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VSTM - Verastem: A Shocking Drop On 'Positive' Data (Maintain Buy)
Verastem Inc.
2024-05-26 02:02:40 ET
Summary
Verastem Oncology's stock dropped significantly after the announcement of data from the RAMP-205 study investigating avutometinib in combination with standard chemotherapy for metastatic pancreatic cancer.
The study showed promising early efficacy signal with 87% response rate, but also a high rate of serious adverse events.
Verastem Oncology is on track to secure a drug approval for avutometinib, but their low cash position poses a significant risk.