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Verastem
Verastem (VSTM) investor relations material
Verastem Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary4 Mar, 2026
Executive summary
Achieved FDA approval and commercial launch of AVMAPKI FAKZYNJA CO-PACK for KRAS-mutated recurrent LGSOC, nearly two months ahead of PDUFA date, driving $30.9M net product revenue in 2025 and strong uptake among oncologists.
Advanced clinical pipeline with robust development in RAS/MAPK pathway-driven cancers, including VS-7375, which cleared multiple dose levels with no DLTs and began Phase 2 registration-directed protocols.
Expanded prescriber base to nearly 300 by February, with over 75% of target institutions adopting the therapy and strong payer coverage.
Ended 2025 with $205M in cash, cash equivalents, and investments; pro-forma $234M including January 2026 warrant exercises, extending runway into H1 2027.
Achieved key milestones including early completion of RAMP 301 and RAMP 205 trial enrollments, and leadership changes to support growth.
Financial highlights
Q4 2025 net product revenue: $17.5M; FY2025: $30.9M, with cost of sales $2.6M in Q4 and $4.6M–$5.3M for the year.
Q4 2025 operating expenses: $59.0M (GAAP); FY2025: $201.0M (GAAP), with R&D $31.7M in Q4 and $114.6M for the year, and SG&A $24.4M in Q4 and $81.1M for the year.
Q4 2025 non-GAAP adjusted net loss: $39.8M ($0.48/share); FY2025: $163.1M ($2.35/share).
Q4 2025 net loss (GAAP): $32.9M ($0.39/share); FY2025: $209.5M ($3.02/share).
Weighted average shares outstanding FY2025: 69.3M.
Outlook and guidance
SG&A expenses expected to remain stable quarterly in 2026; cash runway projected into H1 2027.
LGSOC franchise expected to be self-sustaining in H2 2026; focus on maximizing CO-PACK adoption and advancing VS-7375 registration.
Topline readout of RAMP 301 trial expected mid-2027; updates on RAMP-205 and VS-7375-101 trials in 2026.
Pursuing regulatory expansion in Europe and Japan.
Explain NCCN's LGSOC guideline decision.
Detail VS-7375 FDA feedback impact.
Cash runway extension strategy?
LGSOC reimbursement strategy without NCCN
Rationale for VS-7375 dose escalation to 1200mg
Defactinib role in reducing stromal density
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Latest events from Verastem
- Strong sales, robust clinical progress, and major data updates expected mid-year.VSTM
Guggenheim Securities Emerging Outlook: Biotech Summit 202611 Feb 2026 - Pivotal LGSOC therapy nears approval as pipeline advances in high-value oncology markets.VSTM2024 Cantor Fitzgerald Global Healthcare Conference20 Jan 2026
- Avutometinib plus defactinib achieved 31% ORR and durable benefit in recurrent LGSOC.VSTMStudy Update19 Jan 2026
- Lead asset for LGSOC shows strong efficacy and tolerability, with launch expected mid next year.VSTMGuggenheim Inaugural Global Healthcare Innovation Conference14 Jan 2026
- Lead therapy delivers strong results in LGSOC and expands into new cancer indications.VSTM7th Annual Evercore ISI HealthCONx Healthcare Conference12 Jan 2026
- Early approval and strong uptake for a novel ovarian cancer therapy, with pipeline breakthroughs in KRAS cancers.VSTMCantor Global Healthcare Conference 202531 Dec 2025
- FDA decision on LGSOC therapy expected summer 2025, with major pipeline catalysts ahead.VSTMGuggenheim SMID Cap Biotech Conference23 Dec 2025
- Resale of shares from a private placement as lead cancer drugs near FDA decision.VSTMRegistration Filing16 Dec 2025
- $75M raised for oncology drug launch and R&D after FDA approval, with global expansion planned.VSTMRegistration Filing16 Dec 2025
Next Verastem earnings date
Q1 20268 May, 2026
Verastem
Next Verastem earnings date
Q1 20268 May, 2026
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Frequently asked questions
Verastem Inc is a development-stage biopharmaceutical company primarily focused on the development and commercialization of new medicines aimed at improving the lives of patients diagnosed with cancer. The company is engaged in advancing a pipeline of novel small-molecule drugs that target critical signaling pathways involved in cancer cell survival and tumor growth. These pathways include RAF/MEK inhibition and focal adhesion kinase (FAK) inhibition, which are central to the company's research and development efforts. The company is headquartered in Needham, Massachusetts, and its shares are listed on the Nasdaq.
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