BOSTON--(BUSINESS WIRE)--Jan. 20, 2015--
Verastem, Inc. (NASDAQ:VSTM), focused on discovering and developing
drugs to treat cancer by the targeted killing of cancer stem cells,
today announced that it intends to offer and sell $40 million of its
common stock in an underwritten public offering. The offering is subject
to market and other conditions, and there can be no assurance as to
whether or when the offering may be completed, or as to the actual size
or terms of the offering. All of the shares to be sold in the offering
are to be sold by Verastem.
Jefferies LLC and Leerink Partners LLC are acting as joint book-running
managers and Guggenheim Securities, LLC and Oppenheimer & Co. Inc. are
acting as co-lead managers in the offering.
A shelf registration statement on Form S-3 relating to the public
offering of the shares of common stock described above was declared
effective by the Securities and Exchange Commission (the "SEC") on
January 8, 2014. Before you invest, you should read the prospectus in
the registration statement and related preliminary prospectus supplement
that Verastem has filed with the SEC for more complete information about
Verastem and this offering. The preliminary prospectus supplement is
available for free by visiting EDGAR on the SEC's website located at www.sec.gov.
Copies of the preliminary prospectus supplement and accompanying
prospectus may also be obtained from Jefferies LLC, Attention: Equity
Syndicate Prospectus Department, 520 Madison Avenue, 2nd
Floor, New York, NY, 10022, by telephone at 877-547-6340 or by email at Prospectus_Department@Jefferies.com
or from Leerink Partners LLC, Attention: Syndicate Department, One
Federal Street, 37th Floor, Boston, MA 02110, by telephone at
1-800-808-7525 (ext. 6142) or by email at Syndicate@Leerink.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there be any
sale of these securities in any state or other jurisdiction in which
such offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
state or other jurisdiction.
About Verastem, Inc.
Verastem, Inc. (NASDAQ:VSTM) is discovering and developing drugs to
treat cancer by the targeted killing of cancer stem cells. Cancer stem
cells are an underlying cause of tumor recurrence and metastasis.
Verastem is developing small molecule inhibitors of signaling pathways
that are critical to cancer stem cell survival and proliferation: FAK,
PI3K/mTOR and Wnt.
Certain of the statements made in this press release, including those
relating to the Company’s proposed public offering, are forward-looking
statements. Actual results or developments may differ materially from
those projected or implied in these forward looking statements. Factors
that may cause such a difference include, without limitation: our
ability to successfully complete the offering on terms and conditions
satisfactory to us; the possible adverse impact on the market price of
our shares of common stock due to the dilutive effect of the securities
to be sold in the offering; capital market risks; and the impact of
general economic or industry conditions. There can be no assurance that
we will be able to complete the proposed public offering on the
anticipated terms, or at all. You should not place undue reliance on
these forward looking statements, which apply only as of the date of
this press release. Other risks and uncertainties include those
identified in the Company’s Annual Report on Form 10-K for the year
ended December 31, 2013 and any subsequent SEC filings, including the
prospectus supplement related to the proposed offering. The
forward-looking statements contained in this press release reflect the
Company’s current views with respect to future events, and the Company
does not undertake and specifically disclaims any obligation to update
any forward-looking statements.
Source: Verastem, Inc.
Brian Sullivan, 781-292-4214