Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS) Investor Investigation Over Potential Violations Of Federal Securities Laws Announced

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Company Name(s): 
Sunesis Pharmaceuticals
Affected Securities: 

July 28, 2015 (Shareholders Foundation) - An investigation on behalf of investors of Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS) shares over potential securities laws violations by Sunesis Pharmaceuticals and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS) concerning whether a series of statements by Sunesis Pharmaceuticals regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Sunesis Pharmaceuticals, Inc. reported that its annual Total Revenue declined from $7.96 million in 2013 to $5.73 million in 2014 and that its respective Net Loss increased from $34.60 million to $43.00 million.

Shares of Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS) grew to as high as $7.66 per share in September 2014.

On July 23, 2015, Sunesis announced that the United States Food and Drug Administration will not approve its blood cancer drug Qinprezo based on available data, and that the Company must provide more clinical evidence supporting approval of Qinprezo.

Shares of Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS) declined to as low as $0.92 per share.