Verastem Oncology Launches Public Offering Worth $85 Million to Fight Cancer

Verastem Oncology, a biopharmaceutical company dedicated to developing innovative treatments for cancer patients, has announced the pricing of an underwritten public offering of 7,181,409 shares of its common stock at a price of $9.75 per share. In addition, certain investors may purchase pre-funded warrants to acquire up to 1,538,591 shares of the company’s common stock at a price of $9.749 per warrant, representing the per share public offering price for the common stock less the $0.001 per share exercise price.

The underwriters have been provided with a 30-day option to purchase up to an additional 1,308,000 shares of the company’s common stock at the public offering price. The offering is expected to close on June 21, 2023, is expected to bring in gross proceeds of approximately $85.0 million, and is subject to customary conditions.

RBC Capital Markets and Cantor are teaming up to lead the underwriters of the upcoming offering, with BTIG taking on the role of lead manager. Bringing additional strength to the enterprise, H.C. Wainwright & Co. and A.G.P./Alliance Global Partners have joined forces as co-managers.

Verastem Oncology is using the net proceeds from its public offering to further develop its product candidates, launch avutometinib and defactinib in low-grade serous ovarian cancer, and provide working capital and other essential corporate support. With these funds, Verastem Oncology is committed to making advancements in cancer research and treatments as they continue their mission to improve the lives of those affected by this dreaded disease.

Ready to invest in Verastem Oncology? Before you take the plunge, be sure to read the documents that the company has filed with the U.S. Securities and Exchange Commission (SEC). The registration statement on Form S-3 relating to the public offering of the securities was declared effective by the SEC on April 6, 2022.

Have a look at the preliminary prospectus supplement, the accompanying base prospectus, and the related registration statement to get a better understanding of the public offering and its terms. Don’t miss out on this chance to invest in a potentially lucrative opportunity!

Investors have the opportunity to purchase these securities, however, the sale of these securities is subject to compliance with the securities laws of the applicable state or jurisdiction. There can be no guarantee or assurance that any offer, solicitation, or sale of securities will be successful or meet any requirements for qualification.

About Verastem Oncology

Verastem Oncology (Nasdaq: VSTM) is devoted to discovering and developing new treatments for fighting cancer. Our revolutionary pipeline of small molecule drugs targets specific signaling pathways in cancer cells to stop tumor growth, and uses RAF/MEK inhibition and focal adhesion kinase (FAK) inhibition to significantly improve the lives of cancer patients. We are proud to lead the way in cutting-edge cancer treatments and look forward to continued progress in the fight against this devastating disease.

Forward-looking statements:

The possibilities are bright for Verastem Oncology’s upcoming public offering, but investors should be mindful of the factors contibuting to the offering’s success. The offering could be positively impacted by economic and general industry conditions, but could also be adversely affected by damaging capital market risks.

Other risks include the potential dilutive effect of the securities being sold as part of the offering, which could have an unfavorable impact on the market price of Verastem Oncology’s common stock. While we hope to complete the offering on the timeline and with satisfactory terms, there is no guarantee that we will be able to do so. Verastem Oncology encourages investors to remain diligent and to familiarize themselves with the risks and uncertainties associated with the offering, as outlined in our Annual Report and subsequent SEC filings.

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