Verastem Oncology: Rises on licensing agreement with Chugai Pharma
08/01/2020 14:37
** Drug developer's VSTM.O shares rise ~11% to $1.40
premarket, after it signs licensing agreement with Chugai
Pharmaceutical
** Under the agreement VSTM will get worldwide
commercialization and development right for Chugai's treatment
for KRAS mutant solid tumors urn:newsml:reuters.com:*:nBw6nDP2wa
** KRAS mutations can cause normal cells to become cancer
cells
** Company to make an upfront payment of $3 mln and pay
royalties to Chugai
** VSTM has lost ~60% in 2019
(Reporting by Gautami Khandke)
((Gautami.Khandke@thomsonreuters.com;))
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