Categories Earnings, Health Care

Sunesis Pharmaceutical (SNSS): Q4 2019 Earnings Snapshot

pharma stocks
Image for representation (Photo by Drew Hays on Unsplash)

— Sunesis Pharmaceuticals (NASDAQ: SNSS) reported loss of $0.05 per share in the fourth quarter of 2019, vs $0.07 per share loss expected. 

— Net revenue rose to $2.1 billion, vs. $310,000 expected. The growth in topline was driven by revenue recognized from the upfront payments received under the license agreements with DOT-1 and Denovo.  

— Cash and cash equivalents rose to $34.6 million, from $13.7 million a year ago. The growth was primarily due to net proceeds from the issuance of common and preferred stock, and proceeds from the SVB loan. 

— SNSS shares fell over 2% immediately following the announcement.   

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