Verastem, Inc. · NASDAQ:VSTM
Verastem — Investor Presentation (August 2026)
49 slides from Verastem's investor presentation, August 2026
Slide 1: Delivering Novel Therapies for RAS/MAPK Pathway-Driven Cancers
Delivering Novel Therapies for RAS/MAPK Pathway- Driven Cancers C O R P O R AT E P R E S E N TA TI O N AU GUS T 2 0 26
Slide 2: Disclaimers
Disclaimers FORWARD-LOOKING STATEMENTS This presentation inc ludes forward-lookin g statem ents about, among other things, Verastem Oncology’s (the “Company”) programs and product candidates, strategy, future plan s and prospects, including statements related to the approval and commercialization of
Slide 3: Verastem Oncology: Tackling Challenging Cancers with Novel Therapies
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. OUR COMMERCIAL MONOTHERAPY & COMBINATION APPROACHES PRODUCTS VS-7375 Avutome
Slide 4: Well Positioned to Deliver Continued Commercial Success and a Potential Best-in-Class Treatment
OUR ADVANTAGE: Well Positioned to Deliver Continued Commercial Success and a Potential Best-in-Class Treatment for Long-term Growth CLINICAL-TO- INNOVATIVE SCALABLE COMMERCIAL SUCCESS PIPELINE ORGANIZATION in bringing novel RAS/MAPK with a potential best-in- to maximize future pathway-targeted thera
Slide 5: Precision Targeting of RAS/MAPK-Driven Cancers Differentiates Our Science
OUR SCIENTIFIC STRATEGY: Precision Targeting of RAS/MAPK-Driven Cancers Differentiates Our Science TARGET THE PARALLEL TARGET PATHWAY THAT RAS DIRECTLY DRIVES RESISTANCE TARGET THE PATHWAY DOWNSTREAM First novel/novel combination therapy, targeting the RAS/MAPK pathway, approved in oncology EGF: Epi
Slide 6: Multi-Faceted & Targeted Approaches to Address RAS/MAPK-Driven Cancers
OUR PIPELINE: Multi-Faceted & Targeted Approaches to Address RAS/MAPK-Driven Cancers Asset Line of Therapy Phase Upcoming Milestones Avutometinib, RAF/MEK Clamp + Defactinib, FAKi Avutometinib RAMP 201: Phase 2 Registration Directed Trial; Recurrent LGSOC + Defactinib Accelerated FDA Approval May 20
Slide 7: Upcoming Catalysts/Milestones
OUR MILESTONES: Upcoming Catalysts/Milestones June 2026 Mid-2026 2H 2026 End of 2026 1H 2027 ✓ Dosed first ✓ Dosed first • Report an update • Complete • Enroll first patient in patient in on VS-7375 enrollment across patient in each of TARGET-D 201 TARGET-D 202 across tumor types all three the Phase
Slide 8: Commercially Launched in the U.S. for KRAS-mutated Recurrent LGSOC
Commercially Launched in the U.S. for KRAS- mutated Recurrent LGSOC FDA APPROVAL DATE: MAY 8, 2025 8
Slide 9: 70% of LGSOC Tumors are Driven by the RAS/MAPK Pathway
70% of LGSOC Tumors are Driven by the RAS/MAPK Pathway; ~30% of These Have a KRAS Mutation 1,2,3,4 The Combination of Avutometinib and Defactinib Induces Deeper Inhibition of Tumor Growth • Avutometinib inhibits MEK kinase activity while blocking the compensatory reactivation of MEK by upstream RAF
Slide 10: High Unmet Need for an Effective and Tolerable Therapy in Recurrent LGSOC
High Unmet Need for an Effective and Tolerable Therapy in Recurrent LGSOC • U.S. annual incidence: ~1,000-2,0001 and prevalence: 6,000-8,000 2 • Affects younger women with bimodal peaks of diagnosis between the ages of 20-30 and 50-60 – Disproportionately impacts health, fertility and long-term qual
Slide 11: Real World Experience: From Recurrence to Complete Response
Real World Experience: From Recurrence to Complete Response with AVMAPKI FAKZYNJA CO-PACK Mary, 52, real patient treated with AVMAPKI FAKZYNJA CO-PACK for recurrent KRAS-mutated LGSOC • 2019 - Diagnosed at 48 with Stage 3 KRAS-mutated LGSOC • Treated with surgery, chemotherapy and AI; no evidence of
Slide 12: AVMAPKI FAKZYNJA CO-PACK: Focused Execution Will Drive Sustained Growth
AVMAPKI FAKZYNJA CO-PACK: Focused Execution Will Drive Sustained Growth Consistent ✓ New patient starts New Patient Starts ✓ Repeat prescribing Use at ✓ Depth of prescribing among existing First or Next accounts Recurrence ✓ Use in earlier-line patients Help Patients Stay ✓ Increased refills on Ther
Slide 13: AVMAPKI FAKZYNJA CO-PACK: Steady Revenue Growth Since Launch
AVMAPKI FAKZYNJA CO-PACK: Steady Revenue Growth Since Launch $25.1M in Net Product Revenue in Q2’26 $25.1M Achieved ~$74.5M in AVMAPKI FAKZYNJA CO-PACK $18.7M Net Product Revenue Since Launch in May 2025* $17.5M $11.2M Q3’25 Q4’25 Q1’26 Q2’26 NE T PRO DUCT REVENUE* Please see the full Prescribing In
Slide 14: RAMP 201: Demonstrated Durable Results Across Various Efficacy Measures
RAMP 201: Demonstrated Durable Results Across Various Efficacy Measures in Heavily Pretreated US & European Patients With and Without a KRAS Mutation Positive initial data from Japan RAMP 201J study All Patients1 KRAS mt KRAS wt ORR % 31% 44% 17% 82% of All Patients Had a Reduction in Target Lesions
Slide 15: RAMP 301: International Phase 3 Confirmatory Trial
RAMP 301: International Phase 3 Confirmatory Trial of Avutometinib + Defactinib in Recurrent LGSOC • Expect to report topline primary endpoint of PFS by mid-2027 • Similar entry criteria to RAMP 201 patient population: KRAS mt and KRAS wt recurrent LGSOC • Study sites include the U.S., Canada, UK, E
Slide 16: AVMAPKI FAKZYNJA CO-PACK Future Commercial Opportunity
AVMAPKI FAKZYNJA CO-PACK Future Commercial Opportunity Potential for Label and Geographic Expansion 2029 2028 Europe: Leverage results from 2027 Japan: RAMP 301 for potential Leverage the results from approval in both KRAS RAMP 201J & RAMP 301 for mutant and wild type RAMP 301: potential approval in
Slide 17: VS-7375, Oral KRAS G12D (ON/OFF) Inhibitor
VS-7375, Oral KRAS G12D (ON/OFF) Inhibitor 17
Slide 18: KRAS G12D: The Most Prevalent Mutation in Cancer with Poor Prognosis
KRAS G12D: The Most Prevalent Mutation in Cancer with Poor Prognosis and High Unmet Need VS-7375: Opportunity to Address a Large Patient Population Across KRAS G12D-Mutated Cancers PANCREATIC CANCER COLORECTAL CANCER LUNG CANCER 40% 15% 5% KRAS G12D mutation is a significant driver KRAS G12D mutatio
Slide 19: VS-7375: Potential Best-in-Class G12D Inhibitor
VS-7375: Potential Best-in-Class G12D Inhibitor for Advanced KRAS G12D- Mutated Cancers D I FF E R E NTI AT ED PR O F ILE VS . O TH E R R A S I NH I B ITOR S Dual potent inhibition of both ON and OFF states of KRAS G12D Correlates with better in vivo efficacy and durability vs. ON-only (tricomplex)
Slide 20: VS-7375: Well-Positioned to Compete as Best-in-Class KRAS G12D Inhibitor
VS-7375: Well-Positioned to Compete as Best-in-Class KRAS G12D Inhibitor in Pancreatic, Colorectal and Lung Cancer Markets Differentiated Anti-tumor Favorable Broad Defined Profile Activity Across Tolerability Combination Development Tumors Profile Potential Path Potential best-in- Efficacy at both
Slide 21: VS-7375: Competitive Profile Emerging Across Pancreatic, Colorectal and Lung Cancers
VS-7375: Competitive Profile Emerging Across Pancreatic, Colorectal and Lung Cancers Anti-tumor Activity • Clinical activity at multiple doses in • Dose-response efficacy in PDAC Across Tumor Types pancreatic, colorectal and lung • Potential for chemo-free regimen in PDAC cancers • Favorable mono an
Slide 22: VS-7375: Enrolled 190+ Patients Across Dose Escalation & Expansion Cohorts
VS-7375: Enrolled 190+ Patients Across Dose Escalation & Expansion Cohorts Completed target enrollment in PDAC, CRC, and NSCLC cohorts in June 2026 Phase 1/2 Study Evaluating VS-7375, a KRAS G12D (ON/OFF) inhibitor, as Monotherapy and in Combination, in Patients with KRAS G12D-Mutated Solid Tumors D
Slide 23: VS-7375 Achieves Targeted Human AUCss in Majority of Patients
900 mg QD of VS-7375 Achieves the Targeted Human AUCss in the Majority of Patients Corresponding to Maximal Tumor Regression Across Mouse Models TARGET-D 101 TA R G E T- D 1 0 1 N=11 N=11 N=73 N=73 N=24 N=24 10000 VS-7375 (ng*h/mL) Equivalent exposure to mice at 100 mg/kg (PR in almost all mice in 4
Slide 24: 93% of mPDAC Patients Achieved >50% Reduction in CA19-9
93% of mPDAC Patients Treated with VS-7375 900 mg QD Achieved >50% Reduction in CA19-9 14 patients dosed at 900 mg QD had 0101-020 On Treatment elevated 0102-004 levels of CA19-9 at baseline (>37 0 U/mL) 0103-007 and at least one scheduled on- treatment measurement % Change in CA19-9 0104-012 (from
Slide 25: VS-7375: Single Agent and Combination Responses in PDAC Patients
VS-7375: Compelling Single Agent and Combination Responses in PDAC Patients, As Early as Week 6 Confirmed Partial Response Complete Resolution of Target Deep and Rapid Response at Week 12 Lesion at Week 6 Achieved at Subtherapeutic Dose + Anti-EGFR Baseline Lesion: Week 12: Baseline Lesion: Week 6:
Slide 26: VS-7375: Deep and Durable Tumor Responses Across Lung and Colorectal Cancers
VS-7375: Deep and Durable Tumor Responses Observed Across Lung and Colorectal Cancers NSCLC: Confirmed Partial Response at Week 6 with CRC: Marked Reduction Deepening of Response Through Week 12 of Disease Burden Baseline Lesion: Week 12: Baseline Lesion: Week 12: (SLD 69mm) cPR (-49%) (SLD: 35mm) (
Slide 27: VS-7375: Safety Summary: Favorable Tolerability Profile
VS-7375: Safety Summary: Favorable Tolerability Profile Across Monotherapy and Combinations Primarily No unexpected AE profile does low-grade nausea, AEs and low not show a dose- vomiting, diarrhea rates of dependent pattern Grade 3 AEs Nearly all No clinically- Promising longer meaningful term tole
Slide 28: VS-7375 Well-Tolerated Up To 900 mg; Low-Grade GI AEs Most Common
VS-7375 Well-Tolerated Up To 900 mg; Low-Grade GI AEs Most Common TRAEs reported in >1 patient 600 mg (N=57) 900 mg (N=25) Gr. 1 Gr. 2 Gr. 3 Gr. ≥4 All Gr. Gr. 1 Gr. 2 Gr. 3 Gr. ≥4 All Gr. System Organ Class / Preferred Term n(%) n(%) n(%) n(%) n(%) n(%) n(%) n(%) n(%) n(%) Gastrointestinal disorder
Slide 29: Major TRAEs Largely Attenuated After Cycle 1
Major TRAEs Largely Attenuated After Cycle 1 on Both VS-7375 600 mg QD & 900 mg QD TRAEs reported in >1 patient after cycle 1 (≥29 days); only include patients followed up for at least 29 days 600 mg 900 mg (N=51) (N=22) Gr. 1 Gr. 2 Gr. 3 Gr. ≥4 All Gr. Gr. 1 Gr. 2 Gr. 3 Gr. ≥4 All Gr. System Organ
Slide 30: Maximizing the Opportunity in PDAC Through Monotherapy and EGFR Combination
Maximizing the Opportunity in PDAC Through VS-7375 Monotherapy and EGFR Combination Strategies FPD in June 2026 Part A: 2L PDAC Part B: 2L PDAC Expansion VS-7375 900 mg VS-7375 900 mg Cohort Cohort monotherapy monotherapy A1 B1 (N=20) (N=60) Cohort(s) that meet R 1:1 randomization efficacy threshold
Slide 31: Evaluating VS-7375 Monotherapy in Advanced NSCLC
Evaluating VS-7375 Monotherapy in Advanced NSCLC, Including Patients with Brain Metastases FPD in July 2026 Part A: 2L/3L NSCLC Part B: 2L/3L NSCLC Confirm VS-7375 900 mg QD Preferred dose of VS-7375 Cohort A: 900 mg QD is the Cohort B: (N=20) (N=60) go-forward dose Next Key Study Population Key End
Slide 32: VS-7375 Combination Strategy in Metastatic CRC
Advancing a VS-7375 Combination Strategy with EGFR Inhibitors and Chemotherapy in Metastatic CRC FPD in July Part A: 2L+ CRC 2026 Part B: 2L+ CRC VS-7375 900 + Cetuximab or Cohort Panitumumab Preferred Regimen: A1: (N=40) VS-7375 + Cetuximab or Confirm Panitumumab R 2:1 randomization Cohort B: 900 m
Slide 33: VS-7375: Parallel Clinical Development Paths
VS-7375: Leveraging Potential Best-in-Class Profile to Pursue Parallel Clinical Development Paths Now Next Future 2L mPDAC mono & EGFR Combo 1L mPDAC EGFR Combo & Clinical Approaches: 1L mPDAC EGFR Combo GnP Combo* Pancreatic • Earlier lines Cancer ✓ FDA granted Fast Track Designations in advanced/m
Slide 34: RAMP 205: Avutometinib + Defactinib + Standard-of-Care in First-Line Metastatic Pancreatic Cancer
RAMP 205: Avutometinib + Defactinib + Standard-of Care in First-Line Metastatic Pancreatic Cancer
Slide 35: RAMP 205: 86% 6-month Overall Survival Rate
RAMP 205: 86% 6-month Overall Survival Rate, Follow-up Continues and Survival Data Continue to Mature • 90% of patients presented with metastatic disease (Stage IV) at diagnosis • At the RP2D (DL1), the majority (83%) of patients experienced tumor shrinkage • 9 patients remain on therapy, follow up
Slide 36: Financials
Financials WW VERASTEM . ONCOLOGY
Slide 37: Q2 2026 Financial Highlights
Q2 2026 Financial Highlights Proforma cash of $201.4M with Oberland and COPIKTRA sales milestone, combined with expected product revenue and future tranche from Oberland facility, expected to extend cash runway into 2H 2027 Financial Summary Three Months ($ in millions) Ended June 30, 2026 Net Produ
Slide 38: Delivering for Long-term Growth
Delivering for Long-term Growth • Establishing commercial presence with AVMAPKI FAKZYNJA CO-PACK – Meaningful quarterly growth driven by new patient starts, increased refills and expanding physician adoption – RAMP 301: Fully-enrolled Phase 3 confirmatory trial has the potential to expand U.S. label
Slide 39: Thank You!
THANK YOU! WYERASTEM ONCOLOGY
Slide 40: Appendix
Appendix ONCOLOGY W YERASTEM
Slide 41: AVMAPKI FAKZYNJA CO-PACK: Category 2A Recommendation for KRAS-mutated Recurrent LGSOC
AVMAPKI FAKZYNJA CO-PACK: Category 2A Recommendation for KRAS- mutated Recurrent LGSOC NCCN NCCN NCCN NCCN Category 1 Category 2a Category 2b Category 3 General % Commercial Payer Coverage Examples of Clinical No category 1 Binimetinib Avutometinib + Defactinib Data in LGSOC and recommendation • Stu
Slide 42: AVMAPKI FAKZYNJA CO-PACK Patent Portfolio
AVMAPKI FAKZYNJA CO-PACK Patent Portfolio OB: 7,928,109 Defactinib COM US (expiry 4/17/2028) PTA PTE (Aug, 2034) OB: 7,897,792 Avutometinib COM (expiry 2/9/2027) OB: 8,247,411 Defactinib – genus (expiry 4/17/2028) OB: 11,400,090 – Avutometinib mono dosing - (expiry 10/29/2038) PTE PTE (May 2039) OB:
Slide 43: GFH375/VS-7375 Confers Single Agent Anti-Tumor Activity in PDAC and NSCLC
GFH375/VS-7375 Confers Single Agent Anti-Tumor Activity in Patients with Previously Treated PDAC and NSCLC NSCLC PDAC • 68.8% ORR (n=16) at 600 mg QD; 57.7% ORR (n=26) evaluable pts* • 58.3% ORR (n=12) in 2L; 40.7% ORR (n=59) in all evaluable pts at 600 mg QD* • Among the 5 pts with baseline brain m
Slide 44: Novel Combinations with VS-7375 Induce Sustained Tumor Regressions in Preclinical Models
Novel Combinations with VS-7375 Induce Dramatic and Sustained Tumor Regressions in Preclinical Models 1500 Combination of VS-7375 With Daraxonrasib Yields More Combination of VS-7375 + PRMT5 Inhibitor Induces Dramatic navlimetostat (mm3 +/- SEM) Tumor volume vehicle Sustained Tumor Regression Than C
Slide 45: Confirmed Partial Response at Week 12 with VS-7375 900 mg QD Monotherapy
Confirmed Partial Response at Week 12 with VS-7375 900 mg QD Monotherapy in 55 y/o Male with mPDAC Baseline Lesion: Week 12: • Prior mFOLFIRINOX (SD for 4 mos) Liver, surgical bed, peritoneum cPR (-47%) (SLD: 80mm) and Gem/NabP (PD after 2 mos) (SLD: 151mm) Response ongoing • Investigator-reported p
Slide 46: Complete Resolution of Target Lesion at Week 6 with VS-7375 900 mg QD
Complete Resolution of Target Lesion at Week 6 with VS-7375 900 mg QD Monotherapy in 79 y/o Female with mPDAC Baseline Lesion: Week 6: • Prior Gem/NabP (6 mos of Tx) , NALIRI (11 Mesentery, peritoneum uPR (-100%) (SLD: 0mm) mos of Tx), and FOLFOX (3 mos of Tx) (SLD: 64mm) Response ongoing • Investig
Slide 47: Deep and Rapid Response Achieved at Subtherapeutic Dose with VS-7375 400 mg QD
Deep and Rapid Response Achieved at Subtherapeutic Dose with VS-7375 400 mg QD + Anti-EGFR in 64 y/o Male with mPDAC Baseline Lesion: Pleura, lung, Week 6: Week 12: • Prior FOLFIRINOX + RT (PR) and mediastinum lymph node cPR (-46%) (28mm) cPR: (-70%) (16mm) FOLFIRINOX (SD for 3 mos) (52mm) • Investi
Slide 48: Marked Reduction of Disease Burden with VS-7375 600 mg QD + Cetuximab
Marked Reduction of Disease Burden with VS-7375 600 mg QD + Cetuximab in Heavily Pre-treated 42 y/o Male with mCRC Baseline Lesion: Week 12: • 6 prior lines of therapy. Exhausted (SLD: 370mm) SD: (-29.5%) (SLD: 260mm) standard-of-care therapies, including TAS-102, and received 2 different and sequen
Slide 49: Confirmed Partial Response at Week 6 with Deepening of Response Through Week 12
Confirmed Partial Response at Week 6 with Deepening of Response Through Week 12 at VS-7375 600 mg QD in 77 y/o Female with Advanced NSCLC Baseline Lesion: Week 12: (SLD 69mm) cPR (-49%) (SLD: 35mm) ▪ Prior therapy of Pemetrexed-Carbo- Pembro (SD 4 mos) ▪ Patient had an unconfirmed partial response a