Here's Why Verastem Oncology Is Tanking Today
Shares of Verastem Oncology (NASDAQ: VSTM), a biotechnology company developing novel cancer therapies, are sliding after a highly anticipated data drop failed to impress investors. Shares of the biotech stock were down 42.9% as of 12:12 p.m. EDT on Monday.
This year, the American Association for Cancer Research granted independent researchers who have been testing a combination of Verastem's experimental therapies a virtual poster presentation during this year's meeting. Verastem shares ballooned last week after the company told investors it would hold a conference call today to discuss results of an independently sponsored clinical trial that used VS-6766 plus defactinib to treat cancer patients with aggressive tumors driven by the same mutation.
Image source: Getty Images.
Source Fool.com