Sunesis is a biopharmaceutical company focused on the development of their lead anti-cancer drug Voreloxin. Voreloxin is being tested for the treatment of AML (Acute Myeloid Leukemia) and Platinum-Resistant Ovarian Cancer.
In December, 2009, Sunesis presented positive results in two P2 trials of Voreloxin in AML. The results brought much-needed attention to the stock, and brought it as high as $2.43. Since then, the stock has pulled back to the $0.90 range.
Also, due to the positive P2 results in AML, Sunesis announced that they will be moving Voreloxin into a pivotal P3 trial, which they expect to initiate in the second half of 2010.
On June 7, at the annual ASCO (American Society of Clinical Oncology) meeting, Sunesis will present trial results from P2 trials in AML and Ovarian Cancer -- they have an oral presentation in ovarian cancer (a big deal for a small company like Sunesis).
Sunesis represents a unique investment opportunity, they have just under 60M shares outstanding, a potential blockbuster cancer drug (Voreloxin), possibly some great ovarian cancer data, and the fairly-likely possibility of a runup in anticipation of ASCO.
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Disclosure: Long SNSS