Verastem, Inc. · NASDAQ:VSTM
Verastem — Investor Presentation (March 2026)
35 slides from Verastem's investor presentation, Mar 4, 2026
Slide 1: Corporate Presentation March 2026
Delivering Novel Therapies for RAS/MAPK Pathway-Driven Cancers C O R P O R A T E P R E S E N T A T I O N M A R C H 2 0 2 6
Slide 2: Forward-Looking Statements
2 FORWARD-LOOKING STATEMENTS This presentation includes forward-looking statements about, among other things, Verastem Oncology’s (the “Company”) programs and product candidates, strategy, future plans and prospects, including statements related to the approval and commercialization of AVMAPKIFAKZYN
Slide 3: Verastem Oncology: Tackling Challenging Cancers with Novel Therapies
3 OUR COMMERCIAL PRODUCTS MONOTHERAPY & COMBINATION APPROACHES Verastem Oncology: Tackling Challenging Cancers with Novel Therapies OUR FOCUS To expeditiously develop and deliver transformative therapies that truly change outcomes for people living with RAS/MAPK pathway-driven cancers. RAS: Rat Sarc
Slide 4: Well Positioned to Deliver Continued Commercial Success
4 FDA: Food and Drug Administration in bringing novel RAS/MAPK pathway-targeted therapies from development to FDA approval to commercialization INNOVATIVE PIPELINE SCALABLE ORGANIZATION Well Positioned to Deliver Continued Commercial Success and a Potential Best-in-Class Treatment for Long-term Grow
Slide 5: Precision Targeting of RAS/MAPK-Driven Cancers Differentiates Our Science
EGF: Epidermal Growth Factor; EGRF: Epidermal Growth Factor Receptor; ERK: Extracellular Signal-regulated Kinase; PI3K: Phosphatidylinositol 3-Kinase; AKT: Protein 5 Kinase B; mTOR: Mammalian Target of Rapamycin; YAP: Yes-Associated Protein; TEAD: Transcriptional Enhanced Associate Domain; MYC: Myel
Slide 6: Anticipated Milestones
6 Anticipated Milestones FDA Approved Regimen Phase 1 Phase 2 Phase 3 Trial Name/ Therapeutic Area Asset RAF/MEK Clamp + FAKi RAMP 201 recurrent LGSOC Avutometinib + Defactinib Expect to report topline data by mid-2027 RAF/MEK Clamp + FAKi vs ICT RAMP 301 confirmatory trial in recurrent LGSOC Avutom
Slide 7: Exiting 2025 in a Position of Strength
7 Exiting 2025 in a Position of Strength Having Achieved All Key Goals RAMP201J: reported encouraging data in Japan in patients with recurrent LGSOC FDA approval 2 months ahead of PDUFA action date of June 30, 2025 2A NCCN Guidelines® inclusion RAMP 301: completed IDMC recommended enrollment Avutome
Slide 8: 2026 Priorities
8 Commercial Product and Pipeline Positioned to Deliver Long-Term Shareholder Value Our 2026 PRIORITIES: MAXIMIZE COMMERCIAL LAUNCH EXECUTION OF AVMAPKI FAKZYNJA CO-PACK FOR BROAD HCP ADOPTION CONTINUE EXECUTION OF RAMP 301 CONFIRMATORY PHASE 3 TRIAL IN RECURRENT LGSOC MAINTAIN STRONG BALANCE SHEET
Slide 9: Meaningful Catalysts for 2026
9 Meaningful Catalysts for 2026 O U R M I L E S T O N E S : 1H 2026 2H 2026 1H 2026: Report early data VS-7375-101 from the Phase 1/2 trial MONOTHERAPY VS-7375-101 COMBINATIONS 1H 2026: Select the RP2D with cetuximab and initiate the CRC combination expansion Mid-2026: Complete enrollment in combina
Slide 10: Commercially Launched in the U.S. for KRAS-mutated Recurrent LGSOC
10 Commercially Launched in the U.S. for KRAS-mutated Recurrent LGSOC FDA APPROVAL DATE: MAY 8, 2025
Slide 11: 70% of LGSOC Tumors are Driven by the RAS/MAPK Pathway
11 1. AACR Genie v16.1; 2. Cheasley et al., J Pathol 2021; 3. Thomson et al., Gynecol Oncol 2023; 4. Gershenson et al., Gynecol Oncol 2022; 5. Coma et al., AACR 2022; 6. Ishii et al., Cancer Res, 2013; 7. Lito et al., Cancer Cell, 2014; 8. Lubrano et al., AACR 2024; 9. Banerji et al., AACR 2020; 10.
Slide 12: High Unmet Need in Recurrent LGSOC
12 High Unmet Need for an Effective and Tolerable Therapy in Recurrent LGSOC • U.S. annual incidence: ~1,000-2,0001 and prevalence: 6,000-8,0002 • Affects younger women with bimodal peaks of diagnosis between the ages of 20-30 and 50-60 • Disproportionately impacts health, fertility, and long-term q
Slide 13: Steady Growth Driven by Field Execution, Increase in Prescribers
13 *Not a full quarter; May 8, 2025 FDA approval Verastem DOF; US dollars in millions. Refer to press release issued on March 4, 2026 for full financial details. Steady Growth Driven by Field Execution, Increase in Prescribers • Steady growth among academic and community oncologists with ~300 prescr
Slide 14: Focus on Driving New Patient Starts and Supporting Patients on Therapy
14 Focus on Driving New Patient Starts and Supporting Patients on Therapy Effectively reach healthcare providers Engage and support patients Ensure seamless access High impact digital customer engagement campaign reaching patients where they are to increase awareness and education Offering additiona
Slide 15: Category 2A NCCN Recommendation for KRAS-mutated Recurrent LGSOC
15 AVMAPKI FAKZYNJA CO-PACK: Category 2A Recommendation for KRAS-mutated Recurrent LGSOC NCCN Category 3 NCCN Category 2b NCCN Category 2a NCCN Category 1 General % Commercial Payer Coverage Binimetinib • Study stopped early due to futility • 16% ORR by BICR • 31% discontinuation rate due to AEs • S
Slide 16: RAMP 201: Demonstrated Durable Results Across Efficacy Measures
16 RAMP 201: Demonstrated Durable Results Across Various Efficacy Measures in Heavily Pretreated Patients With and Without a KRAS Mutation Avutometinib + Defactinib Regimen: Best Overall Response 82% of All Patients Had a Reduction in Target Lesions, Regardless of KRAS Status KRAS mt KRAS wt All Pat
Slide 17: RAMP 301: International Phase 3 Confirmatory Trial
17 *US FDA analysis plan will evaluate PFS independently in KRAS-mt and KRAS wt LGSOC; BID: twice a day; BIW: twice a week; DCR: disease control rate; DoR: duration of response; INV: investigator; KRAS: kirsten rat sarcoma virus; MEKi: MEK inhibitor; mt: mutant; PO: per oral; pts, patients; ORR: obj
Slide 18: Potential for Label and Geographic Expansion
18 KRAS MT represents ~33% of the population, while the WT represents 67% and therefore, we will have many more addressable patients. AVMAPKI FAKZYNJA CO-PACK Future Commercial Opportunity RAMP 301: topline data expected in mid-2027. U.S. Label Expansion Leverage the RAMP 301 results to confirm the
Slide 19: VS-7375, Oral KRAS G12D (ON/OFF) Inhibitor
19 VS-7375, Oral KRAS G12D (ON/OFF) Inhibitor
Slide 20: KRAS G12D: The Most Prevalent KRAS Mutation in Cancer
20 Ref: Lee et al Nature, Dec 2022 for epidemiology; 1: McIntyre et al., Cancer Cell 2024, 42:1614-1629 and Hafezi S et al., Int J Mol Sci 2021, 22(19):10219; 2: Judd J, Abdel Karim N, Khan H, et al. Mol Cancer Ther. 2021;20(12):2577-2584; 3: Lee J, et al. J Clin Med. 2020;9(12):3863; BTC: biliary t
Slide 21: VS-7375: Potential Best-in-Class G12D Inhibitor
21 VS-7375: Potential Best-in-Class G12D Inhibitor for Advanced KRAS G12D Mutated Solid Tumors Differentiated Profile vs. Other RAS Inhibitors • Dual potent inhibition of both ON and OFF states of KRAS G12D – Correlates with better in vivo efficacy and durability vs. ON-only RAS inhibitors • High af
Slide 22: VS-7375: Best-in-Class Preclinical Profile
RMC-6236 and RMC-9805 are assets by Revolution Medicine. 22 KP4 Pancreatic Cancer Model LU0876 NSCLC PDX Model LS513 Colorectal Cancer Model VS-7375: Best-in-Class Preclinical Profile Better Efficacy and Durability than G12D ON and Pan-RAS ON Inhibitors in KRAS G12D Mutant Tumor Models Isolated CD3+
Slide 23: GFH375/VS-7375 Single Agent Anti-Tumor Activity in PDAC and NSCLC
GFH375 is being developed by GenFleet Therapeutics in China. Source of data: GenFleet presentation at WCLC, ESMO and company event in 2025. QD: once daily; PR: partial response; TRAE: treatment related adverse events; 23 2L: second line; GFH375/VS-7375 Confers Single Agent Anti-Tumor Activity in Pat
Slide 24: VS-7375-101 Trial: Early Observations Show Manageable Safety
24 VS-7375-101 Trial: Early Observations Show Manageable Safety & Tolerability Profile with Promising Anti-Tumor Activity Part A: Dose Escalation Any KRAS G12D Solid Tumor Part B: Dose Expansion 600 mg QD Dose Level 2: 600 mg QD Dose Level 3: 900 mg QD Dose Level 1: 400 mg QD Dose Level -1: 300 mg Q
Slide 25: Enrollment Initiated in Combination Dose Escalation Cohorts
25 Enrollment Initiated in VS-7375-101 Combination Dose Escalation Cohorts Trial Updates: • Cleared 400 mg and 600 mg QD dose level of VS-7375 in combination with cetuximab with no DLTs • Continuing higher dose evaluation in this combination Currently enrolling Part C: Combination Dose Escalations C
Slide 26: VS-7375 600 mg QD Achieves Targeted Human AUCss
600 mg VS-7375 QD PO in Clinical Studies Achieves the Targeted Human AUCss for Maximal Tumor Regression Across Mouse Models GenFleet ASCO 2025 Presentation; VSTM DOF; AUC: Area Under the Curve; PR: Partial Response VS-7375 (ng*h/mL) 600mg QD VS-7375-101 n=7 n=5 n=4 GenFleet Study 400mg QD 600mg QD 9
Slide 27: VS-7375 Safety/Tolerability Profile
27 VS-7375 Safety/ Tolerability Profile • No drug-related liver function test abnormalities were reported in any patient across any of the dose levels evaluated • No neutropenia >Grade 2 was reported • Rates of nausea, vomiting and diarrhea, using standard prophylactic anti-nausea agents and rapid i
Slide 28: Development Focus on Highest Unmet Need Populations
28 Development Focus on Highest Unmet Need Populations to Expedite Regulatory Submissions Initiate single-agent and combination randomized registration-directed studies 2H 2026 into 2027 Pursue regulatory approvals 2027+ Complete single-agent and combination dose expansion cohorts 1H into 2H 2026
Slide 29: Topline Data from RAMP 205 in First-Line Metastatic Pancreatic Cancer
Topline Data from RAMP 205: Avutometinib + Defactinib + Standard of Care in First-Line Metastatic Pancreatic Cancer
Slide 30: RAMP 205: Updated Data Presented at ASCO 2025
30 Source: F_TR_WATERFALL.sas Data Cut: 01 AUG 25; Source: Program:F_TX_RS_SWIMMER_DL1.sas Data Cut: 25 APR 25; AE: adverse event; MG: milligram; Gem: gemcitabine; NabP: Nab-paclitaxel RAMP 205: Updated Date Presented At ASCO 2025 Trial Status: • Dose Level 1 (DL1) chosen as RP2D for expansion phase
Slide 31: Financials
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Slide 32: Q4 & Full Year 2025 Results
32 AVMAPKI FAKZNJYA CO-PACK Q4 & Full Year 2025 Results *May 8 FDA approval through December 2025. US dollars in millions. Refer to press release issued on March 4, 2026 for full financial details. Q4 2025 NET PRODUCT REVENUE $17.5M $30.9M FY2025 NET PRODUCT REVENUE* Please see the full Prescribing
Slide 33: Q4 & Full Year 2025 Financial Results
33 * Three months ended December 31, 2025 GAAP operating expenses of $59.01M less Q4 2025 stock-based compensation expense of $2.03M = $56.98M Q4 2025 non-GAAP operating expenses. ** Year ended December 31, 2025 GAAP operating expenses of $201.04M less year ended December 31, 2025 stock based compen
Slide 34: Delivering for Long-term Growth
EU: European Union 34 Delivering for Long-term Growth • Established commercial presence with AVMAPKI FAKZYNJA CO-PACK RAMP 301: Fully-enrolled Phase 3 confirmatory trial has the potential to expand U.S. label and can be leveraged for EU/Japan approvals in recurrent LGSOC regardless of KRAS mutation
Slide 35: Thank You
THANK YOU! YJ NERASTEM NY ONCOLOGY