Verastem Oncology falls on planned stock offering
13/11/2025 21:29
** Verastem's VSTM.O shares down 6.2% in extended trading to $7.61 after equity offering news
** Needham, Massachusetts-based VSTM announces stock offering without disclosing deal size
** It intends to use net offering proceeds to fund commercial activities for its U.S. FDA approved ovarian cancer therapy, branded as Avmapki Fakzynja Co-pack, continued R&D of other product candidates, among other purposes
** Jefferies, Guggenheim and Cantor Fitzgerald are joint bookrunners
** VSTM has ~66.8 mln shares outstanding for about $542 mln market cap
** Shares on Thurs finished down 4.7% at $8.11, trimming YTD gain to 57%
** All 9 analysts covering VSTM are bullish and their median PT is $15.50, per LSEG data
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))