Here's Why Verastem Stock Is Jumping Today
Shares of Verastem Oncology (NASDAQ: VSTM), a biotechnology company developing new cancer drugs, are on the rise again after the company announced an upcoming conference call. Investors excited to hear what management will have to say about an investigator-initiated study (i.e., one not controlled by the drug company) with a pair of Verastem's new drug candidates have driven the stock 20% higher as of 1:10 p.m. EDT on Monday.
On Monday, April 27, Verastem will present details from an investigator-initiated clinical trial involving two of its experimental cancer drugs candidates, VS-6766, and defactinib. The latter is a FAK inhibitor that flopped in an early stage trial with mesothelioma patients about five years ago, and VS-6766 is a more recently discovered RAF/MEK inhibitor aimed at KRAS-mutated tumors.
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Source Fool.com