Viracta Therapeutics, Inc. - VIRX STOCK NEWS

Viracta Therapeutics (NASDAQ: VIRX) announced a strategic reprioritization focused on its Nana-val development program for EBV-positive peripheral T-cell lymphoma patients. The company implemented a 42% workforce reduction, expecting to incur approximately $0.7 million in severance expenses. Additionally, Viracta's Board of Directors was reduced from ten to six seats following the voluntary resignation of four directors. These measures aim to conserve resources and streamline operations while advancing towards a potential NDA submission for their lead indication.

Viracta Therapeutics (Nasdaq: VIRX), a clinical-stage precision oncology company, announced its participation in the H.C. Wainwright 26th Annual Global Investment Conference. The event is scheduled for September 11, 2024, at 8:30 a.m. EDT in New York City. Mark Rothera, President and CEO of Viracta, will be presenting at the conference.

Viracta focuses on developing treatments for virus-associated cancers that affect patients worldwide. Investors and interested parties can access a live webcast of the presentation through the company's website under the 'Events and Presentations' section. The webcast will remain archived for 90 days following the event, allowing for later viewing.

Viracta Therapeutics (Nasdaq: VIRX) reported Q2 2024 financial results and provided a business update. Key highlights include:

• Positive data from the Phase 2 NAVAL-1 trial of Nana-val in EBV+ PTCL patients, with a 33% overall response rate and 19% complete response rate
• Updated clinical development plan for Nana-val in EBV+ PTCL, with a randomized controlled trial planned for H2 2025
• Appointment of Michael Faerm as CFO
• Financial position: $30 million in cash as of June 30, 2024, expected to fund operations into Q1 2025
• Net loss of $9.8 million ($0.25 per share) for Q2 2024, compared to $12.5 million ($0.32 per share) in Q2 2023

The company is focusing on its EBV+ lymphoma program and has implemented a 23% workforce reduction.

Viracta Therapeutics (Nasdaq: VIRX) announced positive data from the Phase 2 NAVAL-1 trial for its Nana-val therapy in relapsed or refractory EBV-positive peripheral T-cell lymphoma (PTCL). Key highlights include:

1. Overall response rate (ORR) of 33% and complete response rate (CRR) of 19% in the intent-to-treat population.

2. In the second-line EBV+ PTCL subpopulation, ORR was 60% and CRR was 30%.

3. Median duration of response not yet reached.

4. Generally well-tolerated safety profile.

Viracta plans to initiate a randomized controlled trial (RCT) in 2025 to support potential registration, focusing on second-line EBV+ PTCL patients. The company aims for a potential NDA filing in 2026 for accelerated approval based on interim analysis of the NAVAL-1 trial data.

Viracta Therapeutics, a clinical-stage precision oncology company, announced new employment inducement grants in connection with the appointment of Michael Faerm as the Chief Financial Officer. The Board granted Faerm a non-qualified stock option to purchase 500,000 shares of common stock under the 2021 Inducement Equity Incentive Plan. A new non-executive employee was also granted options to purchase 10,000 shares. Each option vests over four years, with 25% vesting on May 13, 2025, and the rest in monthly increments over the next 36 months, contingent on continuous service. The exercise price is $0.804 per share, matching the closing price on May 14, 2024.

Viracta Therapeutics (Nasdaq: VIRX) has appointed Michael Faerm as Chief Financial Officer, effective immediately. Faerm brings over 25 years of experience in life sciences, equity research, and investment banking. His previous roles include Interim CFO at Harpoon Therapeutics, CFO at Artiva Biotherapeutics, and senior positions at Innoviva, Forest Laboratories, and Regeneron Pharmaceuticals. CEO Mark Rothera highlighted Faerm's experience as important for advancing Viracta's Nana-val treatment for EBV-associated cancers. Faerm expressed enthusiasm for joining Viracta and contributing to its mission of developing innovative therapies.

Viracta Therapeutics reported positive topline results from Stage 1 of the Phase 2 NAVAL-1 trial, showing strong efficacy and safety of Nana-val in treating EBV+ PTCL. The company plans to engage with the FDA for accelerated approval and expects more data in Q3 2024. Nana-val also showed promising results in Phase 1b/2 study for advanced EBV+ solid tumors. Positive engagement with PMDA enables enrollment in Japan. Financially, Viracta has $39.6 million in cash as of Q1 2024.

Viracta Therapeutics, a clinical-stage precision oncology company, is set to present at the RBC Capital Markets Global Healthcare Conference. The event will feature the President and CEO, Mark Rothera, and the Chief Medical Officer, Dr. Darrel P. Cohen. The presentation is scheduled for May 14, 2024, at 11:00 a.m. EDT and will be available for live webcast and archived on the Viracta website.

Viracta Therapeutics reports positive topline results from Stage 1 of the NAVAL-1 trial in patients with relapsed or refractory EBV+ PTCL. Nana-val combination therapy shows an overall response rate of 50% and a complete response rate of 20% in the intent-to-treat population, with manageable safety profile. Data presented at 2024 Joint Annual Congress of Taiwan Society of Blood and Marrow Transplantation and The Hematology Society of Taiwan.