BioCentury
ARTICLE | Financial News

Sunesis raises $28.5 million

June 30, 2010 11:47 PM UTC

Sunesis Pharmaceuticals Inc. (NASDAQ:SNSS) said late Wednesday that it raised $28.5 million through the sale of 103.6 million shares at $0.28 in the third and final tranche of a March 2009 offering, bringing the total raised in the offering to $43.5 million. The price is a 41% discount to Sunesis' close of $0.47 on Wednesday, before the final tranche was announced. As a result of the closing, the $15 million raised in series A preferred stock in the earlier tranches convert into 43.5 million shares. Bay City Capital; New Enterprise Associates; Alta Partners; Caxton Advantage Life Sciences Fund; Merlin Nexus; Nextech Venture; OpusPoint Partners; Venrock; Vision Capital Advisors; and company management participated in the offering. ...