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Tuesday, December 15, 2015 10:22:09 AM
I added another chunk of shares this morning.
From the recent Q-filing:
OVERVIEW
We are a biopharmaceutical company focused on discovering and developing drugs to treat cancer by the targeted killing of cancer stem cells. A cancer stem cell is a particularly aggressive type of tumor cell, resistant to conventional cancer therapy, that we believe is an underlying cause of tumors, their recurrence and metastasis. Our most advanced programs target the Focal Adhesion Kinase (FAK) and the PI3K/mTOR signaling pathways. Our lead FAK inhibitor, VS-6063, has been assigned defactinib as the United States Adopted Name (USAN). VS-6063 is currently in a Phase 2 study in patients with non-small cell lung cancer, a Phase 2 trial preceding surgery in mesothelioma, a Phase 1b trial in combination with weekly paclitaxel for patients with ovarian cancer, and a combination trial of VS-6063 and VS-5584 in patients with relapsed mesothelioma.
On September 28, 2015, we stopped enrollment in our Phase 2 registration-directed, double-blind, placebo-controlled study (COMMAND) of VS-6063 for patients with mesothelioma. The decision to stop enrollment for futility followed a Data Safety Monitoring Board (DSMB) review of a pre-planned interim analysis. The results of the analysis demonstrated that VS-6063 had a generally well tolerated safety profile but that there was not a sufficient level of efficacy to warrant continuation of the study.
Our operations to date have been organizing and staffing our company, business planning, raising capital, acquiring and developing our technology, identifying potential product candidates and undertaking preclinical studies and clinical trials for our product candidates. To date, we have not generated any revenues and have financed our operations with net proceeds from the private placement of our preferred stock, our initial public offering in February 2012, our follow-on offerings in July 2013 and January 2015 and sales of our common stock under our at-the-market equity offering program.
As of September 30, 2015, we had an accumulated deficit of $187.0 million. We had net losses of $46.0 million and $39.4 million for the nine months ended September 30, 2015 and 2014, respectively.
http://secfilings.nasdaq.com/filingFrameset.asp?FileName=0001104659-15-076901%2Etxt&FilePath=%5C2015%5C11%5C09%5C&CoName=VERASTEM%2C+INC%2E&FormType=10-Q&RcvdDate=11%2F9%2F2015&pdf=
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