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Pipeline (5 active programs)

Discontinued (1)

• avutometinib — Non-Small Cell Lung Cancer · discontinued RAMP 203 to focus resources on VS-7375 development; evolving treatment landscape for KRAS G12C inhibitors

Capital (as filed)

Cash

$173M cash and cash equivalents · Sep 30, 2026 (10-Q)

Operating cash flow

−$33.6M quarter Jun 30, 2026 → Sep 30, 2026, year-to-date difference (10-Q)

As stated in coverage

$173M cash per the update of Oct 14, 2026 — the company's own words as read there, not the filed figure

Offering documents (2)

• 2026-11-05 S-3ASR · Shelf registration up to $100M aggregate
• 2026-10-14 424B5 · Priced offering 30.9M shares · at $8.00 · $250M gross · 7.4% above the prior close ($7.45, Oct 13, 2026) · incl. pre-funded warrants

Cash, investments and operating cash flow are the company's own XBRL facts as filed with the SEC, each shown with its period end and tag. As-stated figures come from the company's own words as read in Biotech Distilled coverage, dated, and routinely count securities and planned financing that a balance sheet does not. Offering rows are the SEC cover pages as filed. Not investment advice. Figures as of Nov 7, 2026.

Biotech Distilled coverage (3)

• 2026-10-15 UPDATE: Verastem Oncology (VSTM) - Confirmed RECIST, and Then the Check 🔒 Paid
• 2026-08-07 UPDATE: Verastem Oncology (VSTM) - The Dilution Gap Gets Papered Over 🔒 Paid
• 2026-07-20 Verastem Oncology (VSTM) — Scientific Deep Dive for AVMAPKI FAKZYNJA CO-PACK (Avutometinib + Defactinib) and VS-7375 (Oral KRAS G12D) 🔒 Paid

Articles open on Substack. Some are subscriber-only; those marked ★ Distilled Pro are for Distilled Pro members.

Verdict history (3 calls)

Every verdict Biotech Distilled has published on Verastem, oldest first — the full history, never a selection. How calls are scored: the track record.

1. 2026-07-20 Watch Verastem Oncology (VSTM) — Scientific Deep Dive for AVMAPKI FAKZYNJA CO-PACK (Avutometinib + Defactinib) and VS-7375 (Oral KRAS G12D) Real approved franchise and elite smart-money ownership keep it off the scrap heap, but active going-concern flag and VS-7375 racing a Phase-3-validated competitor in its flagship indication keep it off the buy list pending a balance-sheet fix and hard RECIST data.
2. 2026-08-07 Speculative buy speculative UPDATE: Verastem Oncology (VSTM) - The Dilution Gap Gets Papered Over The first named gate (balance-sheet fix) is substantially cleared via $90M of non-dilutive capital and a +34% sequential revenue jump, making a small sized-for-total-loss position reasonable ahead of the October VS-7375 RECIST catalyst, while the going-concern flag and absent RECIST data keep it speculative.
3. 2026-10-15 Buy core UPDATE: Verastem Oncology (VSTM) - Confirmed RECIST, and Then the Check Both named gates cleared — confirmed US RECIST responses (41% cORR in 2L+ pancreatic, 50% in 2L) competitive with zoldonrasib, and ~$407M pro forma cash removing the going-concern overhang — upgrade to BUY despite 34% dilution, a co-pack that went backward in Q3, and a randomized OS-proven competitor still ahead.

• Long call · opened Aug 7, 2026 at $6.74 · +24.8% vs XBI -3.3% (Nov 6, 2026)

Every verdict Biotech Distilled has published on this company, in order, with the post it came from — the full history, never a selection. Position figures are the same ones shown on /track-record, computed by the same method. Editorial opinion, not investment advice.

Filings & releases (32)

SEC filings from EDGAR and press releases captured from the company's investor-relations site, newest first. Releases captured from Jul 23, 2026; filings from March 2026. Summaries come from the BD update that read the document; "BD extracted" counts point at the pipeline table above. All companies →

• Nov 5, 2026S-3ASRAutomatic shelf registration
• Nov 5, 2026ReleaseVerastem Oncology Reports Third Quarter 2026 Financial Results and Highlights Recent Business Updates
• Nov 5, 20268-KCurrent report: Reg FD disclosure · EX-99.1 EXHIBIT 99.1
• Nov 5, 202610-QQuarterly report
• Nov 2, 2026ReleaseVerastem Oncology to Participate in Upcoming November Investor Conferences
• Oct 22, 2026ReleaseVerastem Oncology to Report Third Quarter 2026 Financial Results on November 5, 2026
• Oct 14, 2026ReleaseVerastem Oncology Announces Planned Chief Executive Officer Transition and Succession Plan→ BD updateSummary on the 8-K
• Oct 14, 2026ReleaseVS-7375 Demonstrates Robust Anti-Tumor Activity Across Advanced KRAS G12D-Mutant Cancers, Highlighted by 50% Confirmed ORR in 2L Pancreatic Ductal Adenocarcinoma and Two Complete Responses in 2L+ Dise→ BD updateSummary on the 8-K
• Oct 14, 2026ReleaseVerastem Oncology Announces Pricing of $250 Million Offering of Common Stock and Pre-Funded Warrants→ BD updateSummary on the 8-K
• Oct 14, 20268-KCurrent report: other events→ BD updateVerastem's first multi-tumor VS-7375 data update delivered the confirmed US RECIST responses the thesis demanded — 41% cORR in 2L+ PDAC including complete responses, 43% cORR in 2L+ NSCLC — while a $250M equity offering and FDA-aligned Phase 3 design together clear the two named gates that kept VSTM on the Watch List.BD extracted 1 program update from this document → VSTM pipeline
• Oct 14, 20268-KCurrent report: results of operations, officer / director change, Reg FD disclosure · EX-99.1 EXHIBIT 99.1→ BD updateSummary on the 8-K
• Oct 14, 2026424B5Prospectus supplement (offering)→ BD updateSummary on the 8-K
• Oct 14, 2026424B5Prospectus supplement (offering)→ BD updateSummary on the 8-K
• Oct 2, 2026ReleaseVerastem Oncology Announces New RAMP 201 Molecular Profiling and External Control Arm Analyses Describing Outcomes for Avutometinib Plus Defactinib in Recurrent Low-Grade Serous Ovarian Cancer to be PBD extracted 1 program update from this document → VSTM pipeline
• Sep 28, 2026ReleaseVerastem Oncology Announces Publication in Gynecologic Oncology of Two-Year Median Follow-Up Data from RAMP 201 Study of AVMAPKI® FAKZYNJA® CO-PACK (avutometinib capsules; defactinib tablets) in RecurBD extracted 1 program update from this document → VSTM pipeline
• Sep 24, 2026ReleaseVerastem Oncology Announces Late-Breaking Oral Presentation of RAMP 201 Low-Grade Serous Ovarian Cancer Molecular Profiling and Tumor Biomarker Analysis at IGCS 2026 Annual Global MeetingBD extracted 1 program update from this document → VSTM pipeline
• Sep 8, 2026ReleaseVerastem Oncology to Unveil New Clinical Data Highlighting the Best-in-Class Potential of VS-7375, an Oral KRAS G12D (ON/OFF) Inhibitor, Across Pancreatic, Lung, and Colorectal Cancers
• Sep 2, 2026ReleaseVerastem Oncology to Participate in Upcoming September Investor Conferences
• Aug 7, 20268-KCurrent report: material agreement, debt / obligation, Reg FD disclosure · EX-99.1 EXHIBIT 99.1
• Aug 6, 2026ReleaseVerastem Oncology Reports Second Quarter 2026 Financial Results and Highlights Recent Business UpdatesBD extracted 2 program updates from this document → VSTM pipeline
• Aug 6, 20268-KCurrent report: results of operations · EX-99.1 EXHIBIT 99.1
• Aug 6, 202610-QQuarterly report
• Jul 28, 2026ReleaseVerastem Oncology Doses First Patient in TARGET-D 203 Phase 2 Registration-Directed Trial of VS-7375 Oral KRAS G12D (ON/OFF) Inhibitor for KRAS G12D-Mutated Metastatic Colorectal Cancervia aggregator
• Jul 23, 2026ReleaseVerastem Oncology to Report Second Quarter 2026 Financial Results on August 6, 2026
• Jun 23, 20268-KCurrent report: Reg FD disclosure, other events · EX-99.1 EXHIBIT 99.1
• Jun 17, 20268-KCurrent report: Reg FD disclosure, other events · EX-99.1 EXHIBIT 99.1
• May 26, 20268-KCurrent report: shareholder vote
• May 7, 20268-KCurrent report: Reg FD disclosure · EX-99.1 EXHIBIT 99.1
• May 7, 202610-QQuarterly report
• Apr 9, 2026DEF 14AProxy statement
• Mar 4, 20268-KCurrent report: Reg FD disclosure · EX-99.1 EXHIBIT 99.1
• Mar 4, 202610-KAnnual report