Key Developments: Verastem Inc (VSTM.OQ)

VSTM.OQ on NASDAQ Stock Exchange Global Market

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9 Jul 2014
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Latest Key Developments (Source: Significant Developments)

Verastem Inc acquires rights to cancer stem cell inhibitor VS-4718
Tuesday, 25 Feb 2014 07:00am EST 

Verastem Inc:Acquired the license to VS-4718 held originally by Poniard Pharmaceuticals.Previous and future developmental, regulatory and commercial royalty milestones and payments associated with the development and potential future sales of VS-4718 due to Poniard Pharmaceuticals are now owned by Verastem.Retains a license to VS-4718 from The Scripps Research Institute.  Full Article

Verastem Inc Issued Japanese Patent on Dual mTORC1/2 and PI3K Inhibitor VS-5584
Tuesday, 4 Feb 2014 07:00am EST 

Verastem Inc:Says it has been issued a patent by the Japanese Patent Office (JPO) for the company's small molecule dual inhibitor of mTORC1/2 and PI3K VS-5584.Says the granted patent is titled "Pyrimidine Substituted Purine Compounds As Kinase(s) Inhibitors.Says in addition to the patent issuance for VS-5584, Verastem is also pursuing development of lead focal adhesion kinase (FAK) inhibitor in Japan.  Full Article

Verastem Inc initiates clinical trial of dual mTOR/PI3K inhibitor
Tuesday, 10 Dec 2013 07:00am EST 

Verastem Inc:Says the initiation of a Phase 1 trial of VS-5584, a dual mTORC1/2 and PI3K inhibitor, in patients with advanced solid tumors or lymphoma.Says the phase one open-label, dose escalation and schedule finding study is designed to assess the safety, pharmacokinetics, pharmacodynamics and initial clinical activity of single agent VS-5584. VS-5584 is an orally-available compound.Says the study will enroll up to 62 patients.Says VS-5584 is an oral compound that potently and selectively inhibits the class 1 PI3K isoforms, mTORC1 and mTORC2. In preclinical studies, VS-5584 has been shown to reduce the percentage of cancer stem cells and induce tumor regression in multiple tumor models.  Full Article

Verastem Inc Initiates COMMAND
Tuesday, 10 Sep 2013 07:00am EDT 

Verastem Inc announced the initiation of COMMAND (Control Of Mesothelioma with MAiNtenance Defactinib). COMMAND is a registration-directed trial of lead cancer stem cell inhibitor defactinib (VS-6063) in patients with malignant pleural mesothelioma, a aggressive form of lung cancer with a high percentage of cancer stem cells. COMMAND is a registration-directed, double-blind, placebo-controlled trial with Progression Free Survival (PFS) and Overall Survival (OS) as the primary endpoints. The study incorporates the opportunity to enrich for patients with tumors low in the biomarker, merlin. Preclinical and early clinical research has demonstrated that low merlin levels are predictive of increased effectiveness of FAK inhibitors such as defactinib. The COMMAND study will stratify patients to evaluate the effect of defactinib in both the overall patient population and the subgroup that are merlin low.  Full Article

Verastem Inc Issued U.S. Patent Covering VS-4718 Composition of Matter
Thursday, 15 Aug 2013 07:00am EDT 

Verastem, Inc. announced that the U.S. Patent and Trademark Office issued U.S. Patent No. 8,501,763 claiming composition of matter for VS-4718, the Company's novel, small molecule inhibitor of cancer stem cells through blockade of focal adhesion kinase (FAK). The U.S. patent grants coverage of VS-4718 into 2029. Corresponding patent applications are pending in markets throughout the world including Europe, Japan, Australia and Canada.  Full Article

Verastem Inc Receives Orphan Drug Designation from U.S. FDA For Defactinib In Mesothelioma
Wednesday, 24 Jul 2013 07:00am EDT 

Verastem, Inc. announced that lead cancer stem cell inhibitor, VS-6063 (defactinib), has received orphan drug designation from the U.S. Food and Drug Administration (FDA) for use in the treatment of mesothelioma, a rare form of lung cancer. The designation is designed to encourage the development of drugs which may provide benefit to patients suffering from rare diseases.  Full Article

Verastem Inc Announces Closing Of Public Offering And Exercise Of Option To Purchase Additional Shares
Monday, 22 Jul 2013 04:00pm EDT 

Verastem Inc announced that the closing of a $63.8 million underwritten public offering of 4,255,000 shares of common stock, including 555,000 shares of common stock which were issued pursuant to the exercise of the underwriters' option to purchase additional shares, at a price of $15.00 per share to the public. The net proceeds to Verastem from this offering were approximately $59.8 million, after deducting underwriting discounts and commissions and other estimated offering expenses payable by Verastem. Jefferies LLC and Leerink Swann LLC acted as joint book-running managers in the offering, and JMP Securities LLC, Oppenheimer & Co. Inc., Lazard Capital Markets LLC, Guggenheim Securities, Roth Capital Partners, LLC and Cantor Fitzgerald & Co. acted as co-managers in the offering.  Full Article

Verastem Inc Announces Pricing Of Public Offering Of Common Stock
Wednesday, 17 Jul 2013 09:24am EDT 

Verastem, Inc. announced the pricing of its previously announced underwritten public offering of 3,700,000 shares of its common stock, offered at a price of $15.00 per share to the public. The net proceeds to Verastem from this offering are expected to be approximately $51.9 million, after deducting underwriting discounts and commissions and other estimated offering expenses payable by Verastem. All of the shares sold in the offering will be sold by Verastem. The offering is expected to close on or about July 22, 2013, subject to the satisfaction of customary closing conditions. Verastem has granted to the underwriters a 30-day option to purchase up to 555,000 additional shares of common stock. Verastem anticipates using the net proceeds from the offering for preclinical and clinical development of its lead product candidates, discovery, research and preclinical studies of its other product candidates, additional compounds and companion diagnostics, and other general corporate purposes. Jefferies LLC and Leerink Swann LLC are acting as joint book-running managers in the offering, and JMP Securities LLC, Oppenheimer & Co. Inc., Lazard Capital Markets LLC, Guggenheim Securities, Roth Capital Partners, LLC and Cantor Fitzgerald & Co. are acting as co-managers in the offering.  Full Article

Verastem Inc Announces Proposed Public Offering Of Common Stock
Tuesday, 16 Jul 2013 04:08pm EDT 

Verastem Inc announced that it intends to offer and sell shares of its common stock in an underwritten public offering. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. All of the shares to be sold in the offering are to be sold by Verastem. Jefferies LLC and Leerink Swann LLC are acting as joint book-running managers in the offering.  Full Article

Verastem Inc Announces Senior Management Changes
Thursday, 6 Jun 2013 07:00am EDT 

Verastem Inc announced that Robert Forrester, President and Chief Operating Officer, will be named President, Chief Executive Officer and a Director, and that Christoph Westphal, M.D., Ph.D., Chairman and Chief Executive Officer, will be transitioning to Executive Chairman. These changes will be effective on July 1, 2013.  Full Article

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