Founded in 2010, the biopharmaceutical company, Verastem Inc. (VSTM) develops and commercializes drugs for cancer treatment. The shares of the $269.64 million market cap company have been climbing up during the regular and after-hours sessions on Monday.
During regular trading, VSTM stock added 4.05% at its closing price of $1.54. The stock continued the bullishness into the after-hours to gain a further 5.19%. Consequently, VSTM stock was trading at $1.62 per share in the after-hours on Monday.
Currently, the company has 182.19 million shares outstanding in the market.
VSTM stock Overview
During the previous week, VSTM stock had been in a continuous downtrend. The stock started the week at $1.79 and went down to $1.48 by the end of the week, on January 21. With no recent news, SEC filing, or upcoming events, the stock seems to be finally in a recovery mode. Monday brought good luck for the stock as it has now entered an uptrend and continued gaining in the after-hours as well. It seems like investors are taking benefit of the stock’s new 52-week low of $1.39.
A further overview of the stock shows a loss of 6.67% in the last five days and 24.88% year to date. Moreover, VSTM declined by 21.43% last year.
Key 2022 Strategic Priorities
On January 11, the company provided an outline of key strategic priorities for 2022. Along with that, VSTM also reported upcoming catalysts for supporting its lead compound in 2022.
Furthermore, the company’s lead compound is VS-6766 which is currently in late-stage development.
The key strategic priorities and anticipated milestones for 2022 include:
- Reporting of Part A results from RAMP 201 and 202 assessing VS-6766 (alone and in combination) in LGSOC (Low-Grade Serious Ovarian Cancer) and NSCLC (KRAS-mutant Non-Small Cell Lung Cancer), respectively.
- Preliminary data from Phase ½ trial of LUMAKRASTM and VS-6766 in KRAS G12C-mutant NSCLC.
- Initiation of Phase ½ trial of adagrasib and VS-6766 in KRAS G12C-mutant NSCLC.
- Expansion of investigator-initiated trial for exploring a potential combination with VS-6766 in additional tumor types along with data readouts.
VSTM’s Financials
On November 04, the company reported its quarterly financials for Q3 of 2021.
In the third quarter of 2021, the company had no revenues while it had $78.6 million in the year-ago quarter. The Q3 2020 revenue was primarily due to the sale of COPIKTRA along with license and collaboration revenue.
Moreover, VSTM had a non-GAAP adjusted net loss of $12.8 million in Q3 of 2021, against an adjusted net income of $18.8 million in Q3 of 2020.
