Sunesis Announces Pricing of $12 Million Offering of Common Stock

SOUTH SAN FRANCISCO, Calif., July 29, 2020 (GLOBE NEWSWIRE) -- Sunesis Pharmaceuticals, Inc. (Nasdaq: SNSS) today announced the pricing of an underwritten public offering of 52,173,913 shares of its common stock. The public offering price of each share of common stock is $0.23. Sunesis expects to receive gross proceeds of approximately $12 million from this offering, before deducting the underwriting discounts and estimated offering expenses. Sunesis has granted the underwriters a 30-day option to purchase up to an additional 7,826,086 shares of common stock to cover over-allotments, if any. This offering is expected to close on or about July 31, 2020, subject to customary closing conditions. Sunesis anticipates using the net proceeds from the proposed offering to fund ongoing development of PDK1 inhibitor SNS-510 and general corporate purposes. Oppenheimer & Co. Inc. is acting as the sole book-running manager in this offering. The securities described above are being offered by Sunesis pursuant to a shelf registration statement previously filed with the Securities and Exchange Commission (the "SEC"), originally filed with the SEC on June 8, 2017 and which the SEC declared effective on November 21, 2017. A preliminary prospectus supplement related to the offering has been filed with the SEC To keep reading about Sunesis Announces Pricing of $12 Million Offering of Common Stock, Click on the link. Seoul, Korea
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