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Sunesis Pharmaceuticals Reports Fourth Quarter and Full-Year 2007 Financial Results
Date:3/11/2008

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
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SOURCE Sunesis Pharmaceuticals
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