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Verastem reports Q4 EPS (8c), consensus (10c)
The Fly

Verastem reports Q4 EPS (8c), consensus (10c)

Verastem Oncology ended the fourth quarter of 2022 with cash, cash equivalents and investments of $87.9M. "Building on our breakthrough therapy designation, we have made significant progress advancing our LGSOC program, including selecting the combination of avutometinib and defactinib as the go-forward treatment regimen in recurrent disease regardless of KRAS mutation with the goal of filing for accelerated approval upon data maturity in the RAMP 201 trial and initiation of a confirmatory study," said Brian Stuglik, CEO. "We believe we are well-positioned to bring this potential new combination therapy to patients who have been waiting for the first U.S. Food and Drug Administration (FDA) approved medicine for this disease. Our debt facility and recent private placement offering add flexibility to our financial strength and are expected to support the continued development of avutometinib in combinations across RAS pathway-driven cancers of high unmet need."

Published first on TheFly

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