Verastem Oncology, a biopharmaceutical company focused on developing new cancer treatments, announced its intention to offer and sell shares of common stock and accompanying warrants to purchase common stock. The offering will also include pre-funded warrants, which can be purchased in place of common stock for certain investors, along with warrants to purchase additional shares. The offering is subject to market and other conditions, and there is no assurance of its completion or the final size and terms.
Guggenheim Securities and Cantor are acting as joint book-running managers for the offering.
Verastem Oncology plans to use the proceeds from the offering to fund the potential launch of avutometinib and defactinib for low-grade serous ovarian cancer (LGSOC), continue clinical research and development, and for general corporate purposes, including capital expenditures, clinical trial costs, and potential acquisitions.
A shelf registration statement on Form S-3 for the securities has been declared effective by the SEC. The offering will be made only through a prospectus and prospectus supplement that are part of the registration statement. Interested investors should read the preliminary prospectus supplement and accompanying base prospectus, available on the SEC website or through Guggenheim Securities and Cantor Fitzgerald.
This press release is not an offer to sell or a solicitation to buy these securities and is not permitted where it would be unlawful prior to registration or qualification under applicable securities laws.
Verastem Oncology (Nasdaq: VSTM) is a late-stage development biopharmaceutical company committed to the development and commercialization of new medicines to improve the lives of patients diagnosed with cancer. Our pipeline is focused on RAS/MAPK-driven cancers, specifically novel small molecule drugs that inhibit critical signaling pathways in cancer that promote cancer cell survival and tumor growth, including RAF/MEK inhibition and FAK inhibition.
