Verastem Stock Earnings Reports

Verastem Oncology reported strong commercial and clinical progress in Q3 2025. Key commercial highlights include net product revenue of $11.2 million in the first full quarter following FDA approval of the AVMAPKI FAKZYNJA CO-PACK for KRAS-mutated recurrent low-grade serous ovarian cancer (LGSOC), broad prescriber adoption (133 prescribers), ~65% of prescriptions from top 100 organizations, covered lives >80%, and payer mix roughly half commercial/half Medicare. The company is seeing uptake across academic and community settings, specialty pharmacies/distributors are onboard, reimbursement has not been a barrier, and early refill/repeat-prescription dynamics are encouraging. On the clinical side, enrollment was completed for RAMP-205 expansion cohort (first-line pancreatic cancer) and the confirmatory Phase III RAMP-301 in recurrent LGSOC (with a modest ~30-patient increase recommended by the IDMC). Early safety/tolerability data for VS-7375 (KRAS G12D inhibitor) were favorable—two monotherapy doses cleared with no dose-limiting toxicities and minimal GI adverse events—supporting movement to combination cohorts. Financials: Q3 R&D and SG&A expenses increased due to trials and commercial launch support; non-GAAP adjusted net loss was $39.4 million for Q3. Cash, cash equivalents and investments were $137.7 million at quarter-end, and management believes this plus future product revenues and warrant exercises provides runway into H2 2026. Near-term catalysts include multiple data readouts expected in H1 2026 (RAMP-205 expansion cohort and initial Phase I/IIa VS-7375 results) and planned FDA engagement on VS-7375 development. Management emphasized continued focus on physician engagement, patient initiation/retention, and streamlined reimbursement to sustain launch momentum.