Page 1

Viracta | Investor Relations Viracta Therapeutics Reports Second Quarter 2021 Financial Results and Provides Clinical and Corporate Updates Initiated NAVAL - 1 , a global pivotal trial for the treatment of relapsed / refractory EBV - positive lymphoma Received FDA clearance of IND application for a Phase 1b / 2 trial in EBV - positive solid tumors Strengthened management team with the appointment of Ayman Elguindy , Ph.D. , as Chief Scientific Officer Cash and cash equivalents of approximately $ 122.7 million as of June 30 , 2021 SAN DIEGO , Aug. 12 , 2021 / PRNewswire / -- Viracta Therapeutics , Inc. ( Nasdaq : VIRX ) , a precision oncology company targeting virus - associated malignancies , today announced financial results for the second quarter of 2021 and provided clinical and corporate updates . " We entered the second half of the year with strong momentum thanks to the completion of key milestones across our pipeline , " said Ivor Royston , M.D. , President and Chief Executive Officer of Viracta . " We believe Viracta is strongly- positioned to advance our novel therapy for the treatment of EBV - positive cancers forward , with our pivotal NAVAL - 1 trial now open for enrollment and the recent clearance of our IND for EBV - positive solid tumors paving the way for a multicenter Phase 1b / 2 trial . These two trials are targeting patient populations with a significant unmet medical need , and our expansion into solid tumors could meaningfully broaden our addressable patient market . " Second Quarter 2021 and Recent Highlights Clinical • NAVAL - 1 , a global pivotal trial in Epstein - Barr virus ( EBV ) -positive ( EBV + ) relapsed / refractory ( R / R ) lymphoma , now open for enrollment . NAVAL - 1 ( Nanatinostat in Combination with Valganciclovir ) is a global , multicenter , open - label Phase 2 basket trial . The trial , which will include multiple subtypes of R / R EBV - positive ( EBV + ) lymphoma patients , is designed to evaluate the anti - tumor activity of the combination treatment of nanatinostat with valganciclovir and is anticipated to enroll up to approximately 140 patients . The primary endpoint of the trial is objective tumor response rate as assessed by an independent review committee . If successful , Viracta believes this trial could support multiple new drug application ( NDA ) filings across various EBV + lymphoma subtypes . • Announced FDA clearance of IND application for a Phase 1b / 2 trial in EBV + solid tumors . The multicenter Phase 1b / 2 trial is designed to evaluate the safety and preliminary efficacy of Viracta's all - oral combination regimen in patients with advanced EBV + solid tumors , and in combination with the PD - 1 inhibitor pembrolizumab in recurrent or metastatic nasopharyngeal carcinoma . Initiation of the trial is expected in the second half of 2021 . Corporate • Strengthened company leadership with the appointment of Ayman Elguindy , Ph.D. , as Chief Scientific Officer , and additional key additions to management team . Dr. Elguindy has over 23 years of experience studying the role of viruses in cancer and spent the last decade as a faculty member at the Yale University School of Medicine , most recently as an Associate Professor in the Department of Pediatrics , Section of Infectious Disease , and Department of Pathology . Viracta also recently appointed Patric Nelson , MBA , as Senior Vice President , Business Development and Corporate Strategy and Biljana Nadjsombati , Pharm.D . , as Vice President , Pharmaceutical Development . • Added as a member of the Russell 2000 ® Index and other FTSE Russell indexes . In June 2021 , Viracta was included as a member of the small - cap Russell 2000Ⓡ Index , the all - cap Russell 3000® Index , and the Russell MicrocapⓇ Index . • Hosted key opinion leader webinar . The webinar featured presentations by key opinion leaders ( KOLs ) Pierluigi Porcu , M.D. ( Thomas Jefferson University ) and Kristen Cunanan , Ph.D. ( Stanford Medicine Quantitative Sciences Unit ) who discussed the current treatment landscape and unmet medical need in R / R EBV + lymphoma , and the design of NAVAL - 1 . For a replay of the webinar , click here . Anticipated 2021 Milestones • Initiation of a global Phase 1b / 2 clinical trial in EBV + solid tumors : H2 2021 • Updated data from Phase 1b / 2 trial in R / R EBV + lymphoma ( VT3996-201 ) : H2 2021 Second Quarter 2021 Financial Results • Cash position - Cash and cash equivalents totaled approximately $ 122.7 million as of June 30 , 2021. Viracta expects to end 2021 with greater than $ 100 million in cash and cash equivalents , which it expects will be sufficient to fund its operations into 2024 . • Research and development expenses - Research and development expenses were $ 5.4 million and $ 9.5 million for the three and six - months ending June 30 , 2021 , respectively , compared to $ 3.4 million and $ 6.8 million for the same periods in 2020. This increase was primarily due to incremental costs associated with the initiation of the NAVAL - 1 trial .