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Verastem, Inc. (NASDAQ: VSTM) is a pioneering biopharmaceutical company dedicated to discovering and developing innovative drugs that target cancer stem cells. These cells are a significant factor in tumor recurrence and metastasis, posing a substantial challenge in the treatment of various cancers. Verastem's mission is to translate groundbreaking cancer stem cell research into new medicines that address major cancers, including breast cancer.
The core focus of Verastem lies in advancing novel anticancer agents, particularly those inhibiting critical signaling pathways that promote cancer cell survival and tumor growth. This includes the development of RAF/MEK inhibitors and FAK inhibitors. These targeted therapies are designed to intercept the mechanisms that allow cancer cells to thrive and spread, offering hope for more effective treatments.
One of the company's notable projects involves the combination of avutometinib (a RAF/MEK clamp) and defactinib (a FAK inhibitor). This drug combination has shown promising results and has been granted breakthrough therapy designation for treating recurrent low-grade serous ovarian cancer (LGSOC), regardless of KRAS status, after one or more prior lines of therapy, including platinum-based chemotherapy.
Verastem has also entered into a strategic partnership with GenFleet Therapeutics, a clinical-stage biotechnology company. This collaboration aims to advance three oncology programs, with GFH375 being the first selected candidate. GFH375, an oral KRAS G12D inhibitor, targets both the
Verastem, Inc. (Nasdaq: VSTM) announces that the FDA has granted Breakthrough Therapy designation for its investigational combination of VS-6766, a RAF/MEK inhibitor, with defactinib, a FAK inhibitor. This designation aims to expedite development for patients with recurrent low-grade serous ovarian cancer (LGSOC) after one or more therapies. Preliminary data from the FRAME trial shows a 52% overall response rate. The designation could facilitate quicker access to new treatment options for patients suffering from this challenging cancer type.
Verastem, Inc. (Nasdaq: VSTM) reported a net loss of $15 million for Q1 2021, or $0.09 per share, an improvement from a $38 million loss in Q1 2020. Total revenue decreased to $1 million from $5.1 million year-over-year. Operating expenses also reduced to $15.1 million, primarily due to strategic shifts following the COPIKTRA sale. The company has $127.1 million in cash, indicating a runway until at least 2024 for its ongoing studies on VS-6766 and defactinib targeting recurrent low-grade serous ovarian cancer and KRAS G12V non-small cell lung cancer.
Verastem, Inc. (Nasdaq: VSTM) reported a Q4 2020 revenue of $0.5 million, down from $3.6 million YoY. Despite a net loss of $19.9 million ($0.12/share), they ended 2020 with $147.2 million in cash. The Company launched two Phase 2 studies for its lead candidate VS-6766 in recurrent low-grade serous ovarian cancer and KRAS-G12V mutant non-small cell lung cancer. Operating expenses are projected at $50 million for 2021, and financial guidance indicates funding availability until at least 2024. Overall, the company is optimistic about clinical advancements and strategic positioning.
Verastem, a biopharmaceutical company focused on cancer treatment, will participate in the virtual H.C. Wainwright Global Life Sciences Conference. The fireside chat will be accessible for on-demand listening starting March 9, 2021, at 7:00 a.m. EST. Interested individuals can find the webcast in the 'Media' section of Verastem's website under 'Events & Presentations.'
Verastem's mission is to develop new medicines targeting critical pathways that promote cancer cell survival and tumor growth, with a focus on RAF/MEK and FAK inhibition.
Verastem, Inc. (Nasdaq: VSTM) announced the immediate departure of Chief Medical Officer Frank Neumann, M.D., Ph.D., who is leaving for another opportunity. CEO Brian Stuglik reassured stakeholders that Neumann's exit will not impact the company's strategic goals or ongoing projects, especially in RAS positive cancers. Verastem remains focused on developing innovative treatments to enhance cancer patient care. The company emphasizes its commitment to addressing unmet medical needs amidst ongoing advancements in its drug pipeline.
Verastem, Inc. (Nasdaq: VSTM) announced the grant of stock options and restricted stock units (RSUs) to five new employees as an inducement for their employment, totaling 86,250 options and 43,125 RSUs, with exercise prices set at $2.20 per share. Additionally, Chief Medical Officer Frank Neumann received 350,000 stock options and 150,000 RSUs, with an exercise price of $2.22. Vesting for these awards occurs over four years, contingent on continued service to the company.
Verastem, Inc. (Nasdaq: VSTM) has appointed Dr. Frank Neumann as Chief Medical Officer, aiming to bolster its clinical and regulatory strategy. With extensive oncology experience, Dr. Neumann will focus on advancing therapies, particularly VS-6766 and defactinib, for challenging KRAS mutant tumors. The company emphasizes the significance of these therapies in addressing unmet patient needs, supported by promising clinical trial results. Verastem’s commitment to developing innovative cancer treatments remains strong, as it navigates the complexities of drug development in the oncology sector.
Verastem, Inc. (Nasdaq:VSTM) announced its participation in the virtual H.C. Wainwright BioConnect 2021 Conference. The company's fireside chat will be available for on-demand listening starting January 11, 2021, at 6:00 a.m. EST. This event emphasizes Verastem's commitment to advancing new cancer treatments. The webcast can be accessed through the 'Media' section of the company’s website under 'Events & Presentations.'
Verastem focuses on developing small molecule drugs targeting critical cancer signaling pathways, including RAF/MEK and FAK inhibition.
Verastem, Inc. (Nasdaq: VSTM) has launched a Phase 2 clinical trial of VS-6766, a RAF/MEK inhibitor, combined with defactinib, a FAK inhibitor, for patients with KRAS mutant non-small cell lung cancer (NSCLC). This trial targets the G12V mutation, which has limited treatment options. The RAMP 202 study aims to determine the optimal regimen and assess efficacy and safety. If successful, it may improve therapeutic outcomes for NSCLC patients. The trial follows Verastem's recent initiation of another Phase 2 study of these compounds in ovarian cancer.
Verastem, Inc. (Nasdaq: VSTM) has initiated a Phase 2 clinical trial for its RAF/MEK inhibitor, VS-6766, and FAK inhibitor, defactinib, targeting patients with recurrent low-grade serous ovarian cancer (LGSOC). The study aims to evaluate the efficacy and safety of VS-6766, both alone and in combination with defactinib. This follows promising early results indicating significant clinical activity in KRAS mutant cancers. The trial is crucial in addressing the unmet needs in treating this tough-to-treat cancer type, which impacts many patients with limited options.
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