Verastem, Inc. · NASDAQ:VSTM
Verastem — Investor Presentation (January 2026)
32 slides from Verastem's investor presentation, Jan 8, 2026
Slide 1: Delivering Novel Therapies for RAS/MAPK Pathway-Driven Cancers
Delivering Novel Therapies for RAS/MAPK Pathway - Driven Cancers CORPORATE PRESENTATION JANUARY 2026
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 an d product candidates, strategy, future plans and prospects, including statements related to the approval and commercialization of AVMAPKIF
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 Sa
Slide 4: Well Positioned to Deliver Continued Commercial Success and Potential Best-in-Class Treatment
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 - t
Slide 5: Precision Targeting of RAS/MAPK-Driven Cancers Differentiates Our Science
5 EGF: Epidermal Growth Factor; EGRF: Epidermal Growth Factor Receptor ; ERK: Extracellular Signal - regulated Kinase; PI3K: Phosphatidylinositol 3 - Kinase; AKT: Protein Kinase B ; mTOR: Mammalian Target of Rapamycin; YAP: Yes - Associated Protein; TEAD: Transcriptional Enhanced Associate Domain ;
Slide 6: Anticipated Milestones
6 Anticipated Milestones FDA Approved Phase 3 Phase 2 Phase 1 Regimen 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 Avut
Slide 7: Exiting 2025 in a Position of Strength Having Achieved All Key Goals
7 Exiting 2025 in a Position of Strength Having Achieved All Key Goals RAMP201J: reported e ncouraging 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 A vu
Slide 8: Our 2026 Priorities
8 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
Slide 9: Meaningful Catalysts for 2026
9 • Continued strong execution of product launch Meaningful Catalysts for 2026 RP2D: Recommended Phase 2 Dose OUR MILESTONES: Avutometinib + Defactinib REGULATORY • In 1H 2026, plan to engage with the FDA to discuss our development path forward in PDAC, NSCLC and CRC , including potential regist
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
Slide 12: High Unmet Need for an Effective and Tolerable Therapy in Recurrent LGSOC
12 High Unmet Need for an Effective and Tolerable Therapy in Recurrent LGSOC • U.S. annual incidence: ~1,000 - 2,000 1 and prevalence: 6,000 - 8,000 2 • A ffects younger women with bimodal peaks of diagnosis between the ages of 20 - 30 and 50 - 60 • Disproportionately impacts health, fertility, and
Slide 13: Continued Launch Momentum in Q3 2025
13 Continued Launch Momentum in Q325 133 Prescribers 65% Rx generated by top 100 organizations 60% Rx coming from GynOncs ; 40% from MedOncs of net product revenue in Q3 2025 $11.2M Please see the full Prescribing Information for more information VSTM DOF Q3 2025; Rx – prescriptions; GynOncs : gynec
Slide 14: Effective Launch Strategy Drives Commercial Success
14 Effective Launch Strategy Drives Commercial Success Effectively reach healthcare providers Engage and support patients Ensure seamless access VSTM DOF; SPs: Specialty Pharmacies; SDs: Specialty Distributors Target both prevalent and newly recurrent patient populations High impact digital customer
Slide 15: NCCN Submission for Treatment Guideline Inclusion Under Review
15 NCCN Submission for Treatment Guideline Inclusion Under Review for the Entire Population Enrolled in RAMP 201 Study 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% disco
Slide 16: RAMP 201: Demonstrated Durable Results Across Various 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 wt KRAS mt 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. BICR: blinded independent central review; 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:
Slide 18: Potential for Label and Geographic Expansion
18 KRAS MUT represents ~33% of the population, while the WT represents 67% and therefore, we will have many more addressable pat ien ts. 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 confi
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: bili
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 •
Slide 22: VS-7375: Best-in-Class Preclinical Profile
22 RMC - 6236 and RMC - 9805 are assets by Revolution Medicine. KP4 Pancreatic Cancer Model LU0876 NSCLC PDX Model 0 5 10 15 20 25 0 500 1000 1500 Days after first dose T u m o r v o l u m e ( m m 3 + / - S E M ) Vehicle VS-7375 30 mg/kg BID po RMC-6236 25 mg/kg QD po vehicle RMC-6236 VS-7375 0 10 2
Slide 23: GFH375/VS-7375 Confers Single Agent Anti-Tumor Activity in PDAC and NSCLC
23 GFH375 is being developed by GenFleet Therapeutics in China. Source of data: GenFleet presentation at WCLC, ESMO and company eve nt in 2025. QD: once daily; PR: partial response; TRAE: treatment related adverse events; 2L: second line; GFH375/VS - 7375 Confers Single Agent Anti - Tumor Activity i
Slide 24: VS-7375 Trial: Early Observations Show Manageable Safety and Tolerability
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: 3
Slide 25: Enrollment Initiated in VS-7375-101 Combination Dose Escalation Cohorts
25 *Amendment to cohort changes is pending. Enrollment Initiated in VS - 7375 - 101 Combination Dose Escalation Cohorts Trial Updates: • Cleared 400 mg QD VS - 7375 dose level in combination with cetuximab • Currently evaluating 600 mg QD dose level in combination with cetuximab Finalizing registrat
Slide 26: Development Focus on Highest Unmet Need Populations
26 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 2
Slide 27: 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 28: RAMP 205: Updated Data Presented at ASCO 2025
28 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 ph
Slide 29: Financials
Financials \W VERASTEM . ONCOLOGY
Slide 30: Key Financials
30 *Pro - Forma amount includes net proceeds from November 2025 follow - on equity offering of $97.3M **Q3 2025 GAAP operating expenses of $51.96M less Q3 2025 stock - based compensation expense of $2.18M = $49.78M Q3 2025 non - GAAP operating expenses. ***Excludes unexercised warrants (9.0M shares
Slide 31: Delivering for Long-term Growth
31 31 EU: European Union 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 KRA
Slide 32: Thank You!
THANK YOU! W VERASTEM ONCOLOGY