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That's the old Management I remember. Nice deal

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Verastem Oncology to Announce Third Quarter 2019 Financial Results and Corporate Update on October 29, 2019 Business Wire - 10/17/2019 7:00:00 AM
Verastem Oncology Announces Dosing of First Patient in Yakult Honsha Co., Ltd.’s Japanese Bridging Study Evaluating COPIKTR... Business Wire - 10/7/2019 7:00:00 AM
Verastem Oncology Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4) Business Wire - 10/4/2019 7:00:00 AM
Verastem Oncology Receives Orphan Drug Designation from FDA for COPIKTRA for the Treatment of T-Cell Lymphoma Business Wire - 10/3/2019 2:25:00 PM
Verastem Oncology Presents New Preclinical Duvelisib Data at the 5th International Conference on New Concepts in Lymphoid Mal... Business Wire - 10/3/2019 7:00:00 AM
Verastem Oncology to Present at the Cantor 2019 Global Healthcare Conference Business Wire - 9/26/2019 7:00:00 AM
Verastem Oncology Announces COPIKTRA™ (Duvelisib) Presentations at the 18th Annual International Workshop on Chronic Lympho... Business Wire - 9/20/2019 1:00:00 PM
Verastem Oncology to Present at the 21st Annual H.C. Wainwright Global Investment Conference Business Wire - 9/3/2019 4:05:00 PM
Verastem Oncology Announces COPIKTRA™ (Duvelisib) Presentations at the Society of Hematologic Oncology 2019 Annual Meeting Business Wire - 9/3/2019 7:00:00 AM
Quarterly Report (10-q) Edgar (US Regulatory) - 8/1/2019 5:09:51 PM
Current Report Filing (8-k) Edgar (US Regulatory) - 8/1/2019 4:06:59 PM
Verastem Oncology Reports Second Quarter 2019 Financial Results and Highlights Recent Company Progress Business Wire - 8/1/2019 4:05:00 PM
Statement of Changes in Beneficial Ownership (4) Edgar (US Regulatory) - 7/31/2019 7:43:39 PM
Current Report Filing (8-k) Edgar (US Regulatory) - 7/29/2019 4:17:25 PM
Verastem Oncology Appoints Brian Stuglik as Chief Executive Officer Business Wire - 7/29/2019 4:05:00 PM
Verastem in Licensing Agreement with Sanofi; Shares Up Dow Jones News - 7/25/2019 5:31:00 PM
Verastem Oncology Signs an Exclusive License Agreement with Sanofi for the Development & Commercialization of COPIKTRA® (duv... Business Wire - 7/25/2019 4:05:00 PM
Verastem Oncology to Announce Second Quarter 2019 Financial Results and Corporate Update on August 1, 2019 Business Wire - 7/25/2019 7:00:00 AM
Amended Statement of Ownership (sc 13g/a) Edgar (US Regulatory) - 7/10/2019 4:29:18 PM
Verastem Oncology Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4) Business Wire - 7/3/2019 7:00:00 AM
Current Report Filing (8-k) Edgar (US Regulatory) - 6/25/2019 5:12:40 PM
Verastem Oncology Presents COPIKTRA™ (Duvelisib) Data in Peripheral T-Cell Lymphoma at the 2019 International Conference on... Business Wire - 6/21/2019 7:00:00 AM
Verastem Oncology Announces Leadership Changes Business Wire - 6/20/2019 7:00:00 AM
Verastem Oncology Presents COPIKTRA™ (Duvelisib) Data at the European Hematology Association 2019 Annual Meeting Business Wire - 6/17/2019 7:00:00 AM
Verastem Oncology to Present at the Jefferies 2019 Global Healthcare Conference Business Wire - 5/30/2019 7:00:00 AM
stockguard   Tuesday, 04/23/19 06:22:01 PM
Re: None
Post # of 464 
That's the old Management I remember. Nice deal to have the time to properly introduce Copiktra to the market while waiting for countries to open up and monies to continue the ongoing trials.

Verastem Oncology Announces Amendment to Refinance Hercules Loan Facility

New Terms Provide for Lower Interest Rate and Longer Interest-Only Payment Period

BOSTON--(BUSINESS WIRE)-- Verastem, Inc. (VSTM) operating as Verastem Oncology, (or the “Company”), focused on developing and commercializing medicines seeking to improve the survival and quality of life of cancer patients, today announced its entry into an amendment (the “Fourth Amendment”) to its existing Loan and Security Agreement with Hercules Capital, Inc. (HTGC) (“Hercules”), changing certain terms of the agreement and increasing the borrowing limit from $50 million to $75 million in financing. The increased loan facility proceeds will be available for the ongoing launch of COPIKTRA™ in the U.S., the Company’s other ongoing development programs, and for general corporate purposes, subject to certain conditions of funding.

“We are extremely pleased to execute this new amendment with Hercules as it effectively refinances our existing loan and implements more favorable terms which we believe are more in line with a commercial stage financing arrangement, including a lower overall interest rate and an extended repayment timeline,” said Rob Gagnon, Chief Financial Officer of the Company. “Collectively, the new terms provide greater financial flexibility as we continue to execute on the commercial rollout of COPIKTRA and advance our other pipeline programs. We are fortunate to have such a strong partnership with Hercules, and we appreciate their willingness to work with us to reframe the structure of earlier terms in a way that is helpful to the Company and its stakeholders.”

Under the prior agreement, the term loan provided for interest-only payments until May 1, 2019. Thereafter, amortization payments were to be payable monthly in twenty installments of principal and interest. Under the Fourth Amendment, the term loan will now mature on December 1, 2022 and provides for interest-only payments until April 1, 2021, which may be extended pursuant to the achievement of certain revenue metrics. In addition, this amendment lowers the interest rate by 175 basis points.

Per the terms of the Fourth Amendment, the Company may borrow up to an aggregate amount of $75.0 million, of which $35.0 million was outstanding as of the date of the Fourth Amendment (as a result of the $25.0 million of outstanding principal under the prior agreement and an additional $10.0 million being drawn by the Company on the date of the Fourth Amendment). The remaining $40.0 million of borrowing capacity may be drawn in multiple tranches, including $15.0 million upon Verastem Oncology generating certain pre-specified cumulative net product revenues, and $25.0 million available through December 31, 2021, subject to Hercules’ approval and certain pre-specified conditions.

https://seekingalpha.com/pr/17485248-verastem-oncology-announces-amendment-refinance-hercules-loan-facility

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