Verastem announces offering of common stock, warrants

Verastem Oncology announced that it intends to offer and sell shares of its common stock and accompanying warrants to purchase shares of common stock, as well as pre-funded warrants to purchase common stock in lieu of common stock for certain investors and accompanying warrants to purchase shares of common stock, in an underwritten public offering. Verastem Oncology intends to use the net proceeds from the proposed public offering to fund the potential launch of avutometinib and defactinib in low-grade serous ovarian cancer, or LGSOC, continued clinical research and development of product candidates, and for working capital and other general corporate purposes, which may include capital expenditures, research and development expenditures, clinical trial expenditures, potential commercial launch expenditures, milestone payments under collaboration and in-license agreements, and possible acquisitions. Guggenheim Securities and Cantor are acting as joint book-running managers for the proposed offering.