Sam is a professional trader and the lead stock market news writer at AskTraders. After starting his career in the forex market, Sam now focuses on gold and stocks with a preference for fundamental and macroeconomic analysis.
Shares of Verastem (NASDAQ: VSTM) are rallying premarket on Monday after it announced a clinical collaboration agreement with Amgen to evaluate the combination of VS-6766 with Amgen’s KRAS G12C inhibitor LUMAKRASTM (sotorasib).
VS-6766 is Verastem's investigational dual RAF/MEK inhibitor.
The Phase 1/2 trial will evaluate the safety, tolerability and efficacy of VS-6766 combined with LUMAKRASTM in patients with KRAS G12C-mutant NSCLC who have not previously been treated with a KRAS G12C inhibitor along with patients who have progressed on a KRAS G12C inhibitor.
“We are pleased to partner with Amgen on this important research that could potentially expand treatment options for patients with KRAS G12C-mutant NSCLC,” said Brian Stuglik, CEO of Verastem Oncology.
“This collaboration advances our strategy to fully explore the potential of VS-6766 as a backbone of therapy to treat RAS pathway-driven cancers.”
The company expects to begin the clinical trial by the end of this year.
Verastem shares are currently up over 22.8% at $3.39 premarket on Monday. Its year-to-date gains stand at 29.58%.
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