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.