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Fly News Breaks for December 5, 2017
SNSS
Dec 5, 2017 | 06:08 EDT
Wells Fargo analyst Jim Birchenough downgraded Sunesis Pharmaceuticals to Market Perform following the resignation of the company's CEO Daniel Swisher. While the executive is pursuing an attractive opportunity at a larger biopharmaceutical company, the move highlights the early stage nature of Sunesis' pipeline, extended timelines for development and potential risk in realizing the potential for lead BTK inhibitor SNS062, Birchenough tells investors in a research note. The analyst cut his price target for the shares to $2 from $5.
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