Sunesis Pharmaceuticals plans offering of convertible preferred stock

By Wendy Van Sickle

Columbus, Ohio, Oct. 24 – Sunesis Pharmaceuticals Inc. plans to offer series D convertible preferred stock, the company said in a news release on Tuesday.

Cowen & Co. and Wells Fargo Securities LLC are the joint bookrunning managers. Oppenheimer & Co. Inc. is the lead manager.

The company also plans to offer shares of its common stock, with each underwritten public offering in combination with warrants to purchase shares of its common stock.

The South San Francisco, Calif.-based biopharmaceutical company plans to use proceeds to fund the continued development of non-covalently binding inhibitor of Bruton's tyrosine kinase SNS-062, additional kinase inhibitor programs and for working capital and other general corporate purposes.

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