Sunesis Pharmaceuticals Announces Change in Leadership
December 04 2017 - 4:05PM
- Daniel Swisher Resigns as CEO Effective End of
2017; to Remain with Sunesis as a Strategic Advisor -
Sunesis Pharmaceuticals, Inc. (Nasdaq:SNSS) today announced that
Daniel Swisher has resigned from his position as President and
Chief Executive Officer, effective December 31, 2017, to pursue
another executive opportunity. Mr. Swisher will remain with the
Company as a Strategic Advisor to the Board of Directors through
2018.
To lead the company until a permanent CEO is
appointed, the Sunesis Board of Directors has appointed Dayton
Misfeldt, a member of the Board since 2009, as Interim CEO,
effective January 1, 2018. The Board has also formed a search
committee to find a permanent replacement for Mr. Swisher.
“We thank Dan for his tremendous contributions
as CEO of Sunesis over the past years, and we wish him well on his
future endeavors,” stated James Young, Ph.D., Chairman of the Board
of Directors. “There is significant potential for our kinase
inhibitor portfolio, including our lead non-covalent BTK inhibitor
SNS-062, to provide cancer patients with new treatment options in
areas of high unmet need. We are now focused on finding a new CEO
with strong experience in pharmaceutical development to work
closely with the existing management team to unlock the portfolio’s
full value potential.”
“I am grateful for the opportunity to have
worked with the Sunesis Board and management team, as well as all
of our clinicians, investors and corporate partners during my
tenure as CEO of Sunesis,” said Mr. Swisher. “Sunesis has an
experienced and dedicated internal leadership team in place and a
promising kinase inhibitor pipeline with multiple upcoming
inflection points. I look forward to working closely with
Dayton to ensure a smooth transition.”
About Sunesis
Pharmaceuticals
Sunesis is a biopharmaceutical company focused
on the development and commercialization of new oncology
therapeutics for the future treatment of solid and hematologic
cancers. Sunesis has built an experienced cancer drug development
organization committed to improving the lives of people with
cancer. The Company is focused on advancing its novel
kinase-inhibitor pipeline, with an emphasis on establishing proof
of concept that its oral non-covalent BTK-inhibitor, SNS-062, is
effective in ibrutinib-resistant chronic lymphocytic leukemia.
SNS-062 is currently being evaluated in a Phase 1b/2, open-label,
sequential-group, dose-escalation and cohort-expansion study in
adults with chronic lymphocytic leukemia, Waldenstrom’s
macroglobulinemia, or mantle cell lymphoma who have progressed
after prior therapies. Beyond the development of SNS-062, the
Company has two other kinase inhibitor programs, including the
Takeda-partnered pan-RAF inhibitor TAK-580, which is in solid tumor
trials, and Sunesis’ proprietary preclinical PDK1 inhibitor
SNS-510, which has completed non-GLP toxicology studies and has
been designated a Development Candidate. PDK1 is a master
kinase that activates other kinases important to cell growth and
survival including members of the AKT, PKC, RSK and SGK
families.
For additional information on Sunesis, please
visit www.sunesis.com.
SUNESIS and the logos are trademarks
of Sunesis Pharmaceuticals, Inc.
This press release contains forward-looking
statements, including statements related to the search for a
permanent CEO replacement, continued development of SNS-062 and
further development and potential of its kinase inhibitor pipeline.
Words such as “future,” “look forward,” “potential,” “will” and
similar expressions are intended to identify forward-looking
statements. These forward-looking statements are based upon
Sunesis' current expectations. Forward-looking statements involve
risks and uncertainties. Sunesis' actual results and the timing of
events could differ materially from those anticipated in such
forward-looking statements as a result of these risks and
uncertainties, which include, without limitation, ability to hire
and retain key management; the risk related to the timing or
conduct of Sunesis' clinical trials, including SNS-062 Phase 1b/2
trial, the risk that Sunesis' clinical or preclinical studies for
SNS-062, SNS-510 or other product candidate may not demonstrate
safety or efficacy or lead to regulatory approval, the risk that
data to date and trends may not be predictive of future data or
results, risks related to the timing or conduct of Sunesis'
clinical trials, that Sunesis' development activities for SNS-062
or SNS-510 could be otherwise halted or significantly delayed for
various reasons, that Sunesis may not be able to receive regulatory
approval of SNS-062, or SNS-510 in the U.S. or Europe, and
risks related to Sunesis' ability to raise the capital that it
believes to be accessible and is required to fully finance the
development and commercialization of SNS-062, SNS-510 and other
product candidates. These and other risk factors are discussed
under "Risk Factors" and elsewhere in Sunesis' Quarterly Report on
Form 10-Q for the quarter ended September 30, 2017 and
Sunesis' other filings with the Securities and Exchange
Commission. Sunesis expressly disclaims any obligation or
undertaking to release publicly any updates or revisions to any
forward-looking statements contained herein reflect any change in
Sunesis' expectations with regard thereto or any change in events,
conditions or circumstances on which any such statements are
based.
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Investor and Media
Inquiries:Maeve ConneightonArgot Partners212-600-1902 |
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Dan SwisherSunesis
Pharmaceuticals Inc.650-266-3715 |
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