Sunesis Pharmaceuticals opens IPO price talk at $9-$11 per share

By Ted A. Knutson

Washington, Sept. 1 - Sunesis Pharmaceuticals, Inc. started the price talk on its planned initial public offering of common stock at $9 to $11 per share for 6 million shares with a greenshoe of up to 900,000 shares.

The South San Francisco, Calif.-based developer of small molecule oncology drugs made the announcement in an amendment to its S-1 registration with the Securities and Exchange Commission.

The underwriters are Lehman Brothers, SG Cowen & Co. and Needham & Co.

Sunesis estimated proceeds from the IPO at between $54.1 million and $62.4 million.

Most of the proceeds are being earmarked for clinical development of its drug candidates.

Sunesis has applied to have the stock approved for quotation on the Nasdaq National Market under the symbol "SNSS."

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