Shares of Sunesis Pharmaceuticals (SNSS) plunged to a one-year low Monday after the company announced its experimental drug vosaroxin failed to reach the primary endpoint in a phase III trial. Andrew Meola Oct 6, 2014 11:31 AM EDT
Full Answer
Is Sunesis Pharmaceuticals a good stock to buy?
Sunesis Pharmaceuticals, Inc. was founded in 1998 and is headquartered in South San Francisco, California. Sunesis Pharmaceuticals has received a consensus rating of Buy.
What is the Sunesis Pharmaceuticals reverse split?
Shares of Sunesis Pharmaceuticals reverse split before market open on Thursday, September 3rd 2020. The 1-10 reverse split was announced on Wednesday, September 2nd 2020. The number of shares owned by shareholders was adjusted after the market closes on Wednesday, September 2nd 2020.
Who is the CEO of Sunesis Pharmaceuticals?
4 employees have rated Sunesis Pharmaceuticals CEO Dan Swisher Jr. on Glassdoor.com. Dan Swisher Jr. has an approval rating of 82% among Sunesis Pharmaceuticals' employees. Who are some of Sunesis Pharmaceuticals' key competitors?
How many insiders own Sunesis Pharmaceuticals?
In the past three months, Sunesis Pharmaceuticals insiders have not sold or bought any company stock. Only 4.22% of the stock of Sunesis Pharmaceuticals is held by insiders. Only 28.41% of the stock of Sunesis Pharmaceuticals is held by institutions.
The drugmaker is having to take a last-resort measure to keep its shares listed on the Nasdaq stock exchange
Keith began writing for the Fool in 2012 and focuses primarily on healthcare investing topics. His background includes serving in management and consulting for the healthcare technology, health insurance, medical device, and pharmacy benefits management industries. Follow @keithspeights
What happened
Shares of Sunesis Pharmaceuticals ( NASDAQ:SNSS) are sinking today, down 10.4% as of 11:35 a.m. EDT after falling as much as 19.3% earlier in the session. The decline stemmed from the company's announcement on Wednesday evening that it planned to conduct a 1-for-10 reverse stock split .
So what
Reverse stock splits don't negatively impact investors. They just reduce the number of shares held while pumping up the value of each share. So why did the small biotech stock fall today? Well, reverse splits are never a good sign for a company.
Now what
Sunesis announced in July that it planned to review "strategic alternatives to maximize shareholder value." These alternatives included in-licensing assets, partnerships, and mergers and acquisitions. The company won't publicly disclose any progress on this front, though.
About Sunesis Pharmaceuticals
Sunesis Pharmaceuticals, Inc., a biopharmaceutical company, focuses on the development and commercialization of targeted inhibitors for the treatment of hematologic and solid cancers.
Sunesis Pharmaceuticals (NASDAQ:SNSS) Frequently Asked Questions
1 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Sunesis Pharmaceuticals in the last twelve months. There are currently 1 buy rating for the stock.
