Slide 1: Q1 2026 Financial Results and Business Updates
Q1 2026 Financial Results and Business Updates May 7, 2026
Slide 2: Disclaimers
Disclaimers 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 commercialization of AVMAPKI®FAKZYNJA
Slide 3: Verastem Agenda and Conference Call Participants
Verastem Agenda and Conference Call Participants Julissa Viana Introduction SVP, Corporate Communications, Investor Relations and Patient Advocacy Opening Remarks & Dan Paterson AVMAPKI® FAKZYNJA® President and Chief Executive Officer CO-PACK Update Michael Kauffman, MD, PhD Pipeline Updates Preside
Slide 4: Opening Remarks
Opening Remarks Dan Paterson President & CEO 4
Slide 5: Recent Business Highlights
Recent Business Highlights Q1 FINANCIAL AVMAPKI FAKZYNJA PIPELINE PERFORMANCE CO-PACK PROGRESS $18.7M net 1-year since Accelerated Approval VS-7375: initiated Phase 2 product revenue Registration-Directed Trials ~$50M in total net product in PDAC, NSCLC, CRC revenue to date PDAC: pancreatic ductal c
Slide 6: AVMAPKI FAKZYNJA CO-PACK Launch Performance
AVMAPKI® FAKZYNJA® CO-PACK Launch Performance Dan Paterson President & CEO 6
Slide 7: Driving Impact in the First Year of Launch
Driving Impact in the First Year of Launch FY25 $18.7M in Net Product Revenue in Q1’26 $18.7M $30.9M $17.5M Achieved ~$50M in AVMAPKI FAKZYNJA CO-PACK Net Product Revenue Since Launch in May 2025 $11.2M 400+ unique U.S. prescribers 65% of commercially eligible patients through April 2026 are using o
Slide 8: Three Key Drivers to Realize Full Benefits of AVMAPKI FAKZYNJA CO-PACK
Three Key Drivers to Realize Full Benefits of AVMAPKI FAKZYNJA CO-PACK New Use at Help Patients First Patients Stay Starts Recurrence on Therapy Please see the full Prescribing Information for more information 8
Slide 9: Substantial Market Opportunity, Growth Potential Ahead
Substantial Market Opportunity, Growth Potential Ahead Expand Deepen Shift Reach among Experience with Entrenched prescribers who AVMAPKI FAKZYNJA prescribing behaviors haven’t prescribed CO-PACK among AVMAPKI FAKZYNJA current prescribers CO-PACK Maximizing Benefit with AVMAPKI FAKZYNJA CO-PACK at F
Slide 10: Pipeline Updates
Pipeline Updates Michael G. Kauffman, MD, PhD President of Development 10
Slide 11: Building Clinical Evidence to Become the Preferred Agent for KRAS G12D-mutated Cancers
Building Clinical Evidence to Become the Preferred Agent for KRAS G12D- mutated Cancers Continuing Dose Escalation & Combination Evaluations Ex-US Data Provides Roadmap Path to Accelerated Approval Strong Partner Data (GenFleet)1 U.S. Trial: Emerging Favorable Safety • Phase 2 trials designed to sup
Slide 12: Maximizing the Opportunity in PDAC Through VS-7375
Maximizing the Opportunity in PDAC Through VS-7375 Monotherapy and EGFR Combination Strategies 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) R 1:1 randomization Cohort(s) that meet efficacy threshold* VS-7375 900 m
Slide 13: Evaluating VS-7375 Monotherapy in Advanced NSCLC, Including Patients with Brain Metastases
Evaluating VS-7375 Monotherapy in Advanced NSCLC, Including Patients with Brain Metastases 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 Endpoints Milestone
Slide 14: Advancing a VS-7375 Combination Strategy with EGFR Inhibitors and Chemotherapy in Metastatic CRC
Advancing a VS-7375 Combination Strategy with EGFR Inhibitors and Chemotherapy in Metastatic CRC Part A: 2L+ CRC 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 mg QD as OR go-for
Slide 15: 900 mg QD of VS-7375 Achieves the Targeted Human AUCss in All Patients
900 mg QD of VS-7375 Achieves the Targeted Human AUCss in All Patients Corresponding to Maximal Tumor Regression across Mouse Models VS-7375-101 GenFleet Study (TARGET-D 101) n=11 n=49 n=8 10000 VS-7375 (ng*h/mL) Equivalent exposure to mice at 100 mg/kg (PR in almost all mice in 4 tumor models) VS-7
Slide 16: Pipeline Milestones for 2026
Pipeline Milestones for 2026 1H2026 Mid-2026 2H 20206 Q2 2026: Report an update RAMP 205 1L PDAC on the safety & efficacy of the Avutometinib + Defactinib + expansion cohort with six Gem/NabP months of follow-up on all patients VS-7375 TARGET-D 101 Dose escalation & expansion Report early data from
Slide 17: Q1 2026 Financial Update
Q1 2026 Financial Update Dan Calkins Chief Financial Officer 17
Slide 18: Q1 2026 Financial Highlights
Q1 2026 Financial Highlights Financial Summary Three Months Ended March 31, 2026 ($ in millions) Net Product Revenue $18.7M GAAP Operating Expenses $63.6M Non-GAAP Operating Expenses $61.5M* As of March 31, 2026 Cash, cash equivalents & short-term investments $181.7M Shares Outstanding 87.8M** Oberl
Slide 19: Closing Remarks
Closing Remarks Dan Paterson, President & CEO 19
Slide 20: Q&A
Q&A / VERASTEM ONCOLOGY 20