Verastem (VSTM) Jefferies Global Healthcare Conference 2026 summary

Commercial performance and strategy

• AVMAPKI FAKZYNJA CO-PACK, an FDA-approved therapy for low-grade serous ovarian cancer, has generated over $50 million in revenue since launch, with consistent quarter-over-quarter growth.

• Commercial focus is on maintaining new patient starts, moving the drug up in the line of therapy, and improving patient retention on therapy.

• Q1 revenue growth was modest due to seasonality and insurance re-verification, but momentum improved in subsequent months, with expectations to exceed Q1 growth in Q2.

• Efforts include expanding the sales force, launching a new campaign to move the drug earlier in therapy, and leveraging data to identify patients.

• Peak revenue opportunity is estimated at $300–$600 million, with the higher end dependent on expansion into wild-type indications.

Clinical development and pipeline updates

• KRAS G12D inhibitor VS-7375 is advancing rapidly, with phase I completed and phase II programs launched in lung, colorectal, and pancreatic cancers.

• The drug is highly selective for KRAS G12D, showing promising efficacy and a favorable safety profile compared to pan-RAS inhibitors.

• Over 100 patients have been enrolled in the U.S. study, with a data update focused on safety and case studies expected before the end of the month.

• The go-forward dose is set at 900 mg, which has demonstrated better efficacy and tolerability than lower doses.

• Phase II studies are designed as single-agent and combination trials, including a cohort for lung cancer patients with brain metastases.

Regulatory and financial outlook

• FDA feedback encouraged separate phase II studies for each indication, suggesting openness to Accelerated Approval if strong efficacy is shown.

• A response rate above 30% is considered the minimum threshold for regulatory consideration, with best-in-class efficacy as the goal.

• The company holds $182 million in cash as of March 31, 2026, providing a runway through the first half of 2027.