MLV Initiates Coverage of Sunesis Pharmaceuticals with a Buy Rating

According to McNicoll Lewis Vlak, Sunesis Pharmaceuticals (NASDAQ: SNSS) coverage is initiated with a Buy rating.

MLV said that Sunesis Pharmaceuticals, Inc. is a biopharmaceutical company developing novel anti-cancer therapies. “Although vosaroxin is Sunesis' only significant asset at this time, we think Phase I/II trial results suggest it is an active drug and that the adaptive design of VALOR increases the probability of a successful trial. MLV is initiating coverage of Sunesis Pharmaceuticals, Inc. with a BUY rating and a one year price target of $3.50.”

Sunesis Pharmaceuticals closed yesterday at $1.22.