SUNESIS PHARMACEUTICALS, INC. (NASDAQ:SNSS) Files An 8-K Entry into a Material Definitive Agreement
|Entry into a Material Definitive Agreement.|
On June30, 2017, we entered into an amendment, or the Amendment,
to the Loan and Security Agreement dated March31, 2016, or the
Loan Agreement, with Western Alliance Bank and Solar Capital
Ltd., or, collectively, the Lenders, to amend certain terms of
the Loan Agreement.
The Amendment modifies the loan repayment terms to be
interest-only through July1, 2018, followed by twenty-two
(22)equal monthly payments of principal and interest through the
maturity date, contingent upon our receipt of at least Fifteen
Million Dollars ($15,000,000) in unrestricted cash proceeds
received after June1, 2017 from the issuance by the Company of
new equity securities any time after June1, 2017, but on or prior
to December31, 2017. We will also repay $6,666,666,68 of the
outstanding term loans and $115,375.94, which represents the
accrued portion of the final payment. The Lenders have agreed to
waive the applicable portion of the prepayment fee.
The descriptions of the Amendment contained herein do not purport
to be complete and are qualified in their entirety by reference
to the Amendment, a copy of which is attached hereto as Exhibit
10.1, and is incorporated by reference herein.
Creation of a Direct Financial Obligation or an
Obligation under an Off-Balance Sheet Arrangement of a
The disclosure in Item1.01 is incorporated by reference into this
|Financial Statements and Exhibits.|
Amendment to Loan and Security Agreement among Sunesis
Pharmaceuticals, Inc., Western Alliance Bank and Solar
Capital Ltd., dated as of June 30, 2017.
SUNESIS PHARMACEUTICALS INC ExhibitEX-10.1 2 d412483dex101.htm EX-10.1 EX-10.1 Exhibit 10.1 FIRST AMENDMENT TO LOAN AND SECURITY AGREEMENT This First Amendment to Loan and Security Agreement (this Amendment) is entered into as of June 30,…To view the full exhibit click
here About SUNESIS PHARMACEUTICALS, INC. (NASDAQ:SNSS)
Sunesis Pharmaceuticals, Inc. is a biopharmaceutical company. The Company focuses on the development and commercialization of its pipeline of oncology therapeutics for the treatment of solid and hematologic cancers. The Company offers QINPREZO (vosaroxin), which is a product candidate for the treatment of acute myeloid leukemia (AML). Vosaroxin is an anticancer quinolone derivative (AQD). The Company’s other kinase inhibitor pipeline include TAK-580, SNS-062 and SNS-229. TAK-580 is an oral, investigative drug selective for pan-Raf kinase inhibition, in patients with relapsed or refractory solid tumors. SNS-062 is a non-covalently binding inhibitor of Bruton’s tyrosine kinase (BTK). The Company has completed the pre-clinical studies for SNS-062. SNS-229 and SNS-510 are two PDK1 inhibitors. PDK1 is a kinase and mediator of Phosphoinositide 3-kinase/AKT (PI3K/AKT) signaling, which is a pathway involved in cell growth, differentiation, survival and migration.