Sunesis Pharmaceuticals Inc. (SNSS: Quote) and Royalty Pharma announced after the close Thursday that Royalty Pharma has agreed to pay Sunesis $25 million, under certain circumstances related to the successful development of Sunesis' lead product candidate vosaroxin, to acquire a royalty on future worldwide net sales of vosaroxin.
Sunesis Pharmaceuticals gapped up at the open Friday and rose sharply in early trade. The stock has taken out the highs of the morning in the last few minutes and is now up 0.55 at $3.03 on above average volume. Sunesis has broken out of a 3-week range and is now challenging the highs of the year, trading at over a 9-month high.
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by RTT Staff Writer
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