALOR trial progresses, as we seek

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WHADDYA MEAN I CAN BE PRESIDENT OF THE USA.ITS STILL WE THE PEOPLE.RIGHT?

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CAPTNEMOS
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but if somehow they get positive news on the stage 3 trial and its good news.then i know the stock will fly.question is r u ready to hold till 2012-2013?And will they have enough resources to make it.But they will have to relese alot of stock over the next year to stay alive.they have alot of debt to soak up.Maybe 1 of the big 3 will buy them if the drug gets stage 3 approval.too many ifs right now to own.

December 31, 2010, we had an accumulated deficit of $381.0 million

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WHADDYA MEAN I CAN BE PRESIDENT OF THE USA.ITS STILL WE THE PEOPLE.RIGHT?

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CAPTNEMOS
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dont even want to think whzt the p/e ratio is.-1700

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WHADDYA MEAN I CAN BE PRESIDENT OF THE USA.ITS STILL WE THE PEOPLE.RIGHT?

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CAPTNEMOS
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I COULD BE WRONG on this one.Eventhough its a iffy stock,somethings driving it.they must be getting positive results WITH THE PRELIMINARY STAGE 3 OF VALOR.ONLY WAY you would hinge any money on them is because of that.Or one of the big boys are eyeing them for the rights to Valor.Wish you good luck.

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WHADDYA MEAN I CAN BE PRESIDENT OF THE USA.ITS STILL WE THE PEOPLE.RIGHT?

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m69jump
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there is still growth in snss looks like they have a chance to join the big boys if all goes right or more, will see with more pr's soon.
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theman
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CAPTNEMOS i like people like you.. you are saying the truth about this stock... RISK!! But i like how you wish others luck..

I think this stock is going to get to $3.50, but after that point i dont want to know, maybe this is one to hold for another few months and then let go.

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CAPTNEMOS
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Why thank you theman.i call it like i see it.Well if they dont get the stage 3 approval,theyre screwed.Think about the 381 million dollars of deficit they have accumalated.Only way this company has a chance is too be bought out for 400-500 million dollars ,if not its just a reverse merger and a new name and A new game waiting to happen.high risk with a high reward not my style.i like alot less risk with the same type of reward.Im not here to knock a stock or offend people.just trying to help the less experienced about this stuff.

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WHADDYA MEAN I CAN BE PRESIDENT OF THE USA.ITS STILL WE THE PEOPLE.RIGHT?

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m69jump
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Finally, Sunesis Pharmaceuticals, Inc. (SNSS) will also be presenting at ASCO [Abstract #TPS201, “Adaptive design of VALOR, a phase III trial of vosaroxin or placebo in combination with cytarabine for patients with first relapsed or refractory acute myeloid leukemia”]. Unlike the aforementioned frontline trials being conducted under SPA’s, Sunesis is studying vosaroxin in relapsed/refractory AML in an ongoing Phase 3 trial. Approximately 450 patients will be randomized to receive either vosaroxin or placebo in combination with cytarabine.

Cytarabine, a generic chemotherapy drug introduced several decades ago, is already a critical part of the treatment for younger patients with AML who are fit to withstand its toxicity. Unfortunately, several companies that make cytarabine have recently experienced production difficulties and others cannot make the drug fast enough to keep up with demand. This has resulted in a severe shortage of cytarabine that has reportedly affected leukemia clinical trials being run by the Cancer and Leukemia Group B [CALGB]. Accordingly, investors will be looking to Sunesis for an update on enrollment in the VALOR Phase 3 trial to determine whether or not the cytarabine shortage has been a factor.

“My personal opinion on AML affecting the elderly population is that the field is in need of a total revamp whereby certain chemotherapy agents need to be combined with targeted therapies to overcome drug resistance and provide meaningful survival data,” said Daruka Mahadevan, M.D. Ph.D., Director, Phase I Program, Arizona Cancer Center. “If you can increase the survival of a 70-year old patient by ten years, that would be a real achievement. Sapacitabine is interesting as it is an oral agent, while vosaroxin in combination of cytarabine may provide short term control – but is unlikely to provide a survival benefit.”

Please click here to read MD Becker Partners' legal disclaimer.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
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up 32cents today. This stock is flying! SNSS is my love.
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CAPTNEMOS
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yes it is books show a nice profit and is on the fast track program now.im in @2.58 30k shares.taking a beating on most of my holds today.so im looking for a quick money maker.


Sunesis Pharmaceuticals Reports First Quarter 2011 Financial Results
May 12, 2011 (GlobeNewswire) --
SOUTH SAN FRANCISCO, Calif., May 12, 2011 (GLOBE NEWSWIRE) -- Sunesis Pharmaceuticals, Inc. (Nasdaq:SNSS) today reported financial results for the quarter ended March 31, 2011. Net income for the three months ended March 31, 2011 was $1.8 million. As of March 31, 2011, cash, cash equivalents and marketable securities totaled $48.9 million, with no debt outstanding. This cash balance does not include $4.0 million received on April 4, 2011 under Sunesis' previously disclosed oncology kinase inhibitor collaboration with Millennium Pharmaceuticals, Inc.

The Company also announced that an abstract reviewing the adaptive design of the VALOR trial has been accepted for presentation during a poster session at the 2011 American Society of Clinical Oncology (ASCO) Annual Meeting, which is being held June 3-7 in Chicago, Illinois.

"Since the beginning of the year, we have achieved a number of milestones that enhance the prospects for vosaroxin, our lead program, as well as our earlier-stage pipeline programs," said Daniel Swisher, Chief Executive Officer of Sunesis. "For vosaroxin, we made progress on the clinical, regulatory and intellectual property fronts: the roll-out of our Phase 3 pivotal VALOR trial in relapsed/refractory AML is progressing well, we received U.S. FDA Fast Track designation for vosaroxin in AML and an important European patent has issued. Beyond vosaroxin, our newly formed oncology kinase inhibitor collaboration with Millennium Pharmaceuticals highlights the significant potential of our pipeline programs, including a pan-Raf kinase inhibitor candidate set for Phase 1 development. This collaboration will ensure these programs are supported with the capabilities and resources of a leading global oncology company while we continue to focus our internal investment on vosaroxin and the ongoing VALOR trial."

First Quarter 2011 and Recent Highlights

-- Announced collaboration with Millennium Pharmaceuticals for kinase inhibitors in oncology. In April, Millennium Pharmaceuticals, Inc. (Millennium), a wholly-owned subsidiary of Takeda Pharmaceutical Company Limited, and Sunesis announced a license agreement for the development of Sunesis' oral, selective pan-Raf kinase inhibitor and one additional undisclosed kinase inhibitor program in oncology. Under terms of the agreement, Sunesis received a $4.0 million upfront payment from Millennium on April 4, 2011 and is eligible to receive up to approximately $60.0 million in pre-commercial milestone program payments and royalties on sales of future collaboration products. Sunesis also retains co-development and co-promotion rights.

The programs were originally part of Sunesis' 2004 multi-kinase inhibitor collaboration with Biogen Idec, Inc. Following Biogen Idec's November 2010 announcement to shift its strategic focus and spin out or outlicense its oncology assets, Millennium acquired two of these oncology assets and intends to continue the development of these in collaboration with Sunesis. Biogen Idec and Sunesis will continue with a more focused collaboration directed towards a unique preclinical kinase inhibitor program involved in immunology.

-- Issued important European patent covering vosaroxin clinical formulation. In March, the European Patent Office (EPO) granted European Patent No. 1725233, which claims pharmaceutical compositions of vosaroxin. A corresponding patent was issued by the U.S. Patent and Trademark Office in November 2010, and related applications are also pending in other major markets throughout the world, including Japan, Australia and Canada. Sunesis is proceeding to validate this patent in several member states and the resulting national patents would expire in March 2025. The company believes this patent, which covers the formulation currently being used in the VALOR trial, may provide a significant additional exclusivity period for its vosaroxin franchise.

-- Received FDA Fast Track designation. In February, the U.S. Food and Drug Administration (FDA) granted its Fast Track designation to vosaroxin for the potential treatment of relapsed or refractory AML in combination with cytarabine. This designation provides for the possibility of a "rolling submission," or submission of individual sections as they become available, for a marketing application and eligibility for a priority review period by the FDA.

Financial Highlights

-- Cash, cash equivalents and marketable securities totaled $48.9 million as of March 31, 2011, as compared to $53.4 million as of December 31, 2010. The decrease of $4.5 million was primarily due to $6.7 million of net cash used in operating activities, partially offset by net proceeds of $2.1 million from sales of Sunesis' common stock through its facility with Cantor Fitzgerald & Co. In April 2011, Sunesis received a $4.0 million payment from Millennium per the terms of the license agreement entered into by Sunesis and Millennium on March 31, 2011. The company believes that currently available and accessible funds are sufficient to fund the company to the planned unblinding of the VALOR trial.

-- Total revenues for the three months ended March 31, 2011 were $4.0 million, as compared to $13,000 for the same period in 2010. Revenue in the 2011 period was related to the upfront payment of $4.0 million from Millennium.

-- Research and development expenses increased to $4.1 million for the three months ended March 31, 2011, as compared to $3.1 million for the same period in 2010. The increase in 2011 was primarily due to an increase in clinical expenses incurred as a result of the launch of the VALOR trial.

-- General and administrative expenses for the three months ended March 31, 2011 were $2.0 million, as compared to $1.6 million for the same period in 2010. The increase in 2011 was primarily due to higher legal and marketing costs, including legal costs related to the recently completed agreements with Biogen Idec and Millennium, and marketing costs related to the VALOR trial.

-- Other income, net, was $3.9 million for the three months ended March 31, 2011 as compared to $4,000 for the same period in 2010. The income in the 2011 period was comprised of a non-cash credit of $3.6 million for the revaluation of warrants issued in the October 2010 offering to their fair value as of March 31, 2011, and net foreign exchange gains of $0.3 million.

-- Sunesis reported net income of $1.8 million for the three months ended March 31, 2011 as compared to a net loss of $4.6 million for the same period in 2010.

ASCO Presentation

The Company will present the poster titled "Adaptive design of VALOR, a phase III trial of vosaroxin or placebo in combination with cytarabine for patients with first relapsed or refractory acute myeloid leukemia" at McCormick Place, Hall A, during the Trials in Progress Poster Session on Monday, June 6, 2011 from 8:00 a.m. to 12:00 p.m. local time (Poster #48G).

About VALOR

VALOR is a Phase 3, randomized, double-blind, placebo-controlled, pivotal trial in patients with first relapsed or refractory AML. The trial is expected to enroll 450 evaluable patients at approximately 100 leading sites in the U.S., Canada, Europe, Australia and New Zealand. The VALOR trial is currently open for enrollment and patients will be randomized one to one to receive either vosaroxin on days one and four in combination with cytarabine daily for five days, or placebo in combination with cytarabine. Additionally, the VALOR trial employs an innovative, adaptive trial design that allows for a one-time sample size adjustment by the DSMB at the interim analysis to maintain adequate power across a broad range of clinically meaningful and statistically significant survival outcomes. The trial's primary endpoint is overall survival. For more information on the VALOR trial, please visit www.valortrial.com.

The VALOR logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8774

About Vosaroxin

Vosaroxin is a first-in-class anticancer quinolone derivative, or AQD, a class of compounds that has not been used previously for the treatment of cancer. Vosaroxin both intercalates DNA and inhibits topoisomerase II, resulting in replication-dependent, site-selective DNA damage, G2 arrest and apoptosis.

About Acute Myeloid Leukemia

AML is a rapidly progressing cancer of the blood characterized by the uncontrolled proliferation of immature blast cells in the bone marrow. The American Cancer Society estimated that 12,330 cases of AML were diagnosed and approximately 9,000 deaths from AML occurred in the U.S. in 2010. Additionally, it is estimated that prevalence of AML is approximately 25,000 in the U.S. AML is generally a disease of older adults, and the median age of a patient diagnosed with AML is about 67 years. AML patients with relapsed or refractory disease and newly diagnosed AML patients over 60 years of age with poor prognostic risk factors typically die within one year, resulting in an acute need for new treatment options for these patients.

About Sunesis Pharmaceuticals

Sunesis is a biopharmaceutical company focused on the development and commercialization of new oncology therapeutics for the treatment of solid and hematologic cancers. Sunesis has built a highly experienced cancer drug development organization committed to advancing its lead product candidate, vosaroxin, in multiple indications to improve the lives of people with cancer. For additional information on Sunesis, please visit www.sunesis.com.

The Sunesis Pharmaceuticals, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8773

This press release contains forward-looking statements, including statements related to the design, conduct and results of the VALOR trial, the benefits to Sunesis from its collaboration arrangement with Millennium, the prosecution of pending foreign patent applications, the sufficiency of Sunesis' currently available and accessible funds, and vosaroxin's effects, efficacy and safety profile as a single agent and in combination with cytarabine. Words such as "progressing," "will," "pending," "proceeding," "intends to," "expected," "believe" 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 Sunesis' need for substantial additional funding to complete the development and commercialization of vosaroxin, risks related to Sunesis' ability to raise the capital that it believes to be accessible and is required to fully finance the VALOR trial until its planned unblinding in 2013, the risk that Sunesis' development activities for vosaroxin could be otherwise halted or significantly delayed for various reasons, the risk that Sunesis' clinical studies for vosaroxin may not demonstrate safety or efficacy or lead to regulatory approval, the risk that data to date and trends may not be predictive of future data or results, the risk that Sunesis' nonclinical studies and clinical studies may not satisfy the requirements of the FDA or other regulatory agencies, risks related to the conduct of Sunesis' clinical trials, risks related to the manufacturing of vosaroxin and supply of the active pharmaceutical ingredients required for the conduct of the VALOR trial, the risk of third party opposition to granted patents related to vosaroxin, and the risk that Sunesis' proprietary rights may not adequately protect vosaroxin. These and other risk factors are discussed under "Risk Factors" and elsewhere in Sunesis' Annual Report on Form 10-K for the year ended December 31, 2010 and Sunesis' other filings with the Securities and Exchange Commission, including Sunesis' Quarterly Report on Form 10-Q for the quarter ended March 31, 2011, when available. 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 the company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.

SUNESIS and the logo are trademarks of Sunesis Pharmaceuticals, Inc.

SUNESIS PHARMACEUTICALS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)

March 31,

2011 December 31,

2010
ASSETS (Unaudited) (Note 1)
Current assets:
Cash and cash equivalents $ 9,914 $ 14,223
Marketable securities 39,002 39,173
Accounts receivable 4,000 --
Prepaids and other current assets 1,595 1,286
Total current assets 54,511 54,682
Property and equipment, net 106 116
Deposits and other assets 60 60
Total assets $ 54,677 $ 54,858

LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable $ 616 $ 416
Accrued clinical expense 1,599 1,574
Accrued compensation 493 1,013
Other accrued liabilities 990 1,406
Warrant liability 4,539 8,154
Total current liabilities 8,237 12,563

Other liabilities 40 48

Commitments

Stockholders' equity:
Common stock 5 5
Additional paid-in capital 425,563 423,262
Accumulated other comprehensive loss (3) (15)
Accumulated deficit (379,165) (381,005)
Total stockholders' equity 46,400 42,247
Total liabilities and stockholders' equity $ 54,677 $ 54,858

Note 1: The condensed consolidated balance sheet as of December 31, 2010 has been

derived from the audited financial statements as of that date included in the Company's

Annual Report on Form 10-K for the year ended December 31, 2010.

SUNESIS PHARMACEUTICALS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts)

Three months ended

March 31,
2011 2010
(Unaudited)
Revenue:
Collaboration revenue $ -- $ 13
License and other revenue 4,000 --
Total revenues 4,000 13

Operating expenses:
Research and development 4,070 3,111
General and administrative 2,014 1,554
Total operating expenses 6,084 4,665

Loss from operations (2,084) (4,652)

Other income, net 3,924 4
Net income (loss) $ 1,840 $ (4,648)

Net income (loss) per common share:
Basic $ 0.04 $ (0.65)
Diluted $ 0.04 $ (0.65)

Shares used in computing net income (loss) per common share:
Basic 45,894 7,142
Diluted 47,866 7,142
CONTACT: Investor and Media Inquiries:
David Pitts
Argot Partners
212-600-1902

Eric Bjerkholt
Sunesis Pharmaceuticals, Inc.
650-266-3717

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WHADDYA MEAN I CAN BE PRESIDENT OF THE USA.ITS STILL WE THE PEOPLE.RIGHT?

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CAPTNEMOS
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quote:
Originally posted by CAPTNEMOS:
but if somehow they get positive news on the stage 3 trial and its good news.then i know the stock will fly.question is r u ready to hold till 2012-2013?And will they have enough resources to make it.But they will have to relese alot of stock over the next year to stay alive.they have alot of debt to soak up.Maybe 1 of the big 3 will buy them if the drug gets stage 3 approval.too many ifs right now to own.

December 31, 2010, we had an accumulated deficit of $381.0 million

WELL ALOT OF THE IFS GOT ANSWERED TODAY AND THEY WERE GREAT ANSWERS.BTW THANKS YOU MR JUMP

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WHADDYA MEAN I CAN BE PRESIDENT OF THE USA.ITS STILL WE THE PEOPLE.RIGHT?

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IF YOU ARE LARGE IN THIS COMPANY AND PLAN ON HOLDING.THEY ARE HAVING A SHAREHOLDER MEETING TO VOTE ON STUFF PERTAINING TO THE STOCK.YOU CAN HAVE A SAY.THIS IS WHAT REAL COMPANIES DO IN THE REAL WORLD.NOT IN PINK LAND.GLTA.I WILL NOT GO BECAUSE IM GOING TO FLIP MINE HERE QUICKLY.

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WHADDYA MEAN I CAN BE PRESIDENT OF THE USA.ITS STILL WE THE PEOPLE.RIGHT?

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OOPS MY BAD.YOU CAN ALSO STILL VOTE BY WAY OF PROXY CARD.


SUNESIS PHARMACEUTICALS, INC.
395 Oyster Point Boulevard, Suite 400
South San Francisco, CA 94080
NOTICE OF ANNUAL MEETING OF STOCKHOLDERS
To be held on June 3, 2011
To the Stockholders of Sunesis Pharmaceuticals, Inc.:
The 2011 annual meeting of stockholders of Sunesis Pharmaceuticals, Inc. will be held on Friday, June 3, 2011 at 10:00 a.m., local time, at our headquarters located at 395 Oyster Point Boulevard, Suite 400, South San Francisco, California, 94080 for the following purposes:

1. To elect three directors nominated by the board of directors to serve until the 2014 annual meeting of stockholders, as described in the accompanying proxy statement.

2. To ratify the selection of Ernst & Young LLP as the independent registered public accounting firm of Sunesis for the year ending December 31, 2011.

3. To approve the Sunesis Pharmaceuticals, Inc. 2011 Equity Incentive Plan.

4. To approve the Sunesis Pharmaceuticals, Inc. 2011 Employee Stock Purchase Plan.

5. To transact any other business that may properly come before the annual meeting or any adjournment or postponement thereof.
These items of business are more fully described in the proxy statement accompanying this notice. The record date for the annual meeting is April 6, 2011. Only stockholders of record at the close of business on that date are entitled to notice of and to vote at the annual meeting and any adjournment or postponement thereof.
Please see the map at www.sunesis.com/site/contact_us.php for directions to our headquarters. We look forward to seeing you at the annual meeting.

By Order of the board of directors,
South San Francisco, California


April 21, 2011

Eric H. Bjerkholt
Senior Vice President, Corporate Development and Finance, Chief Financial Officer and Corporate Secretary

You are cordially invited to attend the annual meeting in person. Whether or not you expect to attend the annual meeting, please vote as promptly as possible in order to ensure your representation at the annual meeting. You may vote your shares over the telephone or the Internet as instructed in these materials. If you received a proxy card or voting instruction card by mail, you may submit your proxy card or voting instruction card by completing, signing, dating and mailing your proxy card or voting instruction card in the envelope provided. Even if you have voted by proxy, you may still vote in person if you attend the annual meeting. Please note, however, that if your shares are held of record by a broker, bank or other nominee and you wish to vote at the annual meeting, you must obtain a proxy issued in your name from that record holder.

Important Notice Regarding the Availability of Proxy Materials for the Annual Meeting of Stockholders to be Held at 10:00 a.m., Pacific Time, on Friday, June 3, 2011 at Sunesis Pharmaceuticals, Inc. located at 395 Oyster Point Boulevard, Suite 400, South San Francisco, CA 94080.
The proxy statement and annual report to stockholders are available at https://materials.proxyvote.com/867328.
The board of directors recommends that you vote “For” each of the proposals identified above.

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WHADDYA MEAN I CAN BE PRESIDENT OF THE USA.ITS STILL WE THE PEOPLE.RIGHT?

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CAPTNEMOS
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Got my ask at $2.84 see if it fills ill take my pay for the day.

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WHADDYA MEAN I CAN BE PRESIDENT OF THE USA.ITS STILL WE THE PEOPLE.RIGHT?

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i can feel the MOMO dying out.im out.

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WHADDYA MEAN I CAN BE PRESIDENT OF THE USA.ITS STILL WE THE PEOPLE.RIGHT?

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m69jump
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this coming month snss will be or should be over 5.00,,,,,,,,,,,,,,,,,
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Hello SNSS. I see that your at $3.03. Thank you god i love you!
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I think i might buy some shares once it levels out or goes down again a little.
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CAPTNEMOS
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i will be watching again.im out at $2.88 avg.nice 9gs.$$$$$$$.thank you once again mr jump.

--------------------
WHADDYA MEAN I CAN BE PRESIDENT OF THE USA.ITS STILL WE THE PEOPLE.RIGHT?

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We are at $2.90, i am waiting for the jump.
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here we go, lets break $3 once more
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CAPTNEMOS
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ELTP SO MUCH BETTER AND CHEAPER THAN THIS ONE.BETTER BOOKS,MORE PRODUCTS,TENTH OF THE PRICE.

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WHADDYA MEAN I CAN BE PRESIDENT OF THE USA.ITS STILL WE THE PEOPLE.RIGHT?

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CAPTNEMOS
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SNSS IS IN THE TOP TEN OF MOST HYPED STOCKS.

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WHADDYA MEAN I CAN BE PRESIDENT OF THE USA.ITS STILL WE THE PEOPLE.RIGHT?

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m69jump
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do we hit gold????? hell ya bring it,,,,,,,,,,
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theman
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Yea well the stock is paying off. We are now at $3.08, reaching new heights
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The Dow was down almost 300 points and i made 15 cents on SNSS. Today the dow is down 80 points and its still going up.
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m69jump
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http://ih.advfn.com/p.php?pid=nmona&article=47955888&symbol=SNSS
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theman
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Well since the stock has fallen .50cents, im guessing the meeting is not going well. Or people are scared to see what the outcome is. Any other thoughts?
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tick tick
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CAPTNEMOS
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most hyped,accumulating debt,pos.wont have revs till 2013?1 of the most overpriced stocks.ILL KEEP SAYING IT ELTP IS 16C AND HS MORE PRODUCTS.THIS STOCK SHOULD NOT BE A $2 STOCK IT SHOULD BE .0006.TOO MANY PEOPLE ARE HOLDING THIS.!!

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WHADDYA MEAN I CAN BE PRESIDENT OF THE USA.ITS STILL WE THE PEOPLE.RIGHT?

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