Press release
Verastem Oncology Announces New Strategic Direction to Advance Its Clinical Development Programs
Transformative Initiative Expected to Accelerate Development of CH5126766 (VS-6766), a RAF/MEK Inhibitor, in Combination with Defactinib, a FAK Inhibitor,
About this update from Verastem, Inc.
[{"type":"text","content":"\nTransformative Initiative Expected to Accelerate Development of CH5126766 (VS-6766), a RAF/MEK Inhibitor, in Combination with Defactinib, a FAK Inhibitor, for the Treatment of KRAS Mutant Solid Tumors\n\n\nCompany Continues to Advance Development of Duvelisib for the Treatment of Relapsed/Refractory PTCL \n\n\nStrengthened Balance Sheet Through Private Placement Resulting in Anticipated Gross Proceeds of $100 Million; Projected Cash Runway into 4Q 2021\n\n\nNew Strategic Direction Expected to Result in an Approximately 40% Reduction in Operating Expenses for 2020 Compared to 2019\n\n\nManagement to Host Conference Call Tomorrow at 8:00 AM ET \n\n BOSTON--(BUSINESS WIRE)--\nVerastem, Inc. (Nasdaq:VSTM) (also known as Verastem Oncology), a biopharmaceutical company committed to developing and commercializing new medicines for patients battling cancer, today announced a new strategic direction to accelerate the advancement of certain of its clinical development programs. The Company’s primary focus will be on the development of CH5126766 (VS-6766), its RAF/MEK inhibitor, in combination with defactinib, its focal adhesion kinase (FAK) inhibitor, for the treatment of KRAS mutant solid tumors. Verastem Oncology will also continue to advance the development of duvelisib (COPIKTRA®) for the treatment of relapsed or refractory peripheral T-cell lymphoma (PTCL). \n\n\n“With our newly expanded development pipeline and strengthened balance sheet, we believe this new strategic direction will be transformative for Verastem Oncology as we will have the opportunity to rapidly advance the development of the clinical programs that we believe will yield the greatest results for patients, physicians and shareholders,” said Brian Stuglik, Chief Executive Officer of Verastem Oncology. “We are honored to have leading life science investors participate in our recently announced private placement. Verastem Oncology’s mission is centered on improving the lives of cancer patients and we believe our work in collaboration with the scientific community has presented significant opportunity to make further meaningful strides in areas of critical need.”\n\n\nAccelerating Development of CH5126766 (VS-6766) and Defactinib Combination\n\n\nIn early 2020, Verastem Oncology licensed exclusive global development and commercialization rights to CH5126766 (VS-6766),...