Group 1 - The article discusses Verastem, Inc. (NASDAQ: VSTM) and its upcoming catalysts in 2024, particularly focusing on the NDA rolling submission of Defactinib [2] - The author is affiliated with Biotech Analysis Central, which provides extensive analysis on various pharmaceutical companies, including a library of over 600 biotech investing articles and a model portfolio [2] - The service offers a subscription model, with a monthly fee of $49 and an annual plan at a discounted rate of $399, which represents a 33.50% discount [1] Group 2 - The article does not provide any specific financial data or performance metrics related to Verastem, Inc. or the broader biotech industry [3][4]

Core Viewpoint - Verastem (VSTM) has shown significant price appreciation recently, closing at $6.40 with an 18.3% gain over the past four weeks, and analysts suggest there is substantial upside potential with a mean price target of $12.86, indicating a 100.9% upside [1]. Price Targets - The average price target consists of seven short-term estimates ranging from a low of $9 to a high of $20, with a standard deviation of $3.93, suggesting variability in analyst opinions. The lowest estimate indicates a 40.6% increase, while the highest suggests a 212.5% upside [2]. - A low standard deviation among price targets indicates a high degree of agreement among analysts regarding the stock's price movement direction, which can serve as a starting point for further research [9]. Earnings Estimates - Analysts are optimistic about VSTM's earnings prospects, as indicated by a strong consensus in revising EPS estimates higher, which has historically correlated with near-term stock price movements [11]. - Over the last 30 days, two earnings estimates for VSTM have been revised upward, resulting in a 23.9% increase in the Zacks Consensus Estimate [12]. Zacks Rank - VSTM currently holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate factors, which provides a more conclusive indication of the stock's potential upside in the near term [13].

Financial Performance - As of December 31, 2024, the company reported an accumulated deficit of $955.5 million and a net loss of $130.6 million for the year[492]. - Total revenue for the year ended December 31, 2024, was $10.0 million, a significant increase from $2.6 million in 2022, primarily due to the sale of the COPIKTRA license[524]. - The net loss for the year ended December 31, 2024, was $130.6 million, compared to a net loss of $87.4 million in 2023[524]. - Operating activities used $104.8 million in cash during 2024, compared to $86.5 million in 2023, primarily due to net losses adjusted for non-cash items[536]. - Interest income decreased to $4.1 million in 2024 from $6.2 million in 2023, attributed to lower interest rates and investment balances[529]. Research and Development - Research and development expenses totaled $81.3 million for the year ended December 31, 2024, an increase from $61.4 million in 2023[498]. - The company invested $25.1 million in the development of avutometinib and defactinib for LGSOC in 2024, up from $13.4 million in 2023[498]. - The total research and development expense for 2024 reflects a significant increase in costs associated with clinical trials and product development activities[499]. - Research and development expenses increased to $81.3 million in 2024 from $61.4 million in 2023, driven by higher costs in CROs, investigator fees, and consulting[526]. Cash and Investments - Cash, cash equivalents, and investments stood at $88.8 million as of December 31, 2024[492]. - Cash provided by investing activities in 2024 was $60.0 million, primarily from net maturities of investments[537]. - Cash provided by financing activities for the 2024 Period was $53.8 million, primarily from the issuance of common stock and warrants[538]. - Cash provided by financing activities for the 2023 Period was $91.4 million from a public offering of common stock and pre-funded warrants[538]. - As of December 31, 2024, the company had cash, cash equivalents, and investments totaling $88.8 million, down from $137.1 million in 2023[556]. Regulatory and Operational Concerns - The company anticipates continued operating losses due to the lack of regulatory approval for its product candidates[492]. - The company has not yet achieved regulatory approval for any product candidates, raising substantial doubt about its ability to continue as a going concern[492]. - The company anticipates continued operating losses and significant expenses in the foreseeable future[542]. Financing and Capital Structure - Future financing may include potential milestones and royalties from the Secura APA, collaboration agreements, or equity offerings[493]. - The company has raised capital through various means, including public and private stock offerings and collaboration agreements[491]. - The company has borrowed $40.0 million under a Loan Agreement, with interest rates subject to fluctuations based on market conditions[558]. - A 10% increase in current interest rates would have resulted in an immaterial increase in cash interest expense due to the interest rate floor and cap[558]. Tax and Valuation - As of December 31, 2024, the company had federal and state NOL carryforwards of $370.6 million and $56.7 million, respectively[551]. - The company recorded a 100% valuation allowance against its NOL and tax credit carryforwards, indicating uncertainty about realizing tax benefits[551]. Future Commitments - The company expects to spend approximately $60.0 million under the IQVIA Master Services Agreement over the next three to four years[549]. - The company has committed to spend on commercialization strategies for product candidates expected to launch in mid-2025[549]. Other Financial Metrics - The change in fair value of preferred stock tranche liability was related to the Series B Convertible Preferred Stock Securities Purchase Agreement, which expired in July 2024[507]. - The change in fair value of preferred stock tranche liability resulted in $4.2 million income for 2024, compared to $2.8 million in 2023[531]. - The change in fair value of warrant liability was an expense of $19.1 million in 2024, reflecting an increase in the value of liability classified warrants[532]. - Selling, general and administrative expenses rose to $43.6 million in 2024, up from $30.7 million in 2023, mainly due to increased personnel costs and expenses related to the anticipated launch of new products[527].

Agreement Details - Verastem, Inc. entered into a Note Purchase Agreement dated January 13, 2025, with RGCM SA LLC as the Purchaser Agent[17] - The agreement includes provisions for the purchase and sale of notes, with specific terms for payments of principal and interest outlined in Sections 2.2 and 2.3[3] - The agreement stipulates conditions precedent to the effective date and subsequent purchase dates, ensuring compliance with various financial covenants[3] - The agreement includes a grant of security interest, allowing the Purchasers to secure their investment against the Issuer's assets[4] - The agreement outlines negative covenants that restrict the Issuer from certain actions, such as mergers or acquisitions without prior consent[7] - The agreement includes provisions for events of default, detailing the circumstances under which the Purchasers can take remedial actions[9] - All financial references in the agreement are in United States Dollars, ensuring clarity in financial obligations[21] - The agreement includes schedules and exhibits that detail the commitments of the Purchasers and the structure of the notes being issued[14] Financial Obligations - The Issuer plans to issue and sell Notes in an aggregate principal amount of $75,000,000 for the First Purchase, $25,000,000 for the Second Purchase, and $50,000,000 for the Third Purchase, totaling a maximum of $150,000,000[23][24][25][26] - The Repayment Amount, along with any accrued and unpaid default interest, is due on the earlier of the Maturity Date or upon acceleration of all Obligations[27] - The Issuer has the option to repurchase all outstanding Notes, provided a five (5) Business Days' notice is given to the Purchaser Agent[28] - Revenue Participation Payments will be made quarterly based on the Issuer's good faith estimate of net cash receipts, subject to reconciliation based on final Net Sales[30][31] - Interest on the Notes will accrue at a per annum rate equal to the Applicable Rate, payable quarterly in arrears[36] - In the event of a Change of Control, the Required Purchasers may require the Issuer to repurchase outstanding Notes and pay all other Obligations[33] - The Issuer has the option to capitalize up to 50% of the interest owed as PIK Interest during the first eight Payment Dates[35] - The principal amount of the Notes will not exceed $150,000,000, excluding any PIK Interest[26] - The Default Rate for outstanding Obligations will increase by five percentage points (5.00%) upon an Event of Default[37] Compliance and Reporting - Verastem, Inc. is required to maintain financial statements in accordance with GAAP, ensuring transparency and accuracy in financial reporting[19] - The financial statements of the Issuer and its Subsidiaries fairly present their consolidated financial condition in accordance with GAAP[86] - The Issuer and its Subsidiaries are in compliance with all material Requirements of Law applicable to their operations[88] - Issuer must deliver unaudited financial statements within 45 days after each quarter, including cash flow projections[149] - Audited financial statements are required within 90 days after the fiscal year-end, with specific compliance certifications[150] - Issuer must provide quarterly reports detailing Clinical, Regulatory, and Commercial Updates, among other metrics[149] - A Revenue Report detailing gross and net sales of Included Products is required concurrently with financial statements[158] - The Issuer must maintain proper books of record and account in accordance with GAAP, ensuring all transactions are accurately recorded[160] Security Interests and Collateral - Each Obligor grants a continuing security interest in all rights, title, and interest in the Collateral to secure payment and performance of all Obligations[73] - The security interests granted will be a first priority perfected security interest in the Collateral, subject to Permitted Priority Liens[73] - Issuer must deliver Control Agreements for Collateral Accounts within twenty days of the First Purchase Date[64] - Issuer is required to provide a lender's loss payable endorsement in favor of Purchaser Agent within thirty days of the First Purchase Date[65] - Issuer must enter into appropriate security documentation to provide a first priority perfected security interest in all jurisdictions where Collateral exceeds $1,000,000 within ninety days of the First Purchase Date[68] - Purchaser Agent is authorized to file financing statements to perfect or protect its interest under the Note Documents[75] - Each Obligor pledges a security interest in all Shares and related proceeds as collateral for performance obligations[76] Legal and Regulatory Compliance - There are no pending or threatened legal actions involving more than $500,000 against the Issuer or its Subsidiaries[85] - The Issuer is solvent and will remain so after the issuance of the Notes[87] - The Issuer has not changed its jurisdiction of organization or incorporation in the past five years[78] - Issuer and its Subsidiaries have timely filed all required U.S. federal income and other material tax returns and reports, and have paid all taxes owed, with no claims or adjustments proposed that could result in additional taxes exceeding $50,000[95][96] - Issuer has maintained compliance with all Privacy Laws and has not experienced any unauthorized access or disclosure of Personal Data that would require notification under Privacy Laws[110][111] - All reports required to be filed under the Exchange Act have been duly filed and were in substantial compliance with the requirements, containing no untrue statements of material fact[97] - Issuer has taken commercially reasonable measures to protect and maintain the confidentiality of trade secrets related to Included Products, with no material trade secrets disclosed without confidentiality agreements[107] - Issuer has not received any warnings or notices from the FDA regarding material violations related to Included Products[118] Operational Compliance - Issuer and its Subsidiaries possess all necessary Regulatory Approvals for Included Products and have not received any notices that could lead to revocation or modification of these approvals[114] - All clinical trials related to Included Products were conducted in compliance with applicable laws and protocols, with no written communications from Regulatory Authorities recommending termination or suspension of these trials[115] - There have been no material violations or unresolved product complaints regarding Included Products that could result in a Material Adverse Change[119] - Issuer and its Subsidiaries have maintained compliance with good manufacturing practices and have not received any notices of deficiencies from Governmental Authorities[117] - No illegal payments or contributions have been made by Issuer or its Subsidiaries in the past six years, ensuring compliance with applicable laws[122] - Issuer has established a corporate compliance program addressing applicable Requirements of Law, ensuring adherence to regulations[125] Miscellaneous Provisions - The Issuer must keep its business and collateral insured for risks standard in its industry, with policies that are satisfactory to the Purchaser Agent[166] - The Issuer is obligated to maintain all properties and equipment necessary for its business in good working order, making necessary repairs and replacements[164] - The Issuer must provide prompt written notice of any litigation or governmental proceedings that could result in damages of $500,000 or more[184] - The Issuer must ensure that all material patents and trademarks are diligently maintained and defended against infringement[177] - The Issuer must provide Purchaser Agent with read-only online access to all Deposit Accounts, Securities Accounts, and Commodity Accounts[173] - The Issuer must notify Purchaser Agent of any Event of Default or events that could lead to an Event of Default within three business days[185] - The Issuer must conduct audits of its operations and collateral at least once a year, unless an Event of Default has occurred[161] - Any new office or business location with collateral valued over $500,000 requires a landlord or bailee waiver within 90 days of acquisition[186] - Transfers of assets exceeding $250,000 in aggregate per calendar year require prior written consent from the Required Purchasers[195] - Obligors are prohibited from engaging in businesses outside their current operations without prior consent[196] - Mergers or acquisitions require prior written consent from the Purchaser Agent, with specific financial limits on claims prior to closing[199] - The proceeds from the Notes must be used solely for working capital and general business requirements[190] - No employee pension benefit plans other than a customary 401(k) plan are permitted[189] - Unsecured and unsubordinated claims must rank at least pari passu with other unsecured creditors[188] - Any creation or acquisition of subsidiaries must be reported to the Purchaser Agent within 30 days[187]

Group 1 - The article discusses the investment opportunities related to Verastem (NASDAQ: VSTM) and its RAMP 201 program data, particularly focusing on the impact of avutometinib monotherapy and its combination therapies [1] - The author emphasizes the importance of innovative companies in the biotech sector that are developing breakthrough therapies and pharmaceuticals with potential acquisition catalysts [1] Group 2 - The author has a beneficial long position in VSTM shares, indicating a personal investment interest in the company [2] - The article is presented as an independent opinion without any compensation from the company mentioned, ensuring the analysis is based on personal insights [2]

Clinical Trial Results - The combination of avutometinib and defactinib has shown a confirmed overall response rate (ORR) of 31% in evaluable patients with measurable disease in the RAMP 201 study[138]. - Among patients with KRAS mutant LGSOC, the confirmed ORR was 44%, while for KRAS wild-type patients, it was 17%[138]. - The median duration of response was 31.1 months for all evaluable patients, with 22 months for KRAS mutant and 9.2 months for KRAS wild-type populations[138]. - The median progression-free survival was 12.9 months overall, with 22 months for KRAS mutant and 12.8 months for KRAS wild-type populations[138]. - Initial results from the RAMP 203 study showed a confirmed ORR of 25% in patients treated with the combination of avutometinib and LUMAKRAS[144]. - The RAMP 205 trial, supported by a $3.8 million grant from PanCAN, reported an overall response rate (ORR) of 83% in the dose level 1 cohort[147]. - The RAMP 301 study is currently enrolling patients with recurrent LGSOC regardless of KRAS mutation status, aiming for full approval of the combination therapy[143]. - The RAMP 204 study was closed to further enrollment to prioritize the RAMP 203 study, which includes treatment-naïve patients[146]. - The company expects to report updated data from the RAMP 205 study in the first quarter of 2025[147]. Market Opportunity - The total annual incident addressable market opportunity for the combination is estimated at approximately $300 million for KRAS mutant and $374 million for KRAS wild-type populations[140]. - The total prevalent addressable market opportunity is estimated at approximately $1.7 billion for KRAS mutant and $1.6 billion for KRAS wild-type populations[140]. Financial Performance - The company reported a net loss of $24.0 million for the three months ended September 30, 2024, compared to a net loss of $20.0 million for the same period in 2023, representing a 20% increase in losses[152]. - Total operating expenses for Q3 2024 were $37.0 million, a 74% increase from $21.3 million in Q3 2023[157]. - Total revenue for the nine months ended September 30, 2024, was $10.0 million, a 100% increase compared to $0.0 million for the same period in 2023[170]. - Research and development expenses increased by 77% to $24.8 million in Q3 2024 from $13.9 million in Q3 2023, driven by higher costs in contract research organizations, consulting, and investigator fees[157]. - Research and development expense for the 2024 Period was $60.5 million, representing a 56% increase from $38.9 million in the 2023 Period[171]. - Selling, general and administrative expense for the 2024 Period was $32.8 million, a 49% increase from $22.1 million in the 2023 Period[174]. - Interest income decreased to $3.2 million in the 2024 Period from $4.3 million in the 2023 Period, a decline of 27%[176]. - Interest expense increased to $3.4 million in the 2024 Period from $3.0 million in the 2023 Period, a rise of 13%[177]. - The change in fair value of preferred stock tranche liability resulted in $4.2 million income for the 2024 Period compared to $0.3 million expense in the 2023 Period[178]. - The change in fair value of warrant liability was $13.5 million for the 2024 Period, with no warrant liability outstanding during the 2023 Period[179]. Cash Flow and Financing - As of September 30, 2024, the company had $113.2 million in cash, cash equivalents, and investments[182]. - For the nine months ended September 30, 2024, the company reported a net cash used in operating activities of $79.7 million, compared to $56.8 million for the same period in 2023[184]. - Cash provided by investing activities for the 2024 Period was $60.0 million, primarily from maturities of investments[185]. - The company raised $53.8 million in net proceeds from the issuance of common stock and warrants in July 2024[186]. - The company has borrowed $40.0 million under the Loan Agreement, with interest rates subject to fluctuations based on market conditions[191]. - The cash outflow from net losses adjusted for non-cash charges was $78.7 million for the 2024 Period, compared to $55.8 million for the 2023 Period[184]. - The cash outflow due to changes in operating assets and liabilities for the 2024 Period was primarily driven by a decrease of $2.7 million in accounts payable[184]. - The company expects to finance a portion of its business through future potential milestones and royalties from the Secura APA[181]. Collaboration and Development - The company entered into a collaboration agreement with GenFleet for exclusive rights to develop oncology programs targeting RAS pathway-driven cancers, with a lead program VS-7375/GFH375 selected in December 2023[149]. - The Phase 1 study for VS-7375/GFH375 in China began in July 2024, evaluating safety and efficacy in patients with KRAS G12D mutations[150]. - The company anticipates filing an IND for VS-7375/GFH375 in the United States by the first quarter of 2025[150]. Going Concern - The company had an accumulated deficit of $891.0 million as of September 30, 2024, raising substantial doubt about its ability to continue as a going concern[152]. - The company is exposed to market risk related to changes in interest rates, with an immediate 100 basis point change not expected to materially affect the fair market value of its investment portfolio[189]. - The company has not reported any material changes in its contractual obligations and commitments since the last annual report[188].

Core Viewpoint - Verastem, Inc. is a clinical-stage biopharmaceutical company focused on developing cancer treatments targeting the RAS/MAPK pathway, with a promising combination therapy of Avutometinib and Defactinib for recurrent low-grade serous ovarian cancer (LGSOC) expected to receive FDA approval by 2H2024 [1][12][30] Company Overview - Founded in 2010 and headquartered in Needham, Massachusetts, Verastem develops oncology treatments using small-molecule inhibitors targeting specific cancer pathways, particularly the RAS/MAPK pathway [2] - The company’s leading therapy aims to suppress uncontrolled cancerous cell proliferation associated with mutations in the RAS/MAPK pathway, which are involved in several cancer types [2] Clinical Program - The combination of Avutometinib and Defactinib is currently in a rolling NDA submission process, with expectations for completion by 2H2024 [1][4] - The clinical pipeline includes multiple trials for various indications, including recurrent LGSOC, metastatic pancreatic cancer, and mKRAS G12C non-small cell lung cancer (NSCLC) [3][6][10] Pipeline and Collaborations - The RAMP 301 trial is focused on recurrent LGSOC, while RAMP 203 and RAMP 204 are collaborations with Amgen and Mirati Therapeutics, respectively, targeting mKRAS G12C NSCLC [7][10] - The company has received Fast Track Designation from the FDA for the combination therapy of Avutometinib and Sotorasib for mKRAS G12C NSCLC [9] Market Opportunity - The total addressable market for LGSOC is substantial, with an estimated annual opportunity of $570 million and a prevalent market potential of $1.7 billion for KRAS mutant patients [12][26] - The combination therapy has shown promising early results, with an overall response rate of 45% and 60% for KRAS-mutated patients, significantly higher than current treatment options [13][26] Financial Position - As of June 30, 2024, Verastem reported cash, cash equivalents, and investments totaling $144.5 million, providing a cash runway through the anticipated FDA approval decision by 1H2025 [21][22] - The company’s market cap is approximately $98.2 million, indicating it trades below its cash value, which may present a speculative investment opportunity [20][22] Conclusion - Verastem's combination therapy of Avutometinib and Defactinib is positioned as a potentially groundbreaking treatment for recurrent LGSOC, with a viable path to regulatory approval and significant market potential [30] - The company is viewed as a speculative buy, given its promising clinical data and financial resources to support ongoing development [29][30]

Clinical Development and Market Opportunity - The combination of avutometinib and defactinib has shown a confirmed objective response rate of 27% in all patients with recurrent LGSOC, with rates of 37% in KRAS mutant and 15% in KRAS wild-type patients [112]. - The total annual incident addressable market opportunity for the combination is estimated to be approximately $300 million for KRAS mutant and $270 million for KRAS wild-type populations [114]. - The total prevalent addressable market opportunity is estimated to be approximately $1.7 billion for KRAS mutant and $1.1 billion for KRAS wild-type populations [114]. - The estimated median duration of therapy for KRAS mutant patients is 14 months, while for KRAS wild-type patients it is 7 months [117]. - The FDA granted breakthrough designation for the combination of avutometinib and defactinib for the treatment of all patients with recurrent LGSOC [110]. - The RAMP 301 study has been initiated to evaluate the combination of avutometinib and defactinib against standard chemotherapy or hormonal therapy in recurrent LGSOC patients [119]. - The RAMP 203 study has shown a confirmed overall response rate of 25% in patients with KRAS G12C NSCLC [120]. - The company plans to seek accelerated approval from the FDA for the combination of avutometinib and defactinib for patients with recurrent KRAS mutant LGSOC [113]. - The combination of avutometinib and defactinib has received orphan drug designation for the treatment of LGSOC in the United States [110]. - The company received a Therapeutic Accelerator Award from PanCAN for up to $3.8 million to support a Phase 1b/2 clinical trial of avutometinib in combination with defactinib [122]. - The RAMP 205 trial reported a confirmed overall response rate (ORR) of 83% (5/6) for patients receiving the combination of avutometinib and defactinib with gemcitabine and Nab-paclitaxel [123]. - The Phase 1 study for GFH375/VS-7375 is being conducted in approximately 20 hospitals in China, evaluating safety and efficacy in patients with advanced KRAS G12D mutant solid tumors [125]. - The collaboration with GenFleet includes options for exclusive development rights for up to three oncology programs targeting RAS pathway-driven cancers [125]. Financial Performance - Total revenue for the three months ended June 30, 2024, was $10.0 million, a 100% increase compared to $0.0 million for the same period in 2023 [132]. - Research and development expenses increased by 40% to $18.1 million for the 2024 Quarter, up from $12.9 million in the 2023 Quarter [133]. - The net loss for the three months ended June 30, 2024, was $8.3 million, a 66% improvement compared to a net loss of $24.3 million for the same period in 2023 [132]. - The company had an accumulated deficit of $867.0 million as of June 30, 2024 [127]. - The company received net proceeds of approximately $51.1 million from the sale of 13,333,334 shares of common stock in July 2024 [128]. - Total revenue for the six months ended June 30, 2024, was $10.0 million, a 100% increase compared to $0.0 million for the same period in 2023 [143]. - Research and development expenses for the 2024 Period were $35.8 million, up from $24.9 million in the 2023 Period, representing a 44% increase [144]. - Selling, general and administrative expenses increased to $20.6 million in the 2024 Period from $14.7 million in the 2023 Period, a rise of 40% [147]. - Interest income for the 2024 Period was $2.4 million, compared to $2.1 million in the 2023 Period, marking a 12% increase [148]. - Interest expense rose to $2.3 million in the 2024 Period from $1.9 million in the 2023 Period, reflecting a 20% increase [149]. - The change in fair value of preferred stock tranche liability resulted in an income of $4.2 million for the 2024 Period, compared to an expense of $0.5 million in the 2023 Period [150]. - Cash outflow from operating activities was $55.9 million for the 2024 Period, compared to $40.2 million for the 2023 Period [154]. - As of June 30, 2024, the company had $83.4 million in cash, cash equivalents, and investments [152]. - The company received a $10.0 million milestone payment in July 2024 due to Secura achieving cumulative worldwide net sales of COPIKTRA exceeding $100.0 million [143]. - The fair value of the preferred stock tranche liability decreased from $4.2 million at the beginning of the 2024 Period to $0.0 million at the end of the 2024 Period [150]. - Net cash used in operating activities for six months ended June 30, 2024, was $(55,877) thousand, compared to $(40,190) thousand for the same period in 2023, indicating a decline in operational cash flow [157]. - Cash, cash equivalents, and investments totaled $83.4 million as of June 30, 2024, primarily consisting of interest-bearing assets [159]. - The company has borrowed $40.0 million under a Loan Agreement, with interest rates subject to fluctuations based on the one-month CME Secured Overnight Financing Rate plus a margin [161]. - The increase in cash, cash equivalents, and restricted cash for the six months ended June 30, 2024, was $4,536 thousand, a significant decrease from $108,537 thousand in the prior year [157]. - Financing activities resulted in cash inflow of $441 thousand for the six months ended June 30, 2024, a significant decrease from $135,531 thousand in the prior year, indicating reduced financing activities [157]. Risk Factors - The company anticipates continued operating losses due to ongoing research and development costs and lack of regulatory approval for product candidates [129]. - The company is exposed to interest rate risk, but a 100 basis point change in interest rates would not materially affect the fair market value of its investment portfolio due to its short-term duration [159]. - As of June 30, 2024, an immaterial amount of total liabilities were denominated in foreign currencies, indicating limited exposure to foreign currency fluctuations [160]. - The company’s available-for-sale securities are subject to interest rate risk, which could lead to a decline in value if market interest rates increase [159]. - A 10% increase in current interest rates would result in an immaterial increase in cash interest expense due to the overall interest rate floor and cap in the Loan Agreement [161].

Verastem Oncology (VSTM) announced that it has dosed the first patient in a phase I/II study evaluating its KRAS G12D inhibitor, GFH375/VS-7375, for treating KRAS G12D mutant solid tumors. Verastem's collaboration partner GenFleet Therapeutics is conducting the study in China. We note that after evaluating the initial dose escalation data from the above mentioned phase I study in China, VSTM plans to expedite the development path ahead for GFH375/VS-7375 in the United States. In May 2024, VSTM initiated the ...

LOS ANGELES, July 10, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Verastem, Inc. ("Verastem" or the "Company") (NASDAQ: VSTM) investors that the firm has initiated an investigation into possible securities fraud and may file a class action on behalf of investors. Verastem investors that lost money on their investment are encouraged to contact Lesley Portnoy, Esq. Please visit our website to review more information and submit your transaction information. Investors can contact the law firm at no co ...