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SNSS - Sunesis Pharmaceuticals Inc. - Page 16

post #301 of 466
Well that was an... interesting day today...?
I still have a belief this will hit at least 50% in 2 months or less.. but today must have shaken people up.
All those who got in at the 0.8 range probably sold off for 10%.
post #302 of 466
Hit a peak of 0.96 today... this thing is really been turbulent.
Anybody have any information of where this is heading. The management is slow on press releases. ASCO here we come!
post #303 of 466
What is up with the bids? In the past two days I've seen .0093 and 95.00.
post #304 of 466
This stock is really going to get going, eventually. What is holding it back is lack of funding/lack of partnership. The drug, at least as far as AML is concerned, is already being scheduled for a phase 3. My only realy worry with this stock is dilution of shares. If they have not yet lined up a partner and do not make an announcement soon after early June, I would expect shares to be offered. They recently applied with an S-3 to be permitted to sell up to 60 mil in additional shares. That would definitely take them through phase 3 testing I believe, but I would much rather see a partnership. THEN, even after positive phase 2 results, this stock would really shoooott...according to the company, they currently have enough funding and cash to carry them through Sept 2010. Something will definitely happen one way or the other well before that month. Partnership may depend on phase 2 results when companies are more comfortable signing on with Sunesis--in that case, something would probably already be solidified--merely waiting to announce following ASCO.

Dilution, however, may eventually be good news. At least the issue of funding will be out of the way for Vorelexin, and if phase 2 turns out to be really positive, the potential for this drug and its stock price on a % increase basis, is great if you can avoid getting caught with shares prior to dilution. I want to hold my 40k shares for the long haul, but not until I am certain they have a partner lined up--in which case I will definitely be selling some after any run up. But I would be shocked if they diluted prior to ASCO--it doesnt really matter what the stock is doing because they have the permission for 60 mil, and 60 mil is 60 mil whether the stock is at $1 or $2...but I would think they would care enough about their shareholders to dilute as little as possible and wait until a period of time permits them to offer as few additional shares as possible. I would also be shocked if they diluted after securing a partnership. It would hardly be considered necessary.

I think this stock, run up to ASCO or not, can easily hit 1.50, it was nearly 1.25 on a minor run up just a couple weeks back prior to their most recent financial report. This stock will move like the tension released from a slingshot on very positive news since the uncertainties have subdued the price and strongly kept it in check as of late. I think the hesitation to move the price, especially if it continues prior to ASCO will serve to propel the stock even further if news is exceptionally optimistic. ....and if partnership comes soon after, this thing will shoot up to and even over $2. It would be smooth sailing from there---fast track application may follow and announcement of phase 3 later in the second half of 2010 would be inevitable...great news potential for the foreseeable future. Just please please partner!!!!
post #305 of 466
Does anyone know when the AML presentation will be or is that not being released by ASCO until May 20? Im hoping prior to the Ovarian cancer presentation...reason being is that the AML results generally seem more expected to be positive, while the ovarian cancer results are more mysterious. If the AML pres. occurs first, I would expect a decent movement...then on June 7, if results havent been released pre market or after market the day prior, a stop order can be used during real trading hours to protect any gains accumulated in case the stock comes back on iffy or less than well received ovarian cancer results. But be careful not to get caught on a sell off by the weak holders who sell immediately upon news release, even if the news is stellar.

Also, I believed they dropped their lung cancer testing due to lackluster results. One might insinuate they would have done the same if ovarian cancer was equally resilient to the drug as lung cancer appeared to be...the fact that they are orally presenting the results on ovarian cancer to this point could give us quite an uplifting surprise, but pure speculation. If Im up 25k it sure will be difficult to hold prior to ovarian cancer results, knowing I can see a good deal of those potential profits dwindle away.

really hoping for some strong discussion on this stock and company--please share your opinion and responses
post #306 of 466
Ok came across more info and possibilities. Read the following two links if interested. Apparently they have the right and ability to commit to a reverse stock split--that’s terrible for the stock at this point, at least in my experience, but the good news is it most likely will not happen soon, if at all...and Ill get to why

http://finance.google.com/group/google.finance.700545/browse_thread/thread/44dd520ee4b2baaa?hl=en[/URL]


http://ir.sunesis.com/secfiling.cfm?...93125-10-83825

these two links demonstrate that SNSS, in order to satisfy NASDAQ listing requirements of maintaining a price above 1.00 for 10 consecutive day, can issue a reverse stock split. It seems just protocol though, almost a last chance option--voting takes place 6-2 when they also have a shareholders meeting...but they have until september 27 to bring their standing into compliance--if you recall, current funding will carry them at least through the month of sept 2010....I would hope they have enough faith in their company that they believe the price by then will take care of itself and a stock split will not be necessary---the current stock split option, approved in 2009, seems to expire on 6-18--this vote will give the company permission to issue a reverse split if they so choose, before the next expiration date which would be some time down the road, probably june 2011--it is NOT a vote to implement a split--just a vote to gain permission


Meeting (vote) June 2 2010:

"ratio ranging from one-for-three (1:3) to one-for-fifteen (1:15). A
similar amendment to effect a reverse stock split at an exchange ratio
ranging from one-for-five (1:5) to one-for-fifteen (1:15) was
previously approved at the 2009 Annual Meeting of Stockholders;
however, the Board has not yet elected to effect the reverse stock
split and its authorization to do so expires as of June 18, 2010. You
are now being asked to vote again upon an amendment to our amended and
restated certificate of incorporation. Should we receive the required
stockholder approval, the Board will have the sole authority to elect,
at any time prior to the first anniversary of the Annual Meeting: "


Note that a reverse stock split was approved in 2009 but NEVER used for all these months--so that’s a good sign I think--but it brings up another small dilemma...if they dilute shares to raise money would they then do a reverse split? this would be a double whammy crusher for shareholders...is that possible, legal, ethical even? selling 50 million shares and then eliminating those shares with a reverse split? if so, those are two bits of bad news that could make this stock nasty if you get caught on it--at the same time, a reverse split probably wont be necessary in the short term if phase 2 moves the stock price--but again, that brings up the question--soon to be announced partnership? or dilution? one thing is for sure--if the stock moves well over $1...they may hope it holds for 10 days over that price in order to not have to use a reverse split...so once the stock moves over $1...don’t worry about a reverse split until it comes below $1, and only if it does so prior to exceeding $1 for 10 consecutive days---it would be absolutely pointless to reverse then in my opinion--reverses, as they claim, do not gain the attention of institutional buying all the time

just came to me after reading an SNSS thread I provided--the company will NOT reverse split prior to june 7 and ASCO presentation...because they already have the right to do so at any time until june 18...if they planned on doing this, they wouldn’t be voting now to extend that option for another year, following the expiration of the previous amendment to be able to conduct a reverse split...so if a reverse was in the works, this vote would be completely irrelevant...besides,,,they have until late sept to come into compliance...they would really be jumping the gun by reversing now, with all that time ahead of them and all the potential good news to move the stock--its too risky for them and us, so why do it now when you don’t have to? that’s another argument...you wouldn’t jump off a bridge to save your life if you knew the bridge wasn’t going to crumble for another 4 months right??? you would wait to see if you could come up with other less risky options

so yes, potential good news throughout the year--remember fast track potential, phase 3 announcement, partnership--see how crucial partnership is? ive been saying it all along--it will eliminate reversing, most likely eliminate dilution, eliminate tons of uncertainty--and give this company smooth sailing until phase 3 completion or the results of the trials are known...THEN and ONLY THEN can this stock stand on what it should, its phase 2 results and its phase 3 potential...if you hear ANYTHING positive about partnership OR takeover---get on this stock without much of a second thought


bottom line, seems the distant uncertainties may again in the future weigh the stock down if not cleared up soon after phase 2, but setting yourself up for phase 2 results, if you think it will be positive and move the stock a decent %, is still a good move--the risk is elevated after the results are priced in because there is little telling what the company has in mind afterwards--hoping for a satisfying jump now til june, so I can mostly jump out and hold my remaining position with a few thousand shares
post #307 of 466
Nice volume today!
I'm seeing us hit over $1 this week and holding it.
May 20th is a big day up until June 7th!
post #308 of 466
bought some today here at 0.95$ good looks to all!
post #309 of 466
Narrowing bollinger bands in the chart today could indicate a potential upswing coming up in a few days.

chart.ashx?t=snss&ta=1&p=d&s=l
stock-chart-str.aspx?id=snss&ca=24062939
post #310 of 466
Last chance to get in before we go over a dollar this week!
My estimate: We will hit $1.50 sometime this week. We just need to get over that $1...
post #311 of 466
With R/S in the air - No way.
Better wait after R/S occurs and the financing to buy at cheaper price.
The same pattern for ANX and DARAD
post #312 of 466
So what does these abstracts mean for Sunesis and Vorelexin? Did they release any new information or are they holding it until June 7?
post #313 of 466
damn this is low.. might get in soon
post #314 of 466
Thinking of buying in as well, been following this one for a while now.
post #315 of 466
Man this is really taking a beating, although on low volume. Its testing the 200ma on the daily right now.
post #316 of 466
and broke under it
post #317 of 466
The sad part of this stock is that the results were positive, yet the stock price is plummeting.
post #318 of 466
In at .78 today.
post #319 of 466
Quote:
Originally Posted by Sniper001 View Post
The sad part of this stock is that the results were positive, yet the stock price is plummeting.

The Ovarian cancer results were not incredible--I think investors were expecting something more, 11% ORR is only fair, IMHO--the other results were in line with expectations and the drug looks good for AML--REALLY good...this stock tends to move on press releases and well after testing results/findings are made public--hopefully that is the case this time around, and Sunesis may still have additional announcements to make during ASCO, just be patient--the weak, disappointed, and impatient holders are being flushed out now--thats actually good news regardless of stock price

...I will hold through the June 7 presentations...still hoping some major player comes through to help fund them after substantiating the phase 2 AML results--if not they will eventually be forced to dilute shares before Sept 2010 when they run out of current funding...Ill be out after a run up because good chance that they will dilute shares if a partner hasnt been lined up--and without a run up, they may eventually force themselves to perform a reverse split, yuck!--if they announce a partner I am in for the long haul....this stock lives or dies on that...so pray and pray hard
post #320 of 466
nice steady climb on somewhat low volume. It just dipped, I'm waiting to see if it resumes its climb after lunch.
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