Verastem Stock Price, News & Analysis

Verastem Oncology (Nasdaq: VSTM) has announced the selection of an abstract detailing interim results from its RAMP 201 trial on avutometinib and defactinib in low-grade serous ovarian cancer (LGSOC) for presentation at the ASCO Annual Meeting on June 2–6, 2023, in Chicago, IL. The trial aims to determine the optimal treatment regimen for LGSOC, characterized by limited options and high recurrence rates. The expansion phase is fully enrolled, focusing on assessing the efficacy and safety of the selected regimen.

The FDA has granted Breakthrough Therapy designation for the combination treatment, which could become the first approved therapy specifically targeting LGSOC. Discussions with the FDA on confirmatory studies are ongoing, with plans for further enrollment in the combination arm of the trial.

Verastem Oncology (Nasdaq: VSTM) has announced its participation in the Stifel 2023 Virtual Targeted Oncology Days, scheduled for April 25, 2023, at 2:30 p.m. ET. During the event, the company will present advancements in biopharmaceuticals aimed at treating cancer patients. A live webcast will be accessible on the company's website, www.verastem.com, with an archived replay available for 90 days after the event.

Verastem focuses on developing novel small molecule drugs targeting critical pathways that enable cancer cell survival and growth, specifically through RAF/MEK and FAK inhibition. For further details on their innovative pipeline and initiatives, visit their website.

Verastem Oncology (Nasdaq: VSTM) granted stock options for 17,000 shares to a new employee as part of an inducement to accept their position. The options have an exercise price of $0.39 per share, equivalent to the company's closing stock price on April 3, 2023. Vesting will occur at a rate of 25% on the one-year anniversary of hire, with the remainder vesting quarterly over three years. Verastem focuses on developing new cancer therapies, targeting crucial pathways to hinder tumor growth.

Verastem Oncology has launched a new initiative titled Let’s Talk About LGSOC, aimed at raising awareness of low-grade serous ovarian cancer (LGSOC). Unlike its high-grade counterpart, LGSOC affects younger women and is associated with limited treatment options. The initiative offers essential information on LGSOC, including its distinct symptoms, and aims to connect patients and support networks. The median age of diagnosis is 45-55, and the disease often shows resistance to chemotherapy, with 85% recurrence post-remission. The initiative is designed to address the lack of dedicated resources for this under-investigated cancer type.

Verastem Oncology (Nasdaq: VSTM) reported positive interim results and ongoing advancements in its recurrent low-grade serous ovarian cancer (LGSOC) program. The combination therapy of avutometinib and defactinib demonstrated a confirmed objective response rate of 28% among 29 evaluable patients. The company's cash position improved to $87.9 million as of December 31, 2022, with a pro-forma estimate of $117.9 million post a $30 million funding from a Series B convertible preferred stock sale. Despite a net loss of $73.8 million for the full year, the firm remains focused on regulatory approval pathways and expanding clinical trials for RAS pathway-driven cancers.

Verastem Oncology (Nasdaq: VSTM) has made significant strides in advancing its lead compound, avutometinib, for treating recurrent low-grade serous ovarian cancer (LGSOC). The positive interim results from the RAMP 201 trial prompted plans for a confirmatory study, aiming for FDA accelerated approval in 2023. The company has strengthened its financial position, securing up to $150 million in non-dilutive financing and $60 million through a private placement. Upcoming milestones include data read-outs for other RAS pathway-driven cancers and continued enrollment in trials, enhancing its pipeline potential.

Verastem Oncology (Nasdaq: VSTM) has announced a private placement to sell approximately 2.1 million shares of Series B Convertible Preferred Stock, aiming to raise about $60 million. The sale will occur in two tranches: the first tranche of 1.2 million shares at a price of $0.5901 per share, expected to close on January 27, 2023, and the second tranche of 0.9 million shares at $0.75 per share, contingent upon specific trading conditions. The proceeds will be allocated for general corporate purposes, including R&D and clinical trials.