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DISCLAIMER
The information contained in this report is based on sources believed to be correct but Clarivate Analytics
does not guarantee the accuracy, timeliness, or completeness of this information. Opinions, if any, are those
held by the author of any individual report or article at the time of initial publication and do not necessarily
reflect the views of Clarivate.
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recommendation to buy or sell any particular security or other investment and does not constitute an offer to
buy from or sell to any particular investor. Any company or securities mentioned in this report may not be
suitable for any particular investor, depending on that investor's financial position and needs.
Key Indications
Displays top ten key indications for the company and its subsidiaries based on frequency (indications
occurring with high and identical frequency are always included, and this may result in more than ten Key
Indications being listed). Includes both indications associated with patents where the company is patent
owner and indications associated with drugs in active development. A drug is classified as 'active' if it
features on a row (or rows) in the current development status table where the status is one of the following:
Discovery, Clinical, Phase I, Phase II, Phase III, Pre-registration, Registered, Launched, or Suspended.
Key Target-based Actions
Displays top ten key target-based actions for the company and its subsidiaries based on frequency (actions
occurring with high and identical frequency are always included, and this may result in more than ten Key
Target-based Actions being listed). Includes both target-based actions associated with patents where the
company patent owner and target-based actions associated with drugs in active development. A drug is
classified as 'active' if it features on a row (or rows) in the current development status table where the status
is one of the following: Discovery, Clinical, Phase I, Phase II, Phase III, Pre-registration, Registered,
Launched, or Suspended. A target-based action is one that is associated with a target.
Key Technologies
Displays top ten key technologies for the company and its subsidiaries based on frequency (technologies
occurring with high and identical frequency are always included, and this may result in more than ten Key
Technologies being listed). Includes both key technologies associated with patents where the company
relationship is patent owner and key technologies associated with drugs in active development. A drug is
classified as 'active' if it features on a row (or rows) in the current development status table where the status
is one of the following: Discovery, Clinical, Phase I, Phase II, Phase III, Pre-registration, Registered,
Launched, or Suspended.
Company Overview........................................................................................................................... 7
Company Profile................................................................................................................................ 7
Company Financials.......................................................................................................................... 8
Product Portfolio Summary............................................................................................................... 13
Product Portfolio Financials.............................................................................................................. 18
Product Portfolio Drugs..................................................................................................................... 19
Website http://www.verastem.com/
Country US
Number of Drugs in Active
Development 5
Number of Deals 17
Cancer,Non-small-cell lung cancer,Mesothelioma,Ovary tumor,Pancreas
Key Indications tumor,Follicle center lymphoma,Chronic lymphocytic leukemia,Non-Hodgkin
lymphoma,Peripheral T-cell lymphoma,Solid tumor,T-cell lymphoma
Wnt ligand inhibitor,Focal adhesion kinase inhibitor,Beta-catenin
inhibitor,mTOR inhibitor,Phosphoinositide 3-kinase inhibitor,ATP dependent
Key Target-based Actions
RNA helicase DDX43 inhibitor,MEK protein kinase inhibitor,Phosphoinositide-3
kinase alpha inhibitor,Wnt ligand modulator,mTOR complex 1 inhibitor
Small molecule therapeutic,Natural product,Hybridization technology,Drug
combination,Immunodetection,PCR based technology,Antibody,DNA
Key Technologies hybridization,Formulation preservation,Isolation technology,Monoclonal
antibody,Oral absorption enhancer,Oral formulation,Oral quick release
formulation,RNA sequencing technology,Tablet formulation
COMPANY PROFILE
SUMMARY
Verastem Oncology (previously known as Verastem Inc) is a biopharmaceutical company focused on discovering and
developing drugs targeting cancer stem cells.
In October 2015, Verastem announced a reduction of its workforce by approximately 50% to 20 full time employees.
In May 2018, the company changed its name to "Verastem Oncology" to reinforce its commitment to developing and
commercializing treatment options for patients battling cancer.
FINANCIAL
In June 2018, Verastem was admittted to the broad-market Russell 3000 Index, at the conclusion of the Russell US
Indexes annual reconstitution.
In June 2018, the company registered sale to funds managed by Consonance Capital of 7,166,666 shares of the
company's common stock at a price of $6.00 per share. The gross proceeds to from the offering were expected to be
approximately $43.0 million. The offering was subject to customary closing conditions and was expected to close on
June 18, 2018.
In May 2018, the company commenced a registered underwritten public offering of $35 million of shares of common
stock and had granted the underwriter a 30-day option to purchase up to an additional $5.25 million shares of common
stock. Later that month, the company priced the offering of 7,777,778 shares of its common stock at a public price of
$4.50 per share. The Underwriters were granted a 30-day option to purchase up to an additional 1,166,666 shares of its
common stock. The gross proceeds from the offering were expected to be $35 million. The offering was expected to
close on or about May 18, 2018; again later that month, the company announced closing of underwriters option to
purchase additional shares and the raised aggregate gross proceeds from the offering, including the full exercise of the
underwriters option were expected to be $40.2 million. In May 2018, the net proceeds from the offering were $38.3
million.
In March 2017, the company secured a $25 million Loan and Security Agreement with Hercules Capital and received the
first $2.5 million of financing. At that time, additional tranches of up to $22.5 million in aggregate was to be given on
fulfillment of certain conditions. As of March 31 2017, the company had 36,992,418 outstanding common shares. In
January 2018, Verastem increased the borrowing limit under the loan facility from $25 million to $50 million.
In January 2015, the company expected to offer and sell $40 million of its common stock in an underwritten public
offering. At that time, there was no assurance on the completion of the offering. Later that month, the company planned
to raise net proceeds of $44.1 million from the offering of 7.25 million shares, priced at $6.50 per share. The underwriters
were granted a 30-day option to purchase up to 1,087,500 additional shares of common stock. At that time, the offering
was expected to close on or about January 28, 2015. Later in January 2015, the offering of 8,337,500 shares was
closed, and the company raised gross proceeds of $54.2 million.
In July 2013, Verastem announced a public offering of 3.7 million shares of common stock, at a price of $15.00 per
share; net proceeds of $51.9 million were expected. Underwriters were to be granted a 30-day option to purchase an
addition 555,000 shares. Later that month, Verastem closed the $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, priced at $15.00 per share. The net proceeds were approximately
$59.8 million.
By December 2012, Verastem had raised $63.5 million gross proceeds in an initial public offering.
In November 2012, Verastem planned a pre-arranged personal stock purchasing plan to acquire its common stock
shares. At that time, the transaction was expected to commence on December 21, 2012.
In March 2012, the company was added to the Russell 2000 index.
In November 2011, Verastem filed a registration statement for the proposed IPO of its common stock. In January 2012,
the Securities and Exchange Commission declared the registration effective, and the company priced the IPO of 5.5
million shares at $10.00 per share, with underwriters granted a 30-day option to purchase an additional 825,000 shares
of common stock to cover overallotments. The shares were to begin trading on the NASDAQ global market on January
27, 2012 under the symbol "VSTM"; in February 2012, underwriters fully exercised their over-allotment option for the
purchase of additional common stocks shares. Net proceeds from the IPO were approximately $56.7 million. In
December 2013, NASDAQ reported that, Verastem would be added to the NASDAQ Biotechnology Index, under the
trading symbol 'VSTM', as a result of the annual re-ranking, which would become effective prior to market open on
December 23, 2013; later that month, Verastem was added to NASDAQ Biotechnology Index and would be active from
December 23, 2013.
COMPANY FINANCIALS
SHARE INFORMATION
Change (USD)
Volume 0
Date
Exchange
Current Market
690,180,400
Capitalization
STOCK PERFORMANCE
MAJOR SHAREHOLDERS
Venture Netherla
Life Sciences Partners 873,201 1.19 0 0 31-Jul-2018
Capital nds
Invesco DWA
Mutual United
Healthcare Momentum 422,222 0.57 422,222 1 31-Jul-2018
Fund States
ETF
PowerShares DWA
Mutual United
SmallCap Momentum 187,264 0.25 187,264 1 31-Jul-2018
Fund States
Portfolio
Mutual United
iShares Micro-Cap ETF 139,403 0.19 4,080 0.03 31-Jul-2018
Fund States
Columbia Active
Portfolios Multi Mutual United
110,661 0.15 -55,868 -0.34 31-Jul-2018
Manager Small Cap Fund States
Equity Fu
SEI Institutional
Mutual United
Managed - Small Cap 106,000 0.14 0 0 31-Jul-2018
Fund States
Fund
Vanguard Institutional
Mutual United
Total Stock Market 94,508 0.13 0 0 31-Jul-2018
Fund States
Index Fund
Investme
Wellington nt
United
Management Advisor/ 81,600 0.11 81,600 1 31-Jul-2018
States
Company, LLP Hedge
Fund
Sales (USD M) 0 0 0 0 0
BALANCE SHEET
Assets (USD M)
Inventories - Total 0 0 0 0 0
Minority Interest 0 0 0 0 0
Preferred Stock 0 0 0 0 0
Treasury Stock 0 0 0 0 0
FORECASTS
EPS Forecast
Other Forecasts
Neoplasm 5 3 8
Respiratory disease 3 0 3
Rare disease 3 0 3
Hematological disease 1 0 1
Immune disorder 1 0 1
Gastrointestinal disease 1 0 1
Endocrine disease 1 0 1
Genitourinary disease 1 0 1
Pre-registration 1
Phase 2 Clinical 1
Phase 1 Clinical 2
Discovery 1
No Development Reported 3
DEALS
Drug - Screening/Evaluation 1 0 1 0 2
Drug - Discovery/Design 0 0 1 0 1
Drug - Funding 1 0 0 0 1
CLINICAL TRIALS
Neoplasm 12 32
Hematological disease 8 17
Immune disorder 4 14
Rare disease 4 10
Respiratory disease 2 7
Endocrine disease 2 5
Genitourinary disease 2 5
Inflammatory disease 0 2
Andrology 0 1
Musculoskeletal disease 0 1
Trials by Phase
Phase 3 2 4
Phase 2 5 12
Phase 1 5 24
Phase Definitions
Phase 3 Clinical
Includes Phase 3, Phase 3b, Phase 3a, Phase 2/3 (where enrolment count is 300 or over)
Phase 2 Clinical
Includes Phase 2, Phase 2a, Phase 2b, Phase 1/2 (where enrolment count is 100 or over), Phase 2/3 (where enrolment count is
under 300 or not specified)
Phase 1 Clinical
Includes Phase 1, Phase 1a, Phase 1, Phase 1/2 (where enrolment count is under 100 or not specified), Phase 0
PATENTS *
Immune disorder 7 0 7
Musculoskeletal disease 4 0 4
Neoplasm 15 1 16
Ocular disease 2 0 2
Inflammatory disease 6 0 6
Metabolic disorder 3 0 3
Neurological disease 5 0 5
Nutritional disorder 1 0 1
Respiratory disease 6 0 6
Infectious disease 3 0 3
Endocrine disease 10 1 11
Gastrointestinal disease 7 0 7
Genitourinary disease 5 0 5
Hematological disease 9 0 9
Andrology 3 0 3
Dermatological disease 7 0 7
Otorhinolaryngological disease 1 0 1
Rare disease 7 0 7
* This table represents a summary of the core patent coverage for this company covering Therapeutic EP, US and WO patents since
1990 only.
PLEASE NOTE: Highest status refers to highest development of that drug for one of the active companies
duvelisib
defactinib
Target-based Actions Focal adhesion kinase inhibitor, Focal adhesion kinase-2 inhibitor
Key Synonyms
VS-4718
Key Synonyms
Key Synonyms
Inactive Companies