Sep 24th 2012 - Edison Investment Research today published a report on Sunesis Pharmaceuticals entitled "VALOR Data In Q114". In summary, the report says:
Sunesis’s implementation of the pre-planned, 225-patient, cohort expansion in its pivotal Phase III VALOR study means final data on vosaroxin in relapsed/refractory AML are now due in early 2014. The expansion followed an interim analysis and confirms that vosaroxin is showing a clinically-relevant survival benefit and ensures the study has the statistical power to demonstrate it. Sunesis has also triggered a royalty funding arrangement it had put in place in anticipation of this scenario. We have updated our valuation to reflect the new timelines and financing arrangements and assumed higher probability of success. We now value Sunesis at $350m or $7.46 per share (basic) or $6.56 per share fully diluted.
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