Verastem data ‘best-in-class’ despite slight decline, says RBC Capital

RBC Capital keeps an Outperform rating on Verastem (VSTM) with a $13 price target after the company’s partner GenFleet Therapeutics reported Phase I/II data for VS-7375 outside of China in advanced pancreatic ductal adenocarcinoma patients with a KRAS G12D mutation. The data show meaningful efficacy in a highly refractory patient population, the analyst tells investors in a research note. The firm says that while VS-7375’s response rate of 41% “look best-in-class,” they did did decrease somewhat from the prior readout. They data overall are “still impressive,” contends RBC. Verastem shares in midday trading are down 13% to $8.01.