Verastem Estimates Third-Quarter Product Revenue at $23.9 Million to $24.1 Million
Key Facts
Verastem Oncology estimated net product revenue for the third quarter of 2026 at $23.9 million to $24.1 million, according to a preliminary disclosure the company filed on October 12. The range compares with revenue of $11.2 million in the same period of 2025. The company said the figures are preliminary and unaudited. The results focus on product revenue growth alongside a quarterly per-share loss reported by the company in its earnings statement. The disclosure forms part of monitoring the company's commercial performance and the progress of its treatment programs.
On liquidity, the company estimated cash, cash equivalents and investments at $172.8 million on September 30, 2026. The balance was $137.7 million on the same date in 2025. This reflects an increase in cash balances and investments compared with the year-earlier figure cited in the disclosure. The company ended the second quarter of 2026 with cash and investments of $136.4 million. It also reported net product revenue of $25.1 million that quarter, according to results published in August.
On October 14, Verastem announced the pricing of a $250 million offering of common stock and pre-funded warrants. The announcement followed the company's estimate of its cash and investments balance at the end of September. The announced offering adds a financing development to the monitoring of third-quarter results and the company's clinical programs. In pancreatic cancer, the company said data from the VS-7375 trial published in October showed a confirmed response rate of 50%, or 4 of 8 patients, among second-line patients. The rate was 41%, or 9 of 22 patients, in the second-line-and-beyond group, based on data through October 7, 2026.
The company plans to start a Phase 3 trial of a treatment for first-line metastatic pancreatic cancer before the end of 2026, after reaching agreement with the U.S. Food and Drug Administration on the study design. Other upcoming milestones include an FDA decision expected in February 2027, according to the timeline developments reported for the company's programs. The company also said Chief Executive Daniel Patterson will retire effective January 1, 2027, with Michael Bailey taking over on the same date. Verastem had set November 5, 2026, at 4:30 p.m. Eastern Time, for its third-quarter earnings call. These dates place trial and leadership developments among the key milestones to monitor following the results announcement.