CHGCF - Verastem: Still Bullish After Chugai Pharmaceutical Deal
Verastem, Inc. (VSTM) had a rough 2019 with a disappointing launch for COPIKTRA and the share price reacted accordingly. Recently, the company publicized that they closed a global licensing agreement with Chugai Pharmaceutical (CHGCF) to acquire the worldwide development and commercialization rights to their CH5126766 oncology agent. Surprisingly, the market fully-embraced this agreement with the stock shooting up about 14% in reaction to the news. The share price has quickly climbed off its 52-week low of $0.83 and is now trading around $2.00 per share. Despite the sharp reversal off