Welcome to our dedicated page for Verastem news (Ticker: VSTM), a resource for investors and traders seeking the latest updates and insights on Verastem stock.
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 Dr. Channing Der to its Scientific Advisory Board to enhance the company's research on RAS pathway-driven cancers, notably the RAF/MEK clamp VS-6766. Dr. Der, a distinguished researcher from the University of North Carolina, brings extensive experience in RAS and RHO oncogenes. His unique insights may significantly influence the therapeutic potential of VS-6766. The company is currently advancing clinical trials involving VS-6766, having received Breakthrough Therapy designation from the FDA for its application in recurrent low-grade serous ovarian cancer.
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 KRASG12C inhibitor, with Verastem's VS-6766, a RAF/MEK inhibitor, in treating KRASG12C-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 KRASG12C-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 KRASG12C 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.
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