Viracta Therapeutics reports Q4 EPS (27c), consensus (38c)

Reports Q4 cash, cash equivalents and short-term investments totaled approximately $91M as of December 31, which Viracta expects will be sufficient to fund its operations into late 2024, excluding any additional borrowing under a $50M credit facility, of which $25M remains available, at the Company’s request, subject to the discretion of the lenders. Research and development expenses – Research and development expenses were materially consistent for the three months ended December 31 and 2021 totaling approximately $6.7M and $7.3M respectively. .."Over the past months we made important progress towards our goal of developing Nana-val as a tumor agnostic therapy for patients with difficult-to-treat EBV-associated cancers," said Mark Rothera, President and Chief Executive Officer of Viracta. "The latest data from our solid tumor trial showed a confirmed partial response and no dose limiting toxicities through three of five planned dose levels in patients with recurrent or metastatic nasopharyngeal carcinoma. We look forward to reporting data from the full dose escalation part of the trial, selecting our recommended Phase 2 dose, initiating the Phase 2 nasopharyngeal carcinoma expansion cohort and evaluating Nana-val in additional EBV-positive solid tumors later this year. Our pivotal NAVAL-1 trial site footprint continues to grow as we seek to advance multiple EBV-positive lymphoma subtypes into Stage 2 of this global study. With these anticipated milestones ahead of us and a cash runway into late 2024, we believe Viracta is well-positioned to generate value for patients and shareholders over the coming months."