VSTM - Looking good here for 2015 imo!
Without a doubt, Verastem's biggest catalyst is a clinical trial called Command, testing VS-6063 in patients with mesothelioma, a form of lung cancer. The 350 to 400 patients expected to enroll in the trial have already responded to a combination of Eli Lilly's (NYSE: LLY ) Alimta and a platinum-based chemotherapy but haven't yet progressed following treatment.
Coming in as a closer -- if I can use a baseball analogy -- to finish off the remaining cells in the tumor is a smart move. Verastem doesn't have to compete directly with Eli Lilly and avoids the really hard-to-treat patients who might not respond to its treatment but doesn't have to wait for patients to progress like a typical second-line treatment.
While Command is only a phase 2 trial, it's designed to be sufficient to gain FDA approval given the unmet need in patients with mesothelioma.
Interim results for Command are expected in the middle of 2015. Management promised an update on the trial's enrollment at the research and development day, so perhaps that date could move up if enrollment is going well or maybe later if patients are responding better than expected. Investors should be careful interpreting a delay as good news, because interim data can also be delayed if the placebo group is living longer than the initial estimate or if enrollment is slower than expected.
Verastem is in a race with GlaxoSmithKline (NYSE: GSK ) , which also has a FAK inhibitor dubbed GSK2256098, so data that's quick and/or produces longer survival is welcome. GlaxoSmithKline's drug is still in phase 1 trials.
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