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SVB Leerink Boosts Vericel $VCEL Price Target to $30.00
HC Wainwright & Co. Maintains to Buy : PT $26.00
Verastem Oncology Announces Closing of COPIKTRA® (duvelisib) Sale to Secura Bio
September 30 2020 - 08:54AM
Business Wire
Verastem Now Focused on Development of VS-6766 and Defactinib Combination in Low-Grade Serous Ovarian Cancer and KRAS Mutant Non-Small Cell Lung Cancer
Registration-Directed Clinical Trials in LGSOC and KRAS Mutant NSCLC Expected to Commence by Year End 2020
Verastem, Inc. (Nasdaq:VSTM) (also known as Verastem Oncology), a biopharmaceutical company committed to advancing new medicines for patients battling cancer, today announced that it has completed the sale of Verastem's COPIKTRA (duvelisib), a marketed oral inhibitor of phosphoinositide 3-kinase (PI3K), and the first FDA-approved dual inhibitor of PI3K-delta and PI3K-gamma, to Secura Bio, Inc.
In consideration for the COPIKTRA assets, Verastem received from Secura Bio $70 million in cash. Additionally, Verastem is eligible to receive up to a total deal value of $311 million if certain regulatory and sales-based milestones are successfully met by Secura Bio and COPIKTRA’s other rest-of-world partners. Verastem will also receive low double-digit royalties on net sales over $100 million in the U.S., Europe and the United Kingdom. Secura Bio has assumed all operational and financial responsibility for COPIKTRA program activities, including commercialization efforts in the United States and Europe, ongoing clinical trials, development and commercialization partnerships with Yakult, CSPC and Sanofi and existing royalty obligations.
Verastem’s sale of COPIKTRA to Secura Bio follows Verastem’s previously announced new strategic direction focused on development of its RAF/MEK inhibitor (VS-6766) and FAK inhibitor (defactinib) program in KRAS mutant (KRASmt) solid tumors. Verastem’s first potential indications for the VS-6766 and defactinib combination will be in low-grade serous ovarian cancer (LGSOC) and KRASmt non-small cell lung cancer (NSCLC).
“This transaction delivers clear benefits for both Verastem Oncology and Secura Bio. At Verastem, we will now focus all of our efforts and resources on development of the VS-6766 and defactinib combination in LGSOC and KRASmt NSCLC,” said Brian Stuglik, Chief Executive Officer of Verastem Oncology. “The ongoing Phase 1/2 FRAME study continues to provide encouraging data and we plan to commence registration-directed clinical trials in LGSOC and KRASmt NSCLC by the end of 2020.”
MTS Health Partners, L.P and Ropes & Gray LLP acted as advisors to Verastem Oncology on this transaction.
About VS-6766
VS-6766 (formerly known as CH5126766, CKI27 and RO5126766) is a unique inhibitor of the RAF/MEK signaling pathway. In contrast to other MEK inhibitors in development, VS-6766 blocks both MEK kinase activity and the ability of RAF to phosphorylate MEK. This unique mechanism allows VS-6766 to block MEK signaling without the compensatory activation of MEK that appears to limit the efficacy of other inhibitors.
its recovering nicely. next leg up coming
Kevin_Wolcott
3m
$VSTM ORR % dropped compared to what they reported in April. That's why it's down
67% > 41%
im seem to be the only one watching, but this is bouncing off the 10EMA 1.27 nicely here for the next leg up which it needed to do IMO. VSTM
the CC is GOOD! very positive results. bought more pre market. this will be at 4.00 again soon IMO. VSTM
Def little posters. Big money coming here. Price to book good. Pipeline coming. Could even buy a stage 1 and advance. Immu 30 years to get to market. 2.00 to 90 buyout. Sick
hahahahaha ok! im getting more here at 1.37 btw. new support IMO
Ahh mixed up the dates it’s tomorrow morning
didnt get a chance. you? VSTM
You tune in for the conference call?
im surprised almost no posters here! this is going back over 2.00 soon IMO. VSTM
New Results Evaluating Combination of VS-6766 and Defactinib to be Presented at the 2nd Annual RAS-Targeted Drug Development Summit
Management to Host Investor Conference Call and Webcast on Wednesday, September 16 at 8:00 AM ET
Looks like today might be the day we reverse fingers
They are fundamentally toast after the botched clinical findings release...will be lucky to stay above $1 at this point.
Nine biopharma CEOs pledge to make safety the main focus in coronavirus vaccine development
hopefully this news will spark bios!
wtf! is there ANYONE here interested in this thing anymore? VSTM
ahhh so quiet. buying more here at 1.27 for the push to 3.00 VSTM
this could be a serious indicator of a directional change. if this is above 1.30 by end of week(which i suspect for certain) this could be over 2.00 next IMO. VSTM
most likely a purchase
someone traded 3,878,895 in a block trade at 1.17
earlier today, afternoon
if this is at 1.30 or higher by end of week, that would signal a hard turnaround. lets watch and see. VSTM
Absolutely. I imagine they are dumping shares for this price decline.
IMO, its MM manipulation! I called IR. SS hasnt changed. Noone in the company is selling. Company just got a big cash infusion and will be settled mid Sept. This is a GOOD company . VSTM
someone is dumping shares.. why, no know.
im so taken back my this MM manipulation! this should be at 3.00! anyone?
this MM manipulation on this WAY oversold gem of a company is almost criminal. thoughts anyone? VSTM
no worries. i talked with IR this morning and love my investment now. were good! his name is bob doyle.
Yes, a real pizz off !!
i talked to Bob Doyle IR/finance guy. I loved everything i heard about the amount of cash that they have, their unchanged SS , and their future cash infusion, and the fact that the only convertible debt they have is due all the way in 2022. VSTM
i analyzed this c9mpany. reading filings. looking at SS. look8ng at chart. THIS SHOULD BE A 7.00 STOCK!
that's what i been saying!
doesnt make sense. im bidding 16000 yet the bid only shows 15600 huh?
why would trump have ANYTHING to do w this little company!?
long term yes.
All ears and eyes on Trump at 5:30pm
will they mention
Remdesivir + VS-6766
$GILD $VSTM
is that good for us?
Details of the agreement with Secura Bio on August 10th
Perhaps this is why the the stock didn't move. The deal is spread out. They are burning 13m/Qtr or 52m/yr
Secura Bio has agreed to pay the Company an up-front payment of $70.0 million in cash payable at the closing of the Transaction
After the Closing regulatory milestone payments of $35.0 million upon receipt of regulatory approval of COPIKTRA in the United States for the treatment of peripheral T-cell lymphoma
Payent of $10.0 million upon receipt of the first regulatory approval for the commercial sale of COPIKTRA in the European Union for the treatment of peripheral T-cell lymphoma.
Sales milestone payments consisting of $10.0 million when total worldwide net sales of COPIKTRA exceed $100.0 million,
$15.0 million when total worldwide net sales of COPIKTRA exceed $200.0 million
$25.0 million when total worldwide net sales of COPIKTRA exceed $300.0 million,
low double-digit royalties on the annual aggregate net sales above $100.0 million in the United States and Europe
50% of all royalty, milestone and sublicense revenue payments payable to Secura Bio under the Company’s existing license agreements with Sanofi, Yakult Honsha Co., Ltd. and CSPC Pharmaceutical Group Limited, each of which will transfer to Secura Bio at the Closing.
50% of all royalty and milestone payments payable to Secura Bio under any license or sublicense agreement entered into by Secura Bio after the Closing in certain jurisdictions.
with a lot of luck needed. Maybe this is what Trump will mention Sunday night.
Remdesivir + VS-6766
$GILD+$VSTM
THATS A GREAT THING RIGHT? VSTM
None of the analysts have reported since the cash deal. They are supposed to be independent from the Finance Brokers part of their business. The Brokers sell stock for their clients. Since VSTM doesn't need cash until 2023, the brokers don't have any deals.
what do you mean?
since they won't need to raise any more money from dilution, the analysts don't seem to care anymore
BTIG, LLC Robert Hazlett
Cantor Fitzgerald Alethia Young
H.C. Wainwright Swayampaukula Ramakanth, Ph.D.
yes. one HAS to believe this will be back in the $4.00 range IMO. VSTM
We need news. They have something in the works im sure with all that money on balance sheet niw
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