Sunesis Shares Drop As Biotech Drops Leukemia Drug Marketing Application

By Wallace WitkowskiMarketsMarketWatch Pulse

Sunesis Pharmaceuticals Inc. shares dropped in the extended session Monday after the tiny biotech said it pulled a European marketing application for a leukemia treatment. Shares of South San Francisco, Calif.-based Sunesis fell 18% to $3 in after-hours trading. The company said recent interactions with the European Medicine Agency suggested that the regulatory body was likely to adopt a negative opinion of the drug vosaroxin for the treatment of a type of leukemia in patients who were 60 years or older. Sunesis said it was reducing resources for its leukemia research and shifting them to other areas.

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