employee- and office-related expenses.
-- In the fourth quarter ended December 31, 2007, Sunesis recorded a $0.3
million additional restructuring charge as a result of the company's
reorganization and reduction in force in the third quarter of 2007.
For the year ended December 31, 2007, an aggregate of $1.6 million in
restructuring charges was recorded. Cash restructuring costs accounted
for approximately $1.1 million of the total $1.6 million restructuring
charge for the year.
-- Sunesis reported a net loss of $8.8 million for the fourth quarter of
2007 and of $38.8 million for the twelve-month period ended December
31, 2007, compared to a reported net loss of $9.0 million and $31.2
million, respectively, for the three-month and twelve-month periods
ended December 31, 2006.
-- In 2008, Sunesis expects net cash used in operating activities of
approximately $30 million - $35 million in the absence of any new
collaborations, compared to $34.5 million in 2007. A decrease in net
cash used in operating activities is anticipated primarily due to the
reorganization effected in August of last year, partially offset by
increased costs associated with clinical trial and other development
activities for SNS-595, SNS-032 and SNS-314.
Conference Call Information
Sunesis' management will host a conference call to review the results
of the fourth quarter and the 2007 fiscal year today at 10:30 a.m. EDT.
Individual and institutional investors can access the call via 877-604-9668
(U.S. and Canada) or 719-325-4904 (international). To access the live audio
webcast or the subsequent archived recording, visit the "Investors and
Media - Calendar of Events" section of the Sunesis website at
http://www.sunesis.com. Please log on to Sunesis' website severa
|SOURCE Sunesis Pharmaceuticals|
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