Verastem Q2 revenue jumps on new product sales and milestone
VSTM•Outlook and analyst coverage
The company expects updated VS-7375 clinical data in October 2026 and expects to complete enrollment in three Phase 2 trials by the end of 2026.
The current average analyst rating on the shares is "buy," with 9 "strong buy" or "buy" recommendations, no "hold" and no "sell" or "strong sell" ratings. The average consensus recommendation for the biotechnology and medical research peer group is "buy." Wall Street's median 12-month price target for Verastem Inc is $15.50, about 164.1% above its August 5 closing price of $5.87.
Operating costs rise as company extends cash runway
Operating expenses increased because of higher research and development spending and commercial operations costs.
Verastem entered into a $75 million royalty financing, which it said extends its cash runway into the second half of 2027.
Q2 revenue rises on new product sales and milestone payment
Verastem reported a sharp year-over-year rise in second-quarter revenue, driven by new product sales and a milestone payment.
The U.S. cancer drug maker posted a second-quarter net loss, while its non-GAAP adjusted net loss improved from the prior year.
