Verastem Inc (NASDAQ:VSTM) is trading higher in the pre-market session on Monday after the news.
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.
|SHARES OUTSTANDING||171.92 M|
|SHARE FLOAT (%)||169.29 M (98.47%)|
|% HELD BY INSTITUTIONS||60.24|
Recent Stock Performance
|+/- EMA(20)||2.97 (+7.41%)|
|+/- SMA(50)||2.73 (+16.85%)|
|+/- SMA(200)||2.03 (+57.14%)|
|CCI20||161.1150||Buy||Chaikin Money Flow||0.2798||Buy|
|MACD||0.1107||Buy||Money Flow Index||61.4093||Buy|
|STOCH (14,3)||83.0508||OverBought||STOCH RSI||1.0000||OverBought|