Verastem Q3 adjusted loss widens on increased R&D expenses
VSTM•Verastem’s third-quarter adjusted loss per share widened to $0.72, missing the $0.46 analyst estimate, while net product revenue more than doubled year over year to $24 million. The company expects cash to last into the first half of 2028.
1. Quarterly results
Verastem reported a third-quarter net loss of $74.72 million and an adjusted loss per share of $0.72, compared with the $0.46 analyst consensus. Net product revenue more than doubled year over year to $24 million.
2. Spending and outlook
The company attributed higher research and development expenses to increased investigator fees, manufacturing, contract research organization and personnel costs, including stock-based compensation. Verastem said it expects cash runway into the first half of 2028, an FDA decision on AVMAPKI FAKZYNJA CO-PACK by February 7, 2027, and plans to open the Phase 3 TARGET-D 301 trial by year-end 2026.
