Sunesis Pharmaceuticals Inc (NASDAQ:SNSS) has a new shareholder in the form of Bihua Chen‘s Cormorant Asset Management. As per a new 13G filing with the Securities and Exchange Commission, the fund has acquired 1 million common shares of the company, which represent 5.14% of the float. According to its 13F filing for the end of the second quarter, the fund held no shares of Sunesis Pharmaceuticals at the end of June.
As its name suggests, Sunesis Pharmaceuticals Inc (NASDAQ:SNSS) is a clinical-stage biopharmaceutical company that is working on the production of its pipeline of oncology therapeutics. Cormorant’s acquisition of shares comes a couple of weeks after the company announced a spot secondary offering of 4.936 million shares at $3.85 per share, which could be what opened the door for Cormorant to build its position. Over the past 12 months, the company’s stock has lost 29.92%. For the second quarter of 2016, Sunesis Pharmaceuticals reported a loss per share of $0.12 and revenue of $0.61 million, both of which missed expectations of a loss per share of $0.10 and revenue of $1.04 million.
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11 hedge funds from within Insider Monkey’s database reported having long positions in Sunesis Pharmaceuticals Inc (NASDAQ:SNSS) as of the end of June, up by two from a quarter earlier. Among the investors with the largest positions were Jeffrey Jay and David Kroin’s Great Point Partners (8.17 million shares), William Leland Edwards’ Palo Alto Investors (6.97 million shares), Julian Baker and Felix Baker’s Baker Bros. Advisors (4.45 million shares), and Richard Driehaus’ Driehaus Capital (1.95 million shares).
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You can access the original SEC filing by clicking here.
Ownership Summary Table
| Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
|---|---|---|---|---|---|---|
| Cormorant Global Healthcare Master Fund | 0 | 831,500 | 0 | 831,500 | 831,500 | 4.28% |
| Cormorant Global Healthcare GP | 0 | 831,500 | 0 | 831,500 | 831,500 | 4.28% |
| Cormorant Asset Management | 0 | 1,000,000 | 0 | 1,000,000 | 1,000,000 | 5.14% |
| Bihua Chen | 0 | 1,000,000 | 0 | 1,000,000 | 1,000,000 | 5.14% |
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Page 1 of 10 – SEC Filing
| UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 | OMB APPROVAL | |
| OMB Number:3235-0145 Expires: February 28, 2009 Estimated average burden hours per response… 10.4 |
| SCHEDULE 13G | ||
| Under the Securities Exchange Act of 1934 | ||
| (Amendment No. ___)* |
| Sunesis Pharmaceuticals, Inc. | ||
| (Name of Issuer) |
| Common Stock, par value $0.0001 per share | ||
| (Title of Class of Securities) |
| 867328502 | ||
| (CUSIP Number) |
| October 19, 2016 | ||
| (Date of Event which Requires Filing of this Statement) |
