Verastem, Inc. Announces Pricing Of Public Offering Of Common Stock

BOSTON--(BUSINESS WIRE)--Verastem, Inc., (NASDAQ:VSTM), focused on discovering and developing drugs to treat cancer by the targeted killing of cancer stem cells, today announced the pricing of its previously announced underwritten public offering of 7,250,000 shares of its common stock, offered at a price of $6.50 per share to the public. The net proceeds to Verastem from this offering are expected to be approximately $44.1 million, after deducting underwriting discounts and commissions and offering expenses. All of the shares sold in the offering will be sold by Verastem. The offering is expected to close on or about January 28, 2015, subject to the satisfaction of customary closing conditions. Verastem has granted to the underwriters a 30-day option to purchase up to 1,087,500 additional shares of common stock. Verastem anticipates using the net proceeds from the offering for: its registration-directed COMMAND study in mesothelioma and the initiation of associated studies in preparation for a possible NDA filing to the FDA and similar filings to other regulatory authorities; its other ongoing clinical trials with VS-6063, VS-4718 and VS-5584; and the balance, if any, for other general corporate purposes.

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