Verastem Oncology rises after $75 million private placement

Verastem

25/04/2025 15:00

** Verastem Oncology's VSTM.O shares rise 4.8% to $7.86 in early trading

** Cancer drug developer announces $75 million private placement led by investment firm RTW

** Firm has agreed with investors for placement of $24 million of shares and $51 million of pre-funded warrants

** Guggenheim Securities was the lead agent for the private placement

** Proceeds will be used to fund the potential launch of its experimental cancer therapy avutometinib and other purposes

** As of last close, VSTM stock up 45% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))