Press release
Verastem Oncology Reports Second Quarter 2020 Financial Results and Highlights Recent Company Progress
Announced Path Forward for VS-6766 and Defactinib Combination Following Meeting with FDA Phase 2 Registration-Directed Trials Expected to Commence by Year
About this update from Verastem, Inc.
[{"type":"text","content":"\nAnnounced Path Forward for VS-6766 and Defactinib Combination Following Meeting with FDA\n\n\nPhase 2 Registration-Directed Trials Expected to Commence by Year End 2020 in Both Low-Grade Serous Ovarian Cancer and KRAS Mutant Non-Small Cell Lung Cancer\n\n\nCompany Monetizes COPIKTRA® (duvelisib) Providing Cash Runway Until at Least 2024\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 reported financial results for the three months ending June 30, 2020, and provided an overview of recent corporate highlights.\n\n\n“The first half of 2020 has been a time of transformational change at Verastem Oncology. We recently announced our newest strategic transaction, the sale of COPIKTRA to Secura Bio, which allows us to monetize this asset while focusing our resources and efforts on advancing the VS-6766 and defactinib combination program in KRAS mutant solid tumors,” commented Brian Stuglik, Chief Executive Officer of Verastem Oncology. “We are now looking forward to a catalyst-driven second half of 2020, including reporting updated data from the LGSOC arm of the investigator-initiated Phase 1/2 FRAME study in September and commencing registration-directed clinical trials in low-grade serous ovarian cancer (LGSOC) and KRAS mutant non-small cell lung cancer (NSCLC) by the end of this year.”\n\n\nSecond Quarter 2020 and Recent Highlights\n\n\n\nAnnounced Path Forward for VS-6766/Defactinib Combination in LGSOC Following Meeting with U.S. FDA. Verastem announced today that the company met with the FDA in July 2020 to discuss the registration-directed study design for the VS-6766/defactinib combination in patients with LGSOC. The FDA was supportive of the Company’s development strategy and adaptive design for LGSOC. Verastem’s NSCLC study will also be an adaptive design with a focus on patients with KRAS-G12V mutant tumors. Verastem intends to seek input from the FDA after completing the initial cohort of the lung cancer study. Verastem expects to commence registration-directed clinical trials for potential accelerated approval in LGSOC and KRAS mutant NSCLC by the end of 2020.\n\n\n\n\nSelling COPIKTRA Franchise to Secura Bio in a Deal Totaling $311 Million, Plus Royalties....