SNSS - Sunesis Pharma continues momentum after Q4 earnings beat consensus

Sunesis Pharmaceuticals ([[SNSS]] +32.5%) is extending yesterday’s double-digit gain after announcing the company’s financial results for the year 2020.Per the 10-K submitted today, the company’s diluted net loss per share for Q4 2020 has dropped ~68.1% YoY to $0.15 beating the consensus estimate of -$0.28. Revenue has reached $20K compared to $2.1M in the corresponding quarter for the previous year.The full-year net loss per share has dropped ~42.9% YoY to $1.53 per share ahead of the consensus estimates of $0.99. Revenue has declined to $120K from $2.1M in 2019 that was driven by upfront payments from license agreements with DOT-1 and Denovo.Yesterday, Oppenheimer upgraded Sunesis to outperform from perform with a price target of $12.00 per share implying ~180.4% upside to the previous close.The analysts led by Hartaj Singh attributed the rating change to the pipeline of Viracta Therapeutics which agreed to merge with Sunesis in November.

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Sunesis Pharma continues momentum after Q4 earnings beat consensus