VSTM Stock — Verastem Inc.: Cash, EV, Pipeline

What they do

We are a biopharmaceutical company committed to developing and commercializing new medicines to improve the lives of patients diagnosed with challenging RAS/MAPK pathway-driven cancers. We market AVMAPKI FAKZYNJA CO-PACK (avutometinib capsules; defactinib tablets) in the United States (“U.S.”), the first treatment specifically FDA-approved for adults with KRAS-mutated recurrent low-grade serous ovarian cancer (“LGSOC”) who have received prior systemic therapy.

Source: 10-K FY2025 via SEC EDGAR

Share price

$8.41

Market cap

$1,021.1M

Cash

$172.8M

Enterprise value

$889.0M

Balance sheet

Cash	$172.8M
Debt	$40.7M
Net cash	$132.1M
Enterprise value	$889.0M
Basic shares	90.6M shares
Fully diluted shares	104.2M shares
Fully diluted market cap	$876.5M
Cash per share	$1.91
Quarterly burn	$43.9M
Cash runway	3.1 quarters

Cash figures as of 2026-09-30. Database snapshot: 2026-11-07.

Share structure

Common

90.6M

Pre-funded warrants

13.7M

Options

—

RSUs

—

Warrants

0.0M

Converts

0.0M

Conv preferred

0.0M

ESPP reserve

—

FDSO

104.2M

Cap table as of 2026-08-03.

Price history

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Next catalyst

avutometinib plus defactinib · Est. Jul 16, 2027 · guidance midpoint · guided in 7 mo

Recently reported

avutometinib (VS-6766) Phase 2 Mixed · 2026-10-02

Source release →

Avutometinib Phase 2 Positive · 2026-09-28

RAMP 201

Source release →

Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
GUIDEDEst. Jul 16, 2027 in 7 mo guidance midpoint	avutometinib plus defactinib Phase 3 RAMP 301 trial of avutometinib plus defactinib in recurrent low-grade serous ovarian cancer: primary endpoint topline readout · NCT06072781	Phase 3	recurrent low-grade serous ovarian cancer: primary endpoint readout	mid-2027
Jul 13 - Aug 24 in 8 mo	VS-7375	Phase 2	Pancreatic Ductal Adenocarcinoma (PDAC); G12D Mutated KRAS	October 2026
Jul 13 - Aug 24 in 8 mo	VS-7375	Phase 2	Non-Small Cell Lung Cancer	October 2026
Jul 13 - Aug 24 in 8 mo	VS-7375	Phase 2	Colorectal Cancer	October 2026
Sep 12 - Oct 24 in 10 mo	avutometinib	Phase 2	Low Grade Ovarian Serous Adenocarcinoma; Ovarian Cancer	—
Nov 26, 2028 - Jan 7, 2029 in 25 mo	avutometinib	Phase 3	Low Grade Serous Ovarian Cancer	—
Jan 11 - Feb 22 in 27 mo	Avutometinib	Phase 2	Gastric Cancer; Stomach Cancer	—
Jan 12 - Feb 23 in 27 mo	VS-7375	Phase 2	Pancreatic Ductal Adenocarcinoma; Non Small Cell Lung Cancer; Colorectal Cancer	October 2026

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

AVMAPKI FAKZYNJA CO-PACK

Approved · Active Modality: oral (capsules; tablets)

Target avutometinib: RAF/MEK; defactinib: focal adhesion kinase (FAK)

Partnerships Pfizer: license agreement (Jul 11, 2012) granting worldwide exclusive rights to FAK inhibitors including defactinib; Chugai Pharmaceutical: avutometinib license agreement; IQVIA: commercialization collaboration supporting the U.S. launch; PanCAN: grant supporting RAMP 205 sample collection and analysis

Indications

KRAS mutant recurrent low-grade serous ovarian cancer (LGSOC) after prior systemic therapy (Approved)
Pancreatic cancer (Phase 2)

Status note FDA approved May 8, 2025 for adult patients with KRAS mutant recurrent LGSOC who received prior systemic therapy; marketed in the United States. Phase 1b/2 RAMP 205 in pancreatic cancer ongoing with PanCAN grant support.

VS-7375

Stage not disclosed · Active Modality: oral

Target KRAS G12D (dual ON/OFF)

Partnerships GenFleet: collaboration and option agreement (Sep 2023) covering up to three oncology programs targeting RAS pathway-driven cancers; Verastem exercised its option for VS-7375 in Jan 2025 with a $6.0M payment; GenFleet retains China, Hong Kong, Macau and Taiwan

Indications

RAS pathway-driven cancers (Stage not disclosed)

Status note Selective oral KRAS G12D dual ON/OFF inhibitor.

Per-asset detail extracted from the 10-Q filed 2026-08-06. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	avutometinib
Lead indication	Low Grade Serous Ovarian Cancer
Lead phase	Phase 3
Active trials	10
Collaborator trials	13

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT06072781	Phase 3	Recruiting	Sponsor	VSTM	—	Low Grade Serous Ovarian Cancer	mid-2027 Est. Aug 31, 2027 · PCD + 6 wks (Aug 31-Aug 31)
NCT07644559	Phase 2	Recruiting	Sponsor	VSTM	—	Pancreatic Ductal Adenocarcinoma (PDAC); G12D Mutated KRAS	October 2026
NCT07659782	Phase 2	Recruiting	Sponsor	VSTM	—	Non-Small Cell Lung Cancer	October 2026
NCT07659795	Phase 2	Recruiting	Sponsor	VSTM	—	Colorectal Cancer	October 2026
NCT07747506	Phase 2	Not yet recruiting	Sponsor	VSTM	—	Low Grade Ovarian Serous Adenocarcinoma; Ovarian Cancer	—
NCT07020221	Phase 2	Recruiting	Sponsor	VSTM	—	Pancreatic Ductal Adenocarcinoma; Non Small Cell Lung Cancer; Colorectal Cancer	October 2026
NCT04625270	Phase 2	Active, not recruiting	Sponsor	VSTM	—	Low Grade Ovarian Serous Adenocarcinoma; Ovarian Cancer	October 2026
NCT06682572	Phase 2	Active, not recruiting	Sponsor	VSTM	—	Low Grade Serous Ovarian Cancer; Ovarian Cancer	—
NCT05074810	Phase 2	Active, not recruiting	Sponsor	VSTM	AMGN	Non Small Cell Lung Cancer; KRAS Activating Mutation	—
NCT05669482	Phase 2	Active, not recruiting	Sponsor	VSTM	—	KRAS Activating Mutation; Metastatic Cancer; Pancreas Cancer	—
NCT05787561	Phase 2	Recruiting	Collaborator	Memorial Sloan Kettering Cancer Center	—	Mesonephric Gynecologic Cancer	—
NCT06394804	Phase 2	Recruiting	Collaborator	Memorial Sloan Kettering Cancer Center	—	Low-Grade Serous Ovarian Cancer	—

Sponsor-matched active trials from ClinicalTrials.gov (10 as sponsor, 13 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 23 active trials for Verastem, Inc. on ClinicalTrials.gov

Specialist fund holders

Tracked specialist funds: ADAR1 Capital Management, Aisling Capital, Ally Bridge Group, Avoro Capital Advisors, BVF Partners, Baker Bros. Advisors, Boxer Capital, Braidwell LP, Casdin Capital, Cormorant Asset Management, DAFNA Capital, Deerfield Management, EcoR1 Capital, Frazier Life Sciences, Great Point Partners, Ikarian Capital, Logos Global Management, OrbiMed Advisors, Perceptive Advisors, RA Capital Management, RTW Investments, Sphera Biotech, Stonepine Capital, Tang Capital Partners, Vivo Capital.

Fund	Shares	Q/Q change	% of portfolio	Filing
RTW Investments	6,635,793	+59,487	0.22%	2026-08-14
Stonepine Capital	3,349,627	+47,327	9.74%	2026-08-17
Baker Bros. Advisors	2,499,338	+1,914,581	0.05%	2026-08-14
Sphera Biotech	632,632	+288,954	0.35%	2026-08-14
Ikarian Capital	213,865	no change	0.13%	2026-08-14
ADAR1 Capital Management	75,800	+4,700	0.01%	2026-08-14
Logos Global Management	0	-1,000,000	0.00%	2026-08-14

Specialist-fund positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

Latest news

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VSTM — Verastem Inc. ☆

What they do

Balance sheet

Share structure

Price history

Next catalyst

Recently reported

Upcoming catalysts

Pipeline assets

Pipeline

Active clinical trials

Specialist fund holders

Latest news

VSTM — Verastem Inc.