Press release
Verastem Oncology Announces Pricing of $90 Million Public Offering of Common Stock and Pre-Funded Warrants
BOSTON--(BUSINESS WIRE)-- Verastem Oncology (Nasdaq: VSTM), a biopharmaceutical company committed to advancing new medicines for patients with RAS/MAPK
About this update from Verastem, Inc.
[{"type":"text","content":" BOSTON--(BUSINESS WIRE)--\nVerastem Oncology (Nasdaq: VSTM), a biopharmaceutical company committed to advancing new medicines for patients with RAS/MAPK pathway-driven cancers, today announced the pricing of its previously announced underwritten public offering of 8,543,794 shares of its common stock at an offering price to the public of $7.25 per share, and in lieu of common stock to certain investors, pre-funded warrants to purchase up to an aggregate of 3,870,000 shares of its common stock at an offering price to the public of $7.2499 per pre-funded warrant, which represents the per share public offering price for the common stock less the $0.0001 per share exercise price for each such pre-funded warrant.\n\n\nThe gross proceeds from the offering, before deducting underwriting discounts and commissions and other estimated offering expenses payable by Verastem Oncology, are expected to be approximately $90 million. In addition, Verastem Oncology has granted the underwriters a 30-day option to purchase up to an additional 1,862,069 shares of its common stock on the same terms and conditions. The offering is expected to close on or about November 17, 2025 subject to satisfaction of customary closing conditions. All of the securities to be sold in the offering are to be sold by Verastem Oncology.\n\n\nJefferies, Guggenheim Securities and Cantor are acting as joint book-running managers for the offering. H.C. Wainwright & Co. is acting as lead manager for the offering.\n\n\nVerastem Oncology intends to use the net proceeds from the public offering to fund commercial activities for AVMAPKI™ FAKZYNJA™ CO-PACK that has been approved by the U.S. Food and Drug Administration to treat KRAS-mutated recurrent Low-Grade Serous Ovarian Cancer, continued clinical research and development of product candidates including the VS-7375 oral KRAS G12D (ON/OFF) inhibitor program, and for working capital and other general corporate purposes.\n\n\nA shelf registration statement on Form S-3 relating to the public offering of the securities described above was declared effective by the Securities and Exchange Commission (SEC) on November 20, 2023. The offering is being made by means of a written prospectus and prospectus supplement that form a part of the registration statement. Before you invest, you should read the preliminary prospectus supplement ...