BOSTON--(BUSINESS WIRE)--Dec. 15, 2017--
Verastem, Inc., (NASDAQ: VSTM), focused on discovering and developing
drugs to improve the survival and quality of life of cancer patients,
today announced the pricing of its previously announced underwritten
public offering of approximately $25 million of shares of its common
stock. All of the shares to be sold in the offering are to be sold by
BTIG, LLC is acting as sole book-running manager for the offering. The
offering is expected to close on or about December 19, 2017, subject to
customary closing conditions.
A shelf registration statement on Form S-3 relating to the public
offering of the shares of common stock described above was declared
effective by the Securities and Exchange Commission (the “SEC”) on April
24, 2017. Before you invest, you should read the prospectus in the
registration statement and related preliminary prospectus supplement
that Verastem has filed with the SEC for more complete information about
Verastem and this offering. An electronic copy of the preliminary
prospectus supplement and accompanying prospectus relating to the
offering is available on the website of the Securities and Exchange
Commission at www.sec.gov.
Copies of the final prospectus supplement and accompanying prospectus
relating to the offering may be obtained, when available, by contacting
BTIG, LLC, at 825 Third Avenue, 6th Floor, New York, NY, 10022, or by
telephone at (212) 593-7555 or by e-mail at firstname.lastname@example.org.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there be any
sale of these securities in any state or other jurisdiction in which
such offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
state or other jurisdiction.
About Verastem, Inc.
Verastem, Inc. (NASDAQ:VSTM) is a biopharmaceutical company focused on
discovering and developing drugs to improve outcomes for patients with
cancer. Verastem is currently developing duvelisib, a dual inhibitor of
PI3K-delta and PI3K-gamma, which has successfully met the primary
endpoints in both a Phase 2 study in double-refractory iNHL and a Phase
3 clinical trial in patients with relapsed/refractory CLL/SLL. In
addition, Verastem is developing the FAK inhibitor, defactinib, which is
currently being evaluated in three separate clinical collaborations in
combination with immunotherapeutic agents for the treatment of several
different cancer types, including pancreatic, ovarian, non-small cell
lung cancer, and mesothelioma. Verastem’s product candidates seek to
treat cancer by modulating the local tumor microenvironment, enhancing
anti-tumor immunity and reducing cancer stem cells.
Certain of the statements made in this press release, including those
relating to Verastem’s public offering, are forward-looking statements.
Each forward-looking statement is subject to risks and uncertainties
that could cause actual results to differ materially from those
expressed or implied in such statement. Applicable risks and
uncertainties include, without limitation: our ability to successfully
complete the offering on terms and conditions satisfactory to us; the
possible adverse impact on the market price of our shares of common
stock due to the dilutive effect of the securities to be sold in the
offering; capital market risks; and the impact of general economic or
industry conditions. There can be no assurance that we will be able to
complete the public offering on the anticipated terms, or at all. You
should not place undue reliance on these forward-looking statements,
which apply only as of the date of this press release. Other risks and
uncertainties include those identified in Verastem’s Annual Report on
Form 10-K for the year ended December 31, 2016 and any subsequent SEC
filings, including the registration statement and prospectus supplement
related to the offering. The forward-looking statements contained in
this press release reflect Verastem’s views as of the date of this
release, and Verastem does not undertake and specifically disclaims any
obligation to update any forward-looking statements.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171215005394/en/
Source: Verastem, Inc.
Brian Sullivan, 781-292-4214