Stocks On Radar: Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS); Spansion Inc. (NYSE:CODE); Amkor Technology, Inc. (NASDAQ:AMKR)

Boston, MA 10/13/2014 (wallstreetpr) – Bio tech firm Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS) was downgraded by both RBC Capital Mkts and ROTH Capital last week. Analysts from the two agencies have pegged the stock at Sector Perform and Neutral respectively post the downgrade. The down grade was accompanied by an investor frenzy to exit the stock. This was due to the company announcement that its phase 3 clinical trials for drug candidate “(vosaroxin) and cytarabine” had failed to meet the end point goals of the tests. The tests indicated that the survival rate of the test had hovered around the 7.5 months mark, as compared to the 6.1 months mark achieved by the bench mark. The stock was trading 14.9 percent down compared to previous day close on 10th October.

Embedded systems and solutions provider Spansion Inc. (NYSE:CODE) announced that it has plans to develop new age products which would be positioned in the market under the HyperRAM™ branding. These products would be built on the company’s proprietary Spansion HyperBus™ interface. The new products are expected to improve performance while reducing the pins required overall. The solutions would be produced in collaboration with Integrated Silicon Solution, Inc. (NASDAQ:ISSI). Both firms are contracted to enjoy full sales rights on the HyperRAM™ family of products.  They both have entered into a supply agreement to manage their collaboration.

Amkor Technology, Inc. (NASDAQ:AMKR) issued a public press note on 12th October to provide information about its long running legal dispute with Tessera Technologies, Inc. (NASDAQ:TSRA). The issue revolves around a 1996 agreement that the two companies had entered into with regards to license sharing. The press note indicated that the United States Patent and Trademark Office set up Patent Trial and Appeal Board had decided to deny Amkor Technology, Inc. (NASDAQ:AMKR) requests with regards to the U.S. Patent No. 6,046,076.

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