BOSTON--(BUSINESS WIRE)--Feb. 6, 2018--
Verastem, Inc. (Nasdaq:VSTM), focused on discovering and developing
drugs to improve the survival and quality of life of cancer patients,
today announced the grant of stock options to six new employees to
purchase an aggregate of 219,000 shares of Verastem’s common stock. The
options were granted as an inducement material to the employees’
acceptance of employment with Verastem in accordance with Nasdaq Listing
Rule 5635(c)(4). The options have an exercise price equal to $3.55, the
closing price of Verastem's common stock as reported by Nasdaq on
February 1, 2018. One-fourth of the shares underlying each employee's
option will vest on the one-year anniversary of his or her date of hire,
and thereafter, an additional 6.25% of the shares subject to the options
will vest at the end of each successive three-month period, provided
that the employees continue to serve as an employee of or other service
provider to Verastem on each such vesting date.
About Verastem, Inc.
Verastem, Inc. (Nasdaq:VSTM) is a biopharmaceutical company focused on
discovering and developing drugs to improve outcomes for patients with
cancer. Verastem is currently developing duvelisib, a dual inhibitor of
PI3K-delta and PI3K-gamma, which has successfully met its primary
endpoint in a Phase 2 study in patients with refractory indolent
non-Hodgkin lymphoma and a Phase 3 clinical trial in patients with
relapsed or refractory chronic lymphocytic leukemia/small lymphocytic
lymphoma. In addition, Verastem is developing the focal adhesion kinase
inhibitor defactinib, which is currently being evaluated in three
separate clinical collaborations in combination with immunotherapeutic
agents for the treatment of several different cancer types, including
pancreatic cancer, ovarian cancer, non-small cell lung cancer, and
mesothelioma. Verastem’s product candidates seek to treat cancer by
modulating the local tumor microenvironment, enhancing anti-tumor
immunity, and reducing cancer stem cells. For more information, please
visit www.verastem.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180206006245/en/
Source: Verastem, Inc.
Verastem, Inc.
Marianne M. Lambertson, 781-292-4273
Vice
President, Corporate Communications
mlambertson@verastem.com
