Viracta Therapeutics announces exploration of strategic alternatives

Viracta Therapeutics (VIRX) announced that its Board of Directors has initiated a process to explore a broad range of strategic alternatives. To maximize its cash runway while the Board conducts its review of strategic alternatives, Viracta has elected to close its ongoing pivotal Phase 2 clinical trial of Nana-val in relapsed/refractory EBV+ lymphomas. The company emphasized that its decision to voluntarily close the trial is not the result of any new safety finding. “As we continue to look for ways to conserve resources and maximize value for the company, we made the very difficult decision to close the NAVAL-1 study while the Board undertakes its strategic review,” stated Mark Rothera, President and Chief Executive Officer of Viracta. “I would like to thank the physicians and patients who participated in this important study, as well as the Viracta team members who worked so tirelessly on this program. I continue to believe that Nana-val has the potential to improve the treatment of relapsed/refractory EBV+ lymphomas, and I remain hopeful that it will one day be approved.” Viracta is making this announcement to inform shareholders and the public that the company is engaging in discussions for strategic alternatives with the goal of maximizing value. Potential alternatives include, but are not limited to, a merger, licensing agreement, sale or other strategic transaction.