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ASCO 2024: Verastem’s combo therapy for pancreatic cancer hits early trial success

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Verastem Oncology reported positive initial results from an ongoing Phase I/II trial investigating kinase inhibitor avutometinib for the treatment of pancreatic cancer.

The US biopharma company announced the initial interim safety and efficacy results as it gears up for a presentation at the upcoming American Society of Clinical Oncology (ASCO) Annual Meeting on 1 June 2024.

Source
Clinical Trials Arena

More data, more dollars: Three biotechs post offerings after trial readouts

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The pattern goes as follows: roll out the data first, and then go to investors and ask for more money.

Three biotechs played right into that strategy on Tuesday.

The first was Jasper Therapeutics, which kicked things off Tuesday afternoon by announcing it plans on selling shares via a public offering. Jasper elaborated Wednesday morning, disclosing it would sell 60 million shares of stock at $1.50 each, for around $90 million. The stock $JSPR ticked up more than 10% after the opening bell.

Source
Endpoints

Verastem takes on debt to get RAS tumor program to finish line

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Down to its last $100 million, Verastem Oncology has taken on debt to try to get its lead program over the finish line. The deal sees Verastem tap Oxford Finance for a $150 million credit facility to fund trials in ovarian cancer and non-small cell lung cancer (NSCLC) and extend its cash runway through to 2025. 

Source
Fierce Biotech

ESMO 2021 movers – a handful of biotech winners emerge

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Leap and Innate were clear winners on the stock market during the medical meeting, while Astrazeneca’s strong performance stands out among the large caps.

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EP Vantage

The duvelisib hot potato is tossed to a new owner as Verastem looks to reorganize around the pipeline

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When Infinity put up duvelisib for a no-money-down instant deal, the biotech was looking for a quick exit from a clinical disaster. AbbVie had walked away from their alliance after looking at how the data stacked up in a crowded field.

Source
Endpoints

Verastem Oncology announces preliminary data from investigator-initiated study highlighting clinical activity of RAF/MEK and FAK combination in KRAS mutant tumors

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Verastem announced results from the ongoing investigator-initiated Phase 1 clinical study investigating VS-6766, its RAF/MEK inhibitor, in combination with defactinib, its FAK inhibitor, in patients with KRAS mutant advanced solid tumors.

Source
Pharmaceutical Business Review

Verastem Oncology Sees Strategic Realignment To Reduce Its Operating Expenses By About 40% For 2020

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Verastem Oncology announces strategic realignment to reduce its operating expenses, including reduction of the saleforce and non-core clinical research.

Source
Reuters

Unwanted by AbbVie and Infinity, battered Verastem gets an OK for duvelisib and a second shot at success

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Verastem $VSTM is getting its proverbial second chance.

Once battered, bruised and left on the ropes after the complete failure of the initial strategy mapped by Christoph Westphal, the executive team at Verastem snapped up a tarnished star as Infinity happily handed off its perfectly approvable — but commercially unexciting — PI3K drug duvelisib for exactly nothing up front.

Source
Endpoints