Sunesis plots $15.5M offering to support trial

Sunesis Pharmaceuticals is offering 44.1 million units, each consisting of one share of its common stock and a warrant to purchase 0.5 of a share of its common stock, at a public offering price of $0.35 per unit. The company anticipates it will raise $15.5 million from the offiering, which is expected to close on October 6. The company plans to use the funding to support a Phase III clinical trial of vosaroxin in combination with cytarabine in patients with relapsed or refractory acute myeloid leukemia, and for working capital and general corporate purposes.

- here's Sunesis' release on the offering

ALSO: Nasdaq has granted Sunesis a six-month extension for regaining compliance with the market's $1 per share minimum price rule. Report