Sunesis Pharmaceuticals Earnings: Here’s Why the Stock is Up Now
Sunesis Pharmaceuticals Inc. (NASDAQ:SNSS) had a loss and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.19%.
Sunesis Pharmaceuticals Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-0.23 in the quarter versus EPS of $-0.30 in the year-earlier quarter.
Revenue: Was the same at $2 million as the year-earlier quarter.
Actual vs. Wall St. Expectations: Sunesis Pharmaceuticals Inc. reported adjusted EPS loss of $0.23 per share. By that measure, the company missed the mean analyst estimate of $-0.20.
Quoting Management: “We continue to make great progress with the VALOR trial, which has now enrolled 611 patients, keeping us on track to complete full enrollment in 2013,” said Daniel Swisher, Chief Executive Officer of Sunesis. “We expect a planned periodic safety analysis of VALOR by the trial’s independent Data and Safety Monitoring Board to occur in June, with unblinding expected in the first half of 2014 after reaching 562 events and locking the final study database.”
Key Stats (on next page)…
Revenue increased 0.5% from $1.99 million in the previous quarter. EPS decreased to $-0.23 in the quarter versus EPS of $-0.20 in the previous quarter.
Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a loss of $0.21 and has not changed. For the current year, the average estimate has moved up from a loss of $0.78 to a loss of $0.76 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)