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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 Oncology (Nasdaq: VSTM) has appointed Robert Gagnon to its Board of Directors, effective December 13, 2022. Gagnon, previously Chief Financial Officer at Verastem, brings over 20 years of financial expertise. His role aims to enhance the company's strategic goals, particularly in treating low-grade serous ovarian cancer and RAS-driven tumors. Verastem's investigational drug, avutometinib, is in late-stage development, having received Breakthrough Therapy designation from the FDA for LGSOC treatment, indicating its potential significance in addressing unmet medical needs.
Verastem Oncology (Nasdaq: VSTM) reported its Q3 2022 financial results, highlighting advancements in its RAMP program for Avutometinib (VS-6766) targeting RAS pathway-driven tumors. The RAMP 201 trial showed encouraging interim results, paving the way for a Q4 meeting with the FDA to discuss treatment regimens for low-grade serous ovarian cancer. The company ended the quarter with $104 million in cash and reported a net loss of $18.1 million. Operating expenses increased to $17.7 million due to higher R&D costs, while non-GAAP adjusted net loss was $16.6 million.
Verastem Oncology (Nasdaq: VSTM) has appointed Anil Kapur to its Board of Directors, effective October 20, 2022. Mr. Kapur brings over 25 years of experience in oncology and commercial operations, having held senior roles at Geron Corporation, Actinium Pharmaceuticals, and Bristol-Myers Squibb. His expertise will be pivotal as Verastem advances its lead compound, VS-6766, which is currently in late-stage development for recurrent low-grade serous ovarian cancer. The company is also conducting several clinical trials involving this compound in various cancer types.
Verastem Oncology (Nasdaq: VSTM) announced the granting of stock options for 22,500 shares and 15,000 restricted stock units (RSUs) to a new employee. These awards were issued under the Nasdaq inducement grant exception, aligning with Nasdaq Listing Rule 5635(c)(4). The exercise price of the stock options is
Verastem Oncology (Nasdaq: VSTM) has announced updates on its RAMP clinical trials. The RAMP 201 trial for recurrent low-grade serous ovarian cancer (LGSOC) shows promising results, prompting an FDA meeting in Q4 to discuss regulatory paths. Conversely, the RAMP 202 trial for KRAS G12V-mutant non-small cell lung cancer (NSCLC) did not meet criteria for continuation, with an overall response rate of only 11%. Ongoing trials RAMP 203 and RAMP 204 are progressing, and newly issued patents extend coverage of VS-6766 and its combinations to 2038 and 2040.
Verastem Oncology (Nasdaq: VSTM) reported interim findings from its RAMP 201 trial for VS-6766 +/- Defactinib in low-grade serous ovarian cancer, displaying encouraging efficacy results and a favorable safety profile. The company has cash reserves of $94.3 million, expected to last until at least 2025. Financial results for Q2 2022 showed a net loss of $22.0 million, with total revenue at $0.0 million. Operating expenses rose to $21.4 million, primarily driven by research and development costs. The company also received a patent extending VS-6766 protection to 2038.
Verastem Oncology (Nasdaq: VSTM) has granted stock options for 120,500 shares and 80,400 restricted stock units (RSUs) to four new employees as an inducement for their employment. The options have an exercise price of
Verastem Oncology (Nasdaq: VSTM) announced encouraging interim results from its RAMP 201 trial, which is assessing the efficacy of VS-6766 alone and in combination with defactinib for recurrent low-grade serous ovarian cancer (LGSOC). The analysis showed confirmed anti-tumor responses in both KRAS mutant and wild-type tumors, with approximately 80% of patients remaining on therapy. Importantly, no new safety signals were observed. The trial will continue as data maturation is necessary for making further treatment regimen decisions. Full enrollment is anticipated in the second half of the year.
Verastem Oncology has been awarded the inaugural Therapeutic Accelerator Award by the Pancreatic Cancer Network (PanCAN) for $3.8M, aimed at conducting a Phase 1b/2 clinical trial. This trial will explore the combination of VS-6766 (a RAF/MEK inhibitor) and defactinib (a FAK inhibitor) to enhance treatment responses in patients with metastatic pancreatic cancer. The trial addresses KRAS mutations present in over 95% of pancreatic tumors, with the goal of improving survival rates for affected patients.
Verastem Oncology (Nasdaq: VSTM) reported financial results for Q1 2022, securing up to $150 million in non-dilutive funding from Oxford Finance. The company completed enrollment in the selection phases of the RAMP 201 and RAMP 202 trials for VS-6766 and Defactinib in treating low-grade serous ovarian cancer and KRAS G12V mutant non-small cell lung cancer. Q1 revenue reached $2.6 million, up from $1.0 million year-over-year, with a net loss of $17.0 million. The company expects cash runway through 2025 to support ongoing development and potential launches.
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