EarningsQ2 2026 Earnings Report
DE:2VSA Q2 2026 EPS Results
Actual EPS-€0.31
Consensus EPS-€0.38
Beat/MissBeat by +€0.07
One Year Ago EPS-€0.35
DE:2VSA Q2 2026 Revenue Results
Actual Revenue€35.70M
Expected Revenue€20.38M
Beat/MissBeat by +€15.32M
YoY Revenue Growth+1775.43%
Earnings Announcement Details
QuarterQ2 2026
Date08/06/2026
TimeAfter Close
Conference CallThursday, August 6, 2026
DE:2VSA Upcoming Earnings
Verastem's next earnings date is estimated for November 11, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
DE:2VSA Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed substantial positive momentum: commercial rebound with $25.1M in product revenue, strengthened liquidity via a $50M draw and $15M milestone (pro forma cash $201.4M), improved non-GAAP loss versus prior year, and rapid clinical progress for VS-7375 (enrollment completed in expansions, Fast Track for NSCLC, three Phase II studies initiated and an October data update anticipated). Notable risks remain — the company is still loss-making with high R&D spend, relies on financing to bridge to readouts, has limited prescription visibility, faces tolerability and dose-management operational challenges, and navigates a competitive/regulatory landscape. On balance, the material commercial and clinical achievements and improved financial cushion outweigh the outstanding challenges.Company Guidance
Net Product Revenue
Generated $25.1 million in net product revenue in Q2 2026, reflecting a meaningful quarter-over-quarter rebound in commercial performance for the AVMAPKI FAKZYNJA CO-PACK.
Non-Dilutive Funding and Milestone
Secured a non-dilutive royalty financing agreement with Oberland Capital for up to $75 million (expecting to draw $50 million at closing) and received a $15 million sales-based milestone from Secura Bio, yielding incremental funding of $90 million to strengthen the balance sheet and preserve strategic flexibility.
Pro Forma Cash Position and Runway
Ended Q2 with $136.4 million in cash and investments; pro forma cash including the $50M draw and $15M milestone is $201.4 million (an increase of $65.0M, ~47.7%), and management believes this supports operations into the second half of 2027 and to key value-creating inflection points.
Improved Non-GAAP Loss and EPS
Non-GAAP adjusted net loss narrowed to $30.6 million ($0.31 per share diluted) in Q2 2026 from $41.3 million ($0.62 per share diluted) in Q2 2025 — a reduction in adjusted net loss of $10.7M (approximately 25.9%) and a 50% improvement in adjusted loss per share.
Commercial Traction and Adoption
Commercial priorities showing progress: consistent new patient starts, increased refills, broader adoption across academic and community practices, deeper physician experience, and a shift toward earlier-line use — all contributing to stronger adoption momentum for the CO-PACK.
LGSOC Franchise Self-Sustaining Outlook
Company reiterates expectation that the LGSOC business will be self-sustaining by the end of 2026, with CO-PACK revenues supporting both commercial operations and ongoing development of avutometinib plus defactinib.
VS-7375 Clinical Program Advancement
VS-7375 program advanced rapidly: completed target enrollment in the pancreatic, colorectal, and NSCLC dose expansion cohorts of TARGET-D 101; received FDA Fast Track designation for NSCLC; initiated three Phase II registration-directed studies with first patients dosed; management expects a meaningful data update in October (response rates across ~20 patients per indication and an early look at durability).
Early Clinical Signals and Tolerability
Encouraging early clinical activity and tolerability for VS-7375 highlighted by an anecdotal patient case with >65% tumor shrinkage within six weeks; reported tolerability profile primarily GI-related (nausea/vomiting/diarrhea) with no rash or mucositis and PK that increases with dose, supporting ability to escalate exposure.
License Revenue Recognition
Recorded $15.0 million in license revenue in Q2 2026 from a Secura Bio sales milestone (COPIKTRA cumulative worldwide net sales surpassing $200M), providing a non-operational revenue boost.
Controlled SG&A Outlook
SG&A was $27.4 million in Q2 2026 and is expected to remain roughly flat on a quarterly basis through 2026, indicating disciplined expense management while supporting the commercial launch.
DE:2VSA Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed