Recent Updates — VSTM
Verastem, Inc. entered into an underwriting agreement with Jefferies LLC and Guggenheim Securities to sell 30,937,500 shares of common stock and pre-funded warrants for up to 312,503 additional shares. The securities were priced at $8.00 per share and $7.9999 per warrant, respectively. After deducting underwriting discounts and estimated offering expenses, the company expects net proceeds of approximately $234.7 million. Closing is expected on or about October 15, 2026. Verastem operates in the biotechnology industry, developing targeted therapies for cancer.
Verastem announced that Daniel Paterson will retire as President and Chief Executive Officer on January 1, 2027. Michael Bailey has been appointed to succeed him as CEO and will continue serving as a Class II director. Mr. Paterson will remain on the Board of Directors as a Class III director and serve in an advisory capacity. The filing also disclosed preliminary Q3 2026 net product revenue estimated at $23.9 million to $24.1 million, compared to $11.2 million in the prior year period. Additionally, Verastem terminated its at-the-market equity offering prospectus with Cantor Fitzgerald and reported that the FDA accepted a New Drug Application for VS-7375 with priority review designation. Verastem is a biopharmaceutical company developing and commercializing medicines for RAS/MAPK pathway-driven cancers.
Verastem, Inc. entered into Amendment No. 3 to its Note Purchase Agreement with Oberland Capital Management LLC on August 6, 2026. The amendment establishes a new series of senior secured Revenue Notes with an aggregate purchase price of up to $75.0 million. An initial tranche of $50.0 million will be issued on August 28, 2026, and the Company may issue a second tranche of up to $25.0 million by May 15, 2027, contingent on worldwide net sales of avutometinib and defactinib reaching at least $40.0 million in the preceding quarter. These Revenue Notes replace previous conditional tranches and entitle purchasers to quarterly payments equal to 4.50% of net sales from products combining these drugs, reducing to 1.75% after paying back the funded amount by December 31, 2031. The notes mature on June 30, 2033. Verastem is a clinical-stage biopharmaceutical company developing targeted therapies for RAS/MAPK pathway-driven cancers.
Verastem Oncology reported second quarter 2026 financial results and announced a non-dilutive royalty financing agreement with Oberland Capital providing up to $75 million in cash, including $50 million at closing on August 28, 2026. The company also received a $15 million milestone payment from Secura Bio for COPIKTRA sales exceeding $200 million. Net product revenue for AVMAPKI FAKZYNJA CO-PACK reached $25.1 million in Q2 2026, up from $2.1 million in the prior year period, bringing total revenue to $40.1 million. The company ended the quarter with $136.4 million in cash and investments, rising to a pro forma $201.4 million after the Oberland closing and milestone receipt. Clinically, Verastem dosed the first patients in all three TARGET-D Phase 2 registration-directed trials for VS-7375 across pancreatic, lung, and colorectal cancers. The biopharmaceutical company develops and commercializes medicines for RAS/MAPK pathway-driven cancers.
Verastem, Inc. announced preliminary data from the TARGET-D 101 Phase 1/2 trial of VS-7375, an oral KRAS G12D inhibitor, showing anti-tumor activity in metastatic pancreatic ductal adenocarcinoma (mPDAC), metastatic colorectal cancer (mCRC), and advanced non-small cell lung cancer (NSCLC). In mPDAC, 93% of heavily pretreated patients receiving 900 mg QD monotherapy achieved over 50% reduction in the tumor marker CA19-9. The company also announced its intent to collaborate with Erasca, Inc. to evaluate VS-7375 in combination with ERAS-0015 in preclinical models. Key milestones include completing Phase 2 enrollment by the end of 2026 and meeting with the FDA to review Phase 3 pivotal trial designs. Verastem is a biotechnology company developing oncology treatments.
Verastem, Inc. announced positive updated results from the RAMP 205 Phase 1b/2a trial evaluating avutometinib plus defactinib with gemcitabine and nab-paclitaxel in first-line metastatic pancreatic ductal carcinoma. The combination therapy demonstrated an 86% overall survival rate at 6 months, a 68% progression-free survival rate at 6 months, and a 52% confirmed objective response rate. Additionally, the first patient has been dosed in the TARGET-D 201 Phase 2 registration-directed trial evaluating VS-7375 for KRAS G12D-mutated mPDAC. Verastem, Inc. is a biopharmaceutical company focused on developing investigational oncology-related drugs.