Verastem Inc (NASDAQ:VSTM) Stock Jumps In pre-Market After The News

Verastem Inc (NASDAQ:VSTM) is trading higher in the pre-market session on Monday after the news.

Market Action

As of 8:05, VSTM stock is trading higher by 5.52% to $1.91 in the pre-market session with more than 690K shares have traded hands.

VSTM Releases News Today

Verastem Oncology Receives Breakthrough Therapy Designation for VS-6766 with Defactinib in Recurrent Low-Grade Serous Ovarian Cancer

  • VSTM today announced that the U.S. Food and Drug Administration (FDA) granted Breakthrough Therapy designation for the combination of its investigational RAF/MEK inhibitor VS-6766, with defactinib, its FAK inhibitor, for the treatment of all patients with recurrent low-grade serous ovarian cancer (LGSOC) regardless of KRAS status after one or more prior lines of therapy, including platinum-based chemotherapy.
  • The combination of VS-6766 with defactinib is being evaluated in the ongoing investigator-initiated Phase 1/2 FRAME trial. In the most recent read-out from the FRAME LGSOC cohort (n=24), the overall response rate (ORR) is 52% (11 of 21 response evaluable patients), with KRAS mutant ORR at 70% (7 of 10 response evaluable patients), KRAS wild-type ORR at 44% (4 of 9 response evaluable patients) and KRAS status undetermined ORR at 0% (0 of 2 response evaluable patients).
  • The most common side effects seen in the study were rash, creatine kinase elevation, nausea, hyperbilirubinemia and diarrhea, most being NCI CTC Grade 1/2 and all were reversible. Several patients have been on therapy for more than one year, indicating the potential for a long duration of benefit.

Trader Notes

Share Information

SHARE FLOAT (%)169.29 M (98.47%)

Recent Stock Performance

5-DAY PERF.+8.50%
1-MONTH PERF.+13.12%
3-MONTH PERF.+13.93%
6-MONTH PERF.+115.54%
YTD PERF.+49.77%
1-YEAR PERF.+64.43%

Moving Averages

+/- EMA(20)2.97 (+7.41%)
+/- SMA(50)2.73 (+16.85%)
+/- SMA(200)2.03 (+57.14%)

Pivot Points

NameS3S2S1Pivot PointsR1R2R3

Technical Indicators

CCI20161.1150BuyChaikin Money Flow0.2798Buy
MACD0.1107BuyMoney Flow Index61.4093Buy
STOCH (14,3)83.0508OverBoughtSTOCH RSI1.0000OverBought
UO57.6511BuyWilliams %R-16.9492OverBought

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