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News Breaks
July 10, 2014
16:09 EDTVSTMVerastem says lead cancer stem cell inhibitor VS-6063 continues to show promise
Verastem hosted its annual Research and Development Day, at which it reports it said, "We continue to see promising clinical signals from the VS-6063 program. An additional partial response has been reported since our interim report at ASCO on the combination of VS-6063 and weekly paclitaxel in twenty-two patients with ovarian cancer. To date, best clinical response of at least stable disease has been observed in 14 of the 22 patients. This comprises two complete responses, three partial responses and nine patients with stable disease, including four patients whose disease has been stable for 6 months or longer. Eight patients continue on study drug. Based on this encouraging activity, we are planning a controlled Phase 2 study in patients with platinum resistant ovarian cancer. The company also noted that it has made "significant progress in the past 12 months and have continued to further scientific understanding with all of our product candidates." Encouraged by these initial signs of clinical activity, the company reported it is adding additional studies to further test its hypothesis that the targeting of cancer stem cells may enable a more durable clinical response.
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July 2, 2015
10:38 EDTVSTMFly Watch: Biotech sector events to watch for this summer
Three key events in the biotech sector are slated to occur this summer, Mizuho Securities previewed in a note to investors today. Namely, data from Clovis Oncology's (CLVS) lung cancer treatment is expected to be released, interim data for Verastem's (VSTM) cancer treatment could be unveiled and the PDUFA date for Tesaro's (TSO) rolapitant drug for chemotherapy-induced nausea and vomiting will occur. A PDUFA date is the day on which the FDA is expected to decide whether to approve a drug. WHAT'S NEW: Data for Clovis' rociletinib lung cancer treatment is expected by the firm to be released September 6-9, Mizuho analyst Peter Lawson wrote. Favorable data could result in the the drug more quickly becoming the first treatment option after it hits the market, the analyst stated. Interim data for Verastem's cancer treatment product, defactinib, will have one of three outcomes, Lawson forecast: additional patients will be enrolled in the study, the study will be terminated due to poor results or the patients in the study with low levels of a tumor suppressor gene product called Merlin will be enriched for Merlin. According to Lawson, expectations heading into the trial are low, and the most likely outcome is that the Merlin enrichment scenario will occur. If this scenario does occur, Verastem's stock will probably temporarily fall, potentially creating a better entry point, Lawson believes. The PDUFA date for Tesaro's rolapitant drug is September 5, the analyst stated. The analyst kept a $103 price target and Buy rating on Clovis, a $67 price target and Buy rating on Tesaro and a $21 price target and Buy rating on Verastem. PRICE ACTION In early trading, Clovis fell 2.2% to $83.98, Verastem retreated 2.3% to $6.96 and Tesaro dropped 1.7% to $55.80.
June 29, 2015
07:36 EDTVSTMVerastem coverage assumed with a Buy at H.C. Wainwright
Target $17.

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