Verastem shares surge more than 50% after pancreatic-cancer treatment study data

Dow Jones05-24

MW Verastem shares surge more than 50% after pancreatic-cancer treatment study data

By Ben Glickman

Shares of Verastem (VSTM) rose late Thursday after interim data from the company's trial evaluating a combination therapies to treat pancreatic cancer showed a high overall response rate.

The stock was up 57.6%, to $19.20, in post-market trading, after a 2.5% rise at the close. Shares are up about 50% this year as of the end of trading Thursday.

The Boston-based biopharmaceutical company said that in the dose level 1 cohort, there was an overall response rate of 83%, or five out of six. The company said there was one dose-limiting toxicity in that cohort.

Verastem said that of the 26 patients in all dosing cohorts who were able to have their first scan on treatment, 21 experienced a reduction of the change in target lesion sum of diameters.

The Phase 1/2 study is evaluating avutometinib plus defactinib in combination with gemcitabine and Nab-paclitaxel in patients with metastatic pancreatic cancer. The interim data will be presented at the American Society of Clinical Oncology annual meeting June 1.

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

May 23, 2024 18:58 ET (22:58 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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