Verastem, Inc.: reports preliminary Q3 2026 results and CEO transition

What happened

• The filing reported preliminary unaudited financial results for the three months ended Sep 30, 2026 and a planned CEO transition. The filing states Daniel W. Paterson notified the board on Oct 12, 2026 that he will retire as president and chief executive officer effective Jan 1, 2027 and will continue to serve on the board as a Class III director. The filing states Michael Bailey will be appointed president and chief executive officer as of Jan 1, 2027 and will continue to serve as a Class II director. The filing also furnished press releases and a corporate presentation dated Oct 14, 2026 and reported updated clinical data for VS-7375 and regulatory activity including FDA acceptance of a blister pack NDA for first quarter of 2027 with priority review.

Key details

• Net product revenue for the three months ended Sep 30, 2026 is estimated in the range of $23,900,000 to $24,100,000, compared to $11,200,000 for the three months ended Sep 30, 2025.
• Cash, cash equivalents and investments as of Sep 30, 2026 are estimated to be $172,800,000, compared to $137,700,000 as of Sep 30, 2025.
• VS-7375 clinical update: in 22 mPDAC patients treated with 900 mg QD monotherapy (mITT) the filing reports a confirmed objective response rate of 41% (9/22) in the 2L+ setting and 50% (4/8) in second-line PDAC; disease control rate 86% (n=22); six-month PFS landmark 67%; six-month OS landmark 80%. The filing states the company and FDA aligned on a Phase 3 first-line mPDAC study design to open by year-end 2026.
• The filing states the company suspended and terminated the ATM prospectus under the Sales Agreement with Cantor Fitzgerald & Co., effective Oct 14, 2026; no shares have been sold under the ATM prospectus.

Why it may matter

• Item 2.02: the filing reports preliminary results of operations and financial condition (unaudited, subject to revision).
• Item 5.02: the filing reports the departure of the CEO and the appointment of a new chief executive officer.
• Item 7.01 and Item 8.01: the filing furnished press releases and a presentation and reported other events, including clinical data for VS-7375, termination of the ATM prospectus and FDA acceptance with priority review of a blister pack NDA.

The filing does not show why the insider traded or why the company acted.