BOSTON--(BUSINESS WIRE)--May 4, 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 ten new employees to
purchase an aggregate of 209,000 shares of Verastem Oncology’s common
stock. The options were granted as an inducement material to the
employees’ acceptance of employment with Verastem Oncology in accordance
with Nasdaq Listing Rule 5635(c)(4). The options have an exercise price
equal to $4.19, the closing price of Verastem's common stock as reported
by Nasdaq on May 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 employee continues to serve as an employee of
or other service provider to Verastem Oncology on each such vesting date.
About Verastem Oncology
Verastem, Inc. (Nasdaq: VSTM), operating as Verastem Oncology, is a
biopharmaceutical company focused on developing and commercializing
drugs to improve the survival and quality of life of cancer patients.
Verastem Oncology 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 and a Phase
3 clinical trial in patients with chronic lymphocytic leukemia/small
lymphocytic lymphoma (CLL/SLL). Verastem Oncology’s 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) was accepted for filing by the U.S. Food and Drug
Administration, granted Priority Review and assigned a target action
date of October 5, 2018. In addition, Verastem Oncology 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 Oncology’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: https://www.businesswire.com/news/home/20180504005608/en/
Source: Verastem, Inc.
Verastem Oncology
Marianne M. Lambertson, 781-292-4273
Vice
President, Corporate Communications
mlambertson@verastem.com
