Verastem Stock Price, News & Analysis

Verastem Oncology (NASDAQ: VSTM) has outlined its strategic priorities for 2022, focusing on the development of its lead compound, VS-6766, which targets recurrent low-grade serous ovarian cancer and KRAS-mutant non-small cell lung cancer (NSCLC). The company is advancing its RAMP clinical trials and has received Breakthrough Therapy designation from the FDA for VS-6766 combined with defactinib. Key milestones include expected data readouts from ongoing trials, further study expansions, and collaborations in KRAS G12C-mutant NSCLC, aiming to address significant unmet medical needs.

Verastem Oncology (Nasdaq: VSTM) announced the grant of stock options and restricted stock units (RSUs) totaling 2,438 shares to two new employees as part of their inducement for employment. The options have an exercise price of $2.10 per share, which corresponds to the market closing price on January 3, 2022. These options and RSUs will vest 25% on the one-year anniversary of hiring, with the remainder vesting quarterly over three years, contingent on continued employment. The inducement is in accordance with Nasdaq Listing Rule 5635(c)(4).

Verastem Oncology (Nasdaq: VSTM) announced its participation in two upcoming virtual investor conferences. The H.C. Wainwright BIOCONNECT Virtual Conference will feature a fireside chat available on-demand starting January 10, 2022, at 7:00 a.m. ET. Additionally, the B. Riley Oncology Conference will host a fireside chat on January 28, 2022, at 9:30 a.m. ET. Webcasts of both chats will be accessible through the investor section of the company's website, www.verastem.com, along with archived presentations following each event.

Mirati Therapeutics and Verastem Oncology announced a clinical collaboration to assess the combination of Mirati's adagrasib, a KRAS^G12C inhibitor, with Verastem's VS-6766, a RAF/MEK inhibitor, in treating KRAS^G12C-mutant non-small cell lung cancer (NSCLC). This multi-center trial aims to evaluate the maximum tolerated and recommended doses, alongside safety and efficacy in patients resistant to existing treatments. Both companies are optimistic about improved outcomes for patients facing high unmet needs in NSCLC.

Mirati Therapeutics (Nasdaq:MRTX) and Verastem Oncology (Nasdaq:VSTM) announced a collaboration to evaluate the combination of Mirati's adagrasib and Verastem's VS-6766 in treating KRAS^G12C-mutant non-small cell lung cancer (NSCLC). The Phase 1/2 trial aims to determine the maximum tolerated dose and assess safety and efficacy in patients who have progressed on a KRAS^G12C inhibitor. The collaboration targets unmet needs in NSCLC treatments, potentially enhancing patient outcomes.

Verastem Oncology (NASDAQ: VSTM) announced its participation in the Jefferies London Healthcare Conference, with an on-demand presentation available starting November 18, 2021, at 8:00 a.m. GMT (3:00 a.m. ET). A webcast will be accessible via the company's investor website, and an archived version will be available for 30 days. Verastem is dedicated to developing new cancer therapies, focusing on small molecule drugs that inhibit key signaling pathways critical for tumor growth and cell survival.

Verastem Oncology (Nasdaq: VSTM) has announced a clinical collaboration with Amgen to evaluate VS-6766 with LUMAKRAS™ in non-small cell lung cancer (NSCLC) and reported Q3 2021 results. The company has achieved a median progression-free survival (PFS) of 23.0 months in low-grade serous ovarian cancer (LGSOC), supported by FDA Breakthrough Therapy designation. However, Q3 revenues fell to $0 million from $78.6 million YoY, resulting in a net loss of $(22.8) million. Verastem expects a cash runway until at least 2024, with annual operating expenses projected at $55-60 million.

Verastem Oncology (Nasdaq: VSTM) announced the appointment of Michelle Robertson to its Board of Directors, effective November 15, 2021. Robertson, currently the CFO at Editas Medicine, will chair the audit committee, filling the vacancy left by Gina Consylman. The board's lead director, Michael Kauffman, praised Robertson's finance expertise as an asset amid ongoing development of RAS-targeted treatments. Robertson expressed enthusiasm about Verastem's commitment to improving outcomes for patients with RAS pathway cancers.

Verastem Oncology (Nasdaq: VSTM) announced the appointment of Louis J. Denis, MD, as Chief Medical Officer, granting him options to purchase 450,000 shares of common stock and 150,000 restricted stock units (RSUs). The stock options are part of an inducement material to his acceptance of the role, according to Nasdaq Listing Rule 5635(c)(4). A stock option of 300,000 shares will vest over time, while 150,000 shares will vest upon meeting specific clinical milestones. Both options have an exercise price of $2.81, based on the closing price on September 20, 2021.