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Verastem Oncology (VSTM) Stock Rallies On Collaboration Agreement with Amgen

Sam Boughedda trader
Updated 20 Sep 2021

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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Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples.