Sunesis Pharmaceuticals, Inc. (NASDAQ: SNSS) is still soaked in losses and the management can be seen struggling to get the company out of the red. But what does the hiring of Linda Neuman as VP of clinical development mean for the company? Investors are hoping that she will help speed up the company’s clinical programs to pave way for revenues that can help the company become profitable. But the big question is, can she?
While announcing the appointed of Neuman to head the clinical program, Sunesis Pharmaceuticals, Inc. (NASDAQ: SNSS) touted her many years of experience in the field of clinical practice. The company also highlighted the accomplishments of Neuman in her past assignments.
Perfect timing for Sunesis Pharmaceuticals, Inc. (NASDAQ: SNSS)?
According to Sunesis, Neuman has had many research successes to her credit. She is said to be a great team player with hands-on experience at all levels of drug development. Therefore, Sunesis’ CEO, Daniel Swisher, believes the hiring of Neuman would not have come at a much better time for the company. Sunesis is in the process of seeking European marketing approval for its cancer drug candidate called vosaroxin. As such, Neuman is expected to help accelerate the process of obtaining European approval for vosaroxin.
But that will only be the beginning and Neuman herself hinted at what she believes is expected of her. She said that she was attracted to Sunesis Pharmaceuticals, Inc. (NASDAQ: SNSS) after seeing the depth and potential of its pipeline. According to Neuman, she is convinced that each drug candidate in Sunesis’ pipeline carries the potential to address enormous areas of unmet medical needs in the treatment of cancer. Therefore, Neuman is hoping to work closely with the entrepreneurial team at Sunesis to convert those compounds in the pipeline into marketable products that generate revenue.
Where can Neuman’s work be traced?
According to Sunesis Pharmaceuticals, Inc. (NASDAQ: SNSS), Neuman has worked with a number of biotech companies. Those include Puma Biotechnology Inc (NYSE:PBYI), Onyx Pharmaceuticals, Covidien Ltd (NYSE: COV) and Millennium Pharmaceuticals.
Sunesis Pharmaceuticals, Inc. (NASDAQ: SNSS) logged EPS loss of $0.12 on revenue of $0.64 million in the most recent quarter.