Key Developments: Verastem Inc (VSTM.W)
9.94USD
24 Apr 2013
$1.12 (+12.70%)
$8.82
$9.94
$9.94
$9.94
200
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$11.88
$6.33
Latest Key Developments (Source: Significant Developments)
Verastem Inc Announces Appointment Of CFO
Verastem Inc announced the appointment of John Jack Green as Chief Financial Officer (CFO). Full Article
Verastem Inc Announces President Change-Form 8-K
Verastem Inc reported in its Form 8-K that on January 18, 2013, Verastem, Inc. (Company) appointed Robert Forrester as President of the Company. Mr. Forrester will continue to serve as Chief Operating Officer of the Company. Christoph Westphal, M.D., Ph.D. previously served as President and will remain Chief Executive Officer (CEO) of the Company. Full Article
Verastem Inc Enters Research Collaboration With Eisai For Small Molecule Wnt Inhibitors
Verastem Inc announced a research collaboration with Eisai for the of small molecule Wnt inhibitors. VS-507 is a formulation of salinomycin and will be the starting point for the development of analogs in the collaboration with Eisai. The resulting compounds will be tested in Verastem’s Wnt signaling and cancer stem cell assays to evaluate their selective activity. Verastem will own the analogs that are generated in the 12-month collaboration. Eisai will be eligible to receive royalties on commercial sales of identified products. During the term of the agreement, Eisai has a right of first negotiation for products that are created through the collaboration. Full Article
Verastem Inc Announces Exercise Over-Allotment Option for Initial Public Offering By Underwriters
Verastem Inc announced that the underwriters of its initial public offering have exercised in full their over-allotment option for the purchase of an additional 825,000 shares of common stock at the initial public offering price of $10.00 per share, less underwriting discounts and commissions. UBS Investment Bank and Leerink Swann LLC acted as joint book-running managers for the offering. Lazard Capital Markets LLC, Oppenheimer & Co. Inc. and Rodman & Renshaw, LLC acted as co-managers for the offering. Full Article
Verastem Inc Prices IPO Of Common Stock For $55 Million-GlobalData Financial Deals Tracker
GlobalData Financial Deals Tracker reported that Verastem Inc, priced Initial Public Offering (IPO) of shares of its common stock, to raise gross proceeds of $55 million. The Company will issue 5.5 million shares of common stock at a price of $10 per share. Verastem also granted the underwriters a 30-day option to purchase up to an additional 825,000 shares of common stock, to cover any over-allotments. UBS Securities LLC and Leerink Swann LLC are acting as joint book-running managers; Lazard Capital Markets, LLC, Oppenheimer & Co. Inc. and Rodman & Renshaw, LLC are acting as co-managers; while Wilmer Cutler Pickering Hale and Dorr LLP is acting as legal advisor to Verastem for the offering. The shares of the Company will be listed on the Nasdaq Global Market on January 27, 2012, under the symbol 'VSTM'. The Company intends to use the net proceeds to complete preclinical and Phase I clinical development of VS-507; for preclinical studies of other product candidates and companion diagnostics; for discovery, research and preclinical studies of additional compounds; and to fund working capital, capital expenditures and other general corporate purposes, including the acquisition or in-license of additional compounds, product candidates or technology. It may also invest the net proceeds in short-term, interest-bearing, investment-grade, interest bearing instruments and US government securities. Full Article
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