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Sunesis Pharma (SNSS) is rallying after USPTO notification news. |
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Released on Tuesday, February 14, 2012, 2:30 PM ET
Pittsburgh, PA (SpeculatingStocks) - Sunesis Pharmaceuticals (NASDAQ:SNSS) announced today notice of allowance for a US patent application covering compositions from their lead drug candidate, Vosaroxin. This is great news because the patent that SNSS has filed will grant Sunesis exclusive rights to particular Active Pharmaceutical Ingredient compositions of Vosaroxin and also the final product related to the API compositions. The patent exclusivity would extend to mid-2030 in the US.
SNSS' Vosaroxin is an anti-cancer quinolone derivative, (AQD), a class of compounds that has not been used previously for the treatment of cancer. SNSS has built a highly experienced cancer drug development organization committed to advancing its lead product candidate, Vosaroxin, in multiple indications to improve the lives of people with cancer.
The stock is receiving buzz on Twitter today and has been in a solid uptrend since trading at around $1.25 at the beginning of this year. The 7%+ move that SNSS is seeing today could just be the start of bigger things to come for this stock. We could see SNSS become discovered further during Wednesday's trading session.
SNSS has a superb balance sheet with no long-term debt and over $53 million in cash and short-term investments while the company is trading at a market cap of only around $87 million. It appears that after this patent development that SNSS may be significantly undervalued at its current level.
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