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VSTM

Verastem, Inc.

VSTM

Verastem, Inc. • NASDAQ
$10.64 ▲ 0.09% (+0.01)
Market Cap $644.13 M
52w High $11.25
52w Low $3.46
Dividend Yield 0%
P/E -2.49
Volume 649.95K
Outstanding Shares 60.54M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $11.242M ▲ $50.287M ▲ $-98.518M ▼ -876.339% ▲ $-1.35 ▼ $-98.226M ▼
Q2-2025 $2.137M ▲ $45.455M ▲ $-25.934M ▲ -1.214K% ▼ $-0.39 ▲ $-25.594M ▲
Q1-2025 $0 $44.174M ▲ $-52.103M ▲ 0% $-0.96 ▲ $-51.901M ▲
Q4-2024 $0 $31.59M ▼ $-64.551M ▼ 0% $-1.7 ▼ $-63.213M ▼
Q3-2024 $0 $37.03M $-23.967M 0% $-0.6 $-22.812M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $137.706M ▼ $176.852M ▼ $192.378M ▲ $-15.526M ▼
Q2-2025 $164.322M ▲ $196.264M ▲ $160.208M ▼ $36.056M ▲
Q1-2025 $117.569M ▲ $131.698M ▲ $164.131M ▲ $-32.433M ▼
Q4-2024 $88.818M ▼ $101.538M ▼ $130.431M ▲ $-28.893M ▼
Q3-2024 $113.175M $126.378M $94.159M $32.219M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-98.518M ▼ $-36.216M ▼ $-8.279M ▼ $17.879M ▼ $-26.616M ▼ $-36.216M ▼
Q2-2025 $-25.934M ▲ $-32.663M ▲ $0 $79.416M ▲ $46.753M ▲ $-32.663M ▲
Q1-2025 $-52.103M ▲ $-38.676M ▼ $0 $67.427M ▲ $28.751M ▲ $-38.676M ▼
Q4-2024 $-64.551M ▼ $-25.099M ▼ $0 $742K ▼ $-24.357M ▼ $-25.099M ▼
Q3-2024 $-23.967M $-23.795M $0 $53.599M $29.804M $-23.795M

Revenue by Products

Product Q3-2022Q4-2022Q2-2025Q3-2025
Government rebates and other incentives
Government rebates and other incentives
 $0 ▲$0 ▲$0 ▲$0 ▲
Returns
Returns
 $0 ▲$0 ▲$0 ▲$0 ▲
Trade discounts and allowances
Trade discounts and allowances
 $0 ▲$0 ▲$0 ▲$0 ▲
Sale of COPIKTRA license and related assets
Sale of COPIKTRA license and related assets
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Verastem is still essentially a research‑stage biotech from a financial standpoint. Revenue so far is minimal, and not yet enough to offset its operating costs. The company has been reporting steady, meaningful losses each year, mainly driven by research, development, and related operating expenses. Those losses have persisted over time, though they have not exploded; they are more “consistently negative” than sharply worsening. Earnings per share remain clearly in the red, reflecting both ongoing costs and a small revenue base despite now having a commercial product.

Balance Sheet

Balance Sheet The balance sheet is small and lean, with a large share of assets held in cash and equivalents. Debt exists but is not extremely high in absolute terms; however, what stands out is that accumulated losses have recently pushed shareholder equity into negative territory. That combination—limited asset base, modest debt, and negative equity—signals a fragile financial foundation and a strong dependence on future funding or successful commercialization to rebuild capital. The prior reverse stock split underscores how much the company has already had to reshape its capital structure.

Cash Flow

Cash Flow Cash flow is typical of an early‑stage biotech: cash is flowing out steadily to fund trials and operations, while little is coming in from product sales. Operating cash outflows have been consistently negative for several years, with no meaningful spending on physical assets, which means most cash burn is going directly into R&D and overhead. Free cash flow mirrors operating cash flow and is firmly negative, implying that Verastem relies on raising capital from investors or partners to keep its programs moving forward.

Competitive Edge

Competitive Edge Competitively, Verastem has carved out a focused niche in cancers driven by the RAS/MAPK pathway. Its approved combination therapy for a specific form of ovarian cancer gives it “first‑in‑class” status in a narrowly defined patient group, backed by orphan drug protections and a differentiated dual‑mechanism approach. Partnerships with larger players add credibility and may help with combination strategies in broader cancers like lung cancer. On the other hand, Verastem is a small player operating in one of the most competitive areas of oncology, where many larger companies are also pursuing KRAS and related targets. Its position is therefore a mix of strong scientific differentiation in a narrow area and intense competition and execution risk in the broader oncology market.

Innovation and R&D

Innovation and R&D Innovation is the clear core strength of Verastem. The company has developed a distinctive combination therapy that targets both a key cancer signaling pathway and the tumor microenvironment, which is scientifically differentiated from standard single‑pathway inhibitors. Its pipeline extends this theme with a KRAS G12D inhibitor that addresses a mutation with high unmet need and growing industry interest. Early data from partners are encouraging, and multiple ongoing trials aim to broaden uses across several tumor types. Verastem also leverages collaborations to access new targets and combination approaches. The flip side is that much of this value is still unproven in late‑stage trials, so the scientific promise is high but comes with the usual clinical and regulatory uncertainties.

Summary

Overall, Verastem looks like a classic high‑risk, high‑uncertainty biotech story: scientifically ambitious, commercially early, and financially fragile. The company has moved from being purely developmental to having a first approved oncology product in a niche indication, which is a major strategic milestone. Its focus on the RAS/MAPK pathway and KRAS mutations puts it in a high‑value therapeutic area, supported by differentiated mechanisms and solid scientific rationale. At the same time, revenue remains very small, losses and cash burn are ongoing, and the balance sheet shows the strain of years of investment, including negative equity. Future outcomes depend heavily on successful expansion of the current therapy, positive data from the KRAS G12D program and other trials, and continued access to funding. For any observer, the key things to watch are clinical results, regulatory milestones, partnership progress, and how the company manages its cash and capital structure over the next few years.

NEWS

November 25, 2025 · 7:30 AM UTC

Verastem Oncology to Present at the 8th Annual Evercore Healthcare Conference

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November 14, 2025 · 12:41 AM UTC

Verastem Oncology Announces Pricing of $90 Million Public Offering of Common Stock and Pre-Funded Warrants

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November 13, 2025 · 4:07 PM UTC

Verastem Oncology Announces Proposed Public Offering of Common Stock

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November 5, 2025 · 7:30 AM UTC

Verastem Oncology to Present at Upcoming Investor Conferences

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November 4, 2025 · 7:30 AM UTC

Verastem Oncology Reports Third Quarter 2025 Financial Results and Highlights Recent Business Updates

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