BOSTON--(BUSINESS WIRE)--Mar. 2, 2018--
Verastem, Inc. (Nasdaq:VSTM), focused on developing and commercializing
drugs to improve the survival and quality of life of cancer patients,
today announced the grant of stock options to eight new employees to
purchase an aggregate of 114,000 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 $3.05, the
closing price of Verastem's common stock as reported by Nasdaq on March
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 at
the end of each successive three-month period following the first
anniversary of the date of hire, 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
developing and commercializing drugs to improve the survival and quality
of life of cancer patients. 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 indolent Non-Hodgkin
Lymphoma (iNHL) and a Phase 3 clinical trial in patients with chronic
lymphocytic leukemia/small lymphocytic lymphoma (CLL/SLL). Verastem has
submitted a New Drug Application (NDA) requesting the full approval of
duvelisib for the treatment of patients with relapsed or refractory
CLL/SLL, and accelerated approval for the treatment of patients with
relapsed or refractory follicular lymphoma (FL). In addition, Verastem
is developing the FAK 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
carcinoma (NSCLC), and mesothelioma. Verastem’s product candidates seek
to treat cancer by modulating the local tumor microenvironment and
enhancing anti-tumor immunity. For more information, please visit www.verastem.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180302005536/en/
Source: Verastem, Inc.
Verastem, Inc.
Marianne M. Lambertson,781-292-4273
Vice
President, Corporate Communications
mlambertson@verastem.com
