On July 28, 2020, Sunesis Pharmaceuticals, Inc. executed a payoff letter to repay in full all outstanding indebtedness and terminate all commitments and obligations under its term loan agreement dated April 26, 2019, as amended (“Loan Agreement”), with Silicon Valley Bank (“SVB”). Under the payoff letter, the Company has agreed to pay to SVB approximately $5.7 million, which will satisfy all of the Company’s debt obligations, including a final payment equal to 4% of the original principal amount of the borrowing. The material terms of the Loan Agreement are described in the Company’s Form 10-Q filed with the Securities and Exchange Commission (“SEC”) on May 7, 2020.