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This company completed an initial public offering (IPO) of its stock in 2010. View articles that reference this company. Recent IPOs: Globe Specialty Metals • LogMeIn • Invesco Mortgage Capital • Medidata • Chemspec |
Verastem (NASDAQ:VSTM) is a biopharmaceutical company which is developing small moleculre drugs to target cancer stem cells. The company believes that cancer stem cells are a key reason to the recurrence of tumors. These cells are resistant to chemotherapy and other cancer therapies. Verastem's drug will use small molecule compounds to directly target these cancer stem cells. [1]
Business Overview
Verastem is a prerevenue company. For the nine months ended in September of 2011, the company reported a net loss of $8M.[2]
New Updates
The company's initial public offering of stock on the NASDAQ occurred on January 26, 2012. The company offered 5.5M shares each for $10. This was within the $9-$11 initial price range. The deal raised a total of $55M. The lead mangers of the deal were UBS and Leerink Swann.[3]
Trends & Forces
A Prerevenue R&D
At the time of its IPO, Verastem was early in its drug development stage. As a result, the company will have to successfully discover, receive approval, and commercialize a drug based on the money it has. If it fails to do that, it will have to find some other way to generate a cash flow. Because a drug like the one Verastem plans to discover has never been commercialized it is unclear if it is possible or if the FDA would approve it.[4]
- ↑ VSTM S-1/A 2011 PROSPECTUS SUMMARY "Overiew" pg.1-2
- ↑ VSTM S-1/A 2011 PROSPECTUS SUMMARY "Selected financial data" pg.48
- ↑ Renaissance Capital - IPO Home "Verastem prices upsized IPO at $10 midpoint" Jan 26 2012
- ↑ VSTM S-1/A 2011 PROSPECTUS SUMMARY "Risk factors" pg.11
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