Verastem, Inc. (VSTM) Stock Price & How to Invest
Last updated October 2026
Short answer
Verastem Oncology (VSTM) is a small, commercial-stage cancer biotech listed on Nasdaq. It sells one approved drug combination, AVMAPKI FAKZYNJA CO-PACK, for a rare form of ovarian cancer, and it is staking most of its future on VS-7375, an oral KRAS G12D inhibitor in trials for pancreatic, lung and colorectal cancer. The share price moves far more on clinical data and financing than on current sales.
VSTM stock price
As of 2026-10-16, Verastem, Inc. (VSTM) last closed at $8.65, down 6.2% over the past year. Over the past 52 weeks it has traded between $3.45 and $10.64.
Prices are daily closing prices from Yahoo Finance and may be delayed. For the live quote, check your broker or Verastem, Inc.'s investor relations page. Walnut is informational, not investment advice.
What does Verastem, Inc. (VSTM) do?
Verastem Oncology is a Needham, Massachusetts biotech focused on the RAS/MAPK pathway, the signaling chain that is mutated in roughly a third of human cancers. Its first approved product, AVMAPKI FAKZYNJA CO-PACK (avutometinib, a RAF/MEK inhibitor, taken with defactinib, a FAK inhibitor), won FDA accelerated approval in May 2025 for adults with recurrent KRAS-mutated low-grade serous ovarian cancer (LGSOC) who have had prior systemic therapy. Product sales are now the main source of revenue. The company also collects occasional milestone payments from Secura Bio, which bought its earlier drug COPIKTRA, and it has a royalty financing deal with Oberland Capital tied to future product sales.
In the second quarter of 2026, total revenue was ~$40.1 million: ~$25.1 million of product sales (up from ~$18.7 million in Q1) plus a $15 million COPIKTRA sales milestone. Research spending rose 67% to ~$41.3 million as VS-7375 trials expanded, and the GAAP net loss was ~$34.7 million, or $0.35 per share. Cash and investments were ~$136.4 million at June 30, before a $50 million Oberland payment and the milestone arrived. The bigger change came on October 14, 2026. Verastem reported updated TARGET-D 101 data for VS-7375, licensed from China's GenFleet Therapeutics, including a 41% confirmed response rate in 22 previously treated pancreatic cancer patients at 900 mg (50% in the second-line subgroup), said it had FDA alignment on a first-line pancreatic Phase 3, priced a ~$250 million offering at $8.00 per share, and named Michael Bailey as CEO from January 1, 2027.
The investment debate is about how much of a pipeline story investors want to pay for. Bulls point to early response rates that compare well with historical pancreatic cancer benchmarks, a clean safety profile, a growing commercial product and a balance sheet that is now much larger. Bears point to small single-arm datasets, a crowded race against far bigger RAS-focused companies, repeated equity raises, and the fact that the company still loses money every quarter.
What's driving Verastem, Inc. (VSTM)?
1. VS-7375 in KRAS G12D pancreatic cancer
KRAS G12D is the most common driver mutation in pancreatic ductal adenocarcinoma, a cancer where second-line chemotherapy has historically produced low response rates. In the October 2026 update, 900 mg VS-7375 monotherapy produced a 41% confirmed response rate (9 of 22) in second-line-plus patients, 50% (4 of 8) in second line alone, an 86% disease control rate and a 6-month progression-free rate of ~67%. Verastem says it has FDA alignment on TARGET-D 301, a first-line metastatic pancreatic Phase 3 planned to open by the end of 2026, and a registration-directed second-line Phase 2 (TARGET-D 201) is testing the drug alone and with cetuximab. FDA Fast Track covers both lines.
2. The ovarian cancer launch ramp
AVMAPKI FAKZYNJA CO-PACK sales grew from ~$18.7 million in Q1 2026 to ~$25.1 million in Q2, roughly a third sequentially, and cumulative product sales passed ~$74 million in its first five quarters on the market. LGSOC is a small indication, so the ceiling is limited, but the revenue partly offsets research spending. The Oberland deal adds up to $25 million more if quarterly sales reach $40 million before May 15, 2027, which gives a visible near-term target. The confirmatory Phase 3, RAMP 301, is expected to read out in mid-2027, and the company is also pursuing approvals in Europe and Japan.
3. Expansion into lung and colorectal cancer
VS-7375 is not only a pancreatic drug. In previously treated KRAS G12D non-small cell lung cancer, 600 mg monotherapy produced a 43% confirmed response rate (10 of 23), and a small first-line combination cohort showed 6 responses in 8 patients. In third-line-plus colorectal cancer, the drug combined with an anti-EGFR antibody produced 2 responses in 6 patients at 900 mg, one confirmed. Registration-directed Phase 2 trials in lung (TARGET-D 202) and colorectal cancer (TARGET-D 203) are enrolling, and the company has said it plans to discuss Phase 3 designs in all three tumor types with the FDA. Success beyond pancreatic cancer would widen the addressable market considerably.
4. A larger balance sheet and new leadership
Before October, Verastem guided that its cash would last into the second half of 2027, based on ~$201 million of pro forma cash including the Oberland closing payment and the COPIKTRA milestone. The October offering of ~30.9 million shares plus pre-funded warrants at $8.00, a ~7% premium to the prior close, raised ~$250 million gross, meant mainly for VS-7375. That should fund the start of pivotal trials, though the company has not yet published a new runway figure. Michael Bailey, who previously held leadership roles at AVEO Oncology, becomes president and CEO on January 1, 2027, while Dan Paterson retires and stays on the board as an adviser.
What are the risks to Verastem, Inc. (VSTM)?
The clearest risk is that VS-7375's early results do not hold up. The pancreatic response rate comes from 22 patients in a single-arm study with about six months of median follow-up, and response rates often fall, and durability often disappoints, as trials grow and move into randomized Phase 3 designs. Competition is a second risk: Revolution Medicines is running Phase 3 trials of RAS inhibitors in pancreatic cancer, and Eli Lilly, AstraZeneca, Boehringer Ingelheim and several Chinese biotechs have G12D or pan-RAS programs, many backed by far larger budgets. Third, Verastem lost ~$34.7 million in Q2 2026 and ~$200 million over the trailing twelve months, and three Phase 3 programs would be expensive, so further equity raises are plausible. Fourth, its ovarian product holds accelerated approval, which depends on the RAMP 301 confirmatory trial due in mid-2027. The Oberland royalty deal also gives up a share of future product revenue. Finally, VS-7375 is in-licensed from GenFleet, so milestones and royalties owed to the licensor reduce the economics, and the stock has swung between ~$3.43 and ~$10.82 over the past year.
What is the Verastem, Inc. (VSTM) forecast?
9 analysts publish price targets on VSTM, averaging $17.22 against a $8.65 price as of October 2026, or +99.1%. The published targets run from $12.00 to $24.00, a moderate spread, and the ratings split 10 buy, 0 hold, 0 sell. Over the last six months there have been 4 raises and 2 cuts among the published actions. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.
Read the full VSTM forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.
Is VSTM a buy or a sell?
We give no verdict on Verastem, Inc.. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.
The case for buying. VS-7375 in KRAS G12D pancreatic cancer. KRAS G12D is the most common driver mutation in pancreatic ductal adenocarcinoma, a cancer where second-line chemotherapy has historically produced low response rates. The most optimistic published target, $24.00, assumes this works close to its best case.
The case against. The clearest risk is that VS-7375's early results do not hold up. The most pessimistic target, $12.00, is roughly what VSTM is worth if this bites instead.
Read the full bull and bear case on VSTM, including what would have to change to break either one. Walnut is not an investment adviser.
How is Verastem, Inc. (VSTM) valued? (approximate, October 2026)
A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Verastem, Inc.'s investor relations page or your broker.
- Revenue (TTM): ~$87.5M (incl. $15M COPIKTRA milestone)
- Product revenue (Q2 2026): ~$25.1M (Q1: ~$18.7M)
- Net loss (Q2 2026): ~$34.7M ($0.35/share)
- Cash (June 30, 2026, pre-offering): ~$136.4M (~$201M pro forma)
- October 2026 offering: ~$250M gross at $8.00/share
- Market cap (mid-October 2026): ~$1.05B
At roughly $1 billion in market value against ~$87.5 million of trailing revenue, about 12 times sales, the market is pricing Verastem mostly on VS-7375 rather than on its ovarian franchise. Price-to-earnings multiples do not apply while the company loses money, and the trailing revenue figure is flattered by a one-time $15 million milestone. The most useful lenses are cash runway, the pace of product sales growth, and how the pipeline compares with rivals. The October offering added ~30.9 million shares plus pre-funded warrants, a meaningful increase on a share base of roughly 100 million earlier in 2026.
Who competes with Verastem, Inc. (VSTM)?
RAS and KRAS G12D inhibitor developers
Revolution Medicines (daraxonrasib and zoldonrasib) is the most advanced RAS-targeted developer in pancreatic cancer and the main benchmark for VS-7375. Eli Lilly, AstraZeneca, Boehringer Ingelheim and several China-based biotechs also have G12D-selective or pan-RAS drugs in clinical trials, competing for the same patients, trial sites and, eventually, the same prescribers.
Approved KRAS G12C drugs
Amgen's Lumakras and Bristol Myers Squibb's Krazati target a different KRAS mutation, G12C, so they do not treat the same patients. They matter because they set the clinical and commercial template for KRAS-targeted therapy in lung and colorectal cancer, and both companies compete with Verastem for oncologist attention and trial enrollment.
Ovarian cancer and MEK pathway players
In low-grade serous ovarian cancer, Verastem's regimen competes mainly with chemotherapy, hormonal therapy and off-label MEK inhibitors such as Novartis's trametinib rather than with another approved targeted combination. The bigger ovarian cancer companies, including AstraZeneca and GSK with PARP inhibitors, focus on more common high-grade disease, which leaves this niche relatively uncontested.
What stocks are similar to Verastem, Inc. (VSTM)?
Other names that sit close to VSTM: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.
How to invest in Verastem, Inc. (VSTM)
There are three common ways to get VSTM exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic portfolio, so VSTM sits alongside other stocks that express the same thesis.
Walnut takes the portfolio route. Describe a thesis where VSTM fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.
New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.
The bottom line on Verastem, Inc. (VSTM)
Verastem is a revenue-growing commercial biotech whose roughly $1 billion valuation rests mainly on VS-7375 in KRAS G12D cancers, so trial readouts, competition and dilution matter more than quarterly sales.
More on Verastem, Inc. (VSTM)
Whether VSTM is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is VSTM a buy or a sell?, and where the stock could go from here in the VSTM stock forecast.
For income investors, whether VSTM pays a dividend and how the payout looks is covered in does VSTM pay a dividend? And to weigh VSTM against a peer, read the full side-by-side comparisons: VSTM vs LLY and VSTM vs AZN.
Wondering how VSTM fits the portfolio you already own? Walnut is an AI investing app that connects your brokerage read-only and answers questions like that about your actual holdings: overlap, concentration, and how each position tracks the S&P 500. Compare the best AI portfolio analyzers or see the best AI investing apps in 2026.
Investing in Verastem, Inc. with AI
Connect the broker you already use and ask Walnut's AI how VSTM fits what you actually hold: whether you own it already through a fund, what it would do to your concentration, and how it has tracked the S&P 500. Read-only by default, and you approve anything before it reaches your broker.
FAQ
What does Verastem Oncology do?
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Verastem Oncology develops and sells cancer drugs that target the RAS/MAPK pathway, a growth-signaling chain that is mutated in many tumors. Its approved product, AVMAPKI FAKZYNJA CO-PACK, combines avutometinib and defactinib and treats adults with recurrent KRAS-mutated low-grade serous ovarian cancer after prior systemic therapy. It received FDA accelerated approval in May 2025 and generated ~$25.1 million of sales in the second quarter of 2026. The company's lead pipeline asset is VS-7375, an oral KRAS G12D inhibitor licensed from GenFleet Therapeutics and being tested in pancreatic, lung and colorectal cancer. Verastem is based in Needham, Massachusetts. It also earns occasional milestones from COPIKTRA, a drug it sold to Secura Bio, and it funds itself through a mix of product sales, royalty financing and stock offerings.
Why did VSTM stock move in October 2026?
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On October 14, 2026, Verastem reported updated results from its TARGET-D 101 trial of VS-7375. Among 22 previously treated pancreatic cancer patients on the 900 mg dose, 41% had confirmed responses, rising to 50% among the eight treated in second line, with 10% of patients having grade 3 or worse treatment-related side effects. It also showed a 43% confirmed response rate in previously treated lung cancer and said it had FDA alignment on a first-line pancreatic Phase 3 planned to open by the end of 2026. The same day it priced a ~$250 million offering at $8.00 per share and announced that Michael Bailey will succeed Dan Paterson as CEO on January 1, 2027. The shares jumped in early trading, and several analysts raised price targets, though the stock gave back some gains later in the week.
Does Verastem make money?
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Verastem has growing revenue but is not profitable. In the second quarter of 2026 it reported ~$40.1 million of total revenue, made up of ~$25.1 million of AVMAPKI FAKZYNJA CO-PACK sales and a one-time $15 million COPIKTRA milestone. Against that it spent ~$41.3 million on research and development and ~$27.4 million on selling, general and administrative costs, leaving a GAAP net loss of ~$34.7 million, or $0.35 per share. Over the trailing twelve months the net loss was roughly $200 million. Spending is likely to rise rather than fall as VS-7375 moves into registration-directed Phase 2 and Phase 3 trials, so profitability depends on a much larger commercial business than the company has today, most plausibly through VS-7375 approval in one or more indications.
What is VS-7375?
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VS-7375 is an oral drug that inhibits KRAS G12D, the most common KRAS mutation in pancreatic cancer and a frequent one in colorectal and lung cancer. It is designed to bind both the active (ON) and inactive (OFF) forms of the protein, which Verastem argues gives deeper pathway suppression than earlier inhibitors that only bind the OFF state. Verastem licensed rights outside China from GenFleet Therapeutics and runs the TARGET-D program: a Phase 1/2 study (101), registration-directed Phase 2 studies in pancreatic (201), lung (202) and colorectal cancer (203), and a planned first-line pancreatic Phase 3 (301). The FDA has granted Fast Track designation for KRAS G12D pancreatic cancer in first and second line. The October 2026 data showed response rates of 41% to 50% in previously treated pancreatic patients.
Does Verastem pay a dividend?
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No. Verastem does not pay a dividend, and its current dividend yield is 0%. That is typical for a clinical-stage or early commercial biotech, because the company is losing money and needs its cash for research, manufacturing and launch costs. In 2026 alone it raised money through a royalty financing with Oberland Capital (up to $75 million) and a ~$250 million stock offering, which tells you capital is flowing into the business rather than out to shareholders. A dividend would only become realistic after years of sustained profits, which in turn would require VS-7375 or another drug to reach the market and sell well. Any return for shareholders therefore comes from changes in the share price, which has ranged from about $3.43 to $10.82 over the past 52 weeks.
When does Verastem report earnings?
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Verastem reports quarterly results in early February, May, August and November. Its second-quarter 2026 report came on August 6, 2026, and its third-quarter 2026 results are expected in early November, with data providers estimating around November 3, though the company confirms the exact date by press release. The figures worth watching are AVMAPKI FAKZYNJA CO-PACK net sales against the $40 million quarterly threshold in the Oberland agreement, research spending as VS-7375 trials expand, and any updated cash runway guidance that reflects the October offering. Clinical news has often moved the stock more than earnings, so investors also follow medical conferences, FDA meetings and the opening of the first-line pancreatic Phase 3, which the company expects by the end of 2026.
Is Verastem stock a good investment?
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It depends on how much clinical and financing risk an investor is willing to carry, so it helps to lay out both sides. The bull case is that VS-7375 has shown 41% to 50% response rates in previously treated pancreatic cancer with low rates of severe side effects, that FDA alignment on a first-line Phase 3 creates a path to a large market, and that a growing ovarian product plus ~$250 million of new capital reduce near-term funding pressure. Analysts tracked in October 2026 were uniformly positive, with a mean price target near $15. The bear case is that the datasets are small and single-arm, that Revolution Medicines and big pharma companies are further ahead or better funded, that dilution has been repeated, and that the company is years from profitability. Which case proves right depends largely on Phase 3 results that are still years away.
Who are Verastem's main competitors?
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In KRAS-driven cancers, the main competitor is Revolution Medicines, whose RAS inhibitors daraxonrasib and zoldonrasib are in late-stage pancreatic and lung cancer trials and serve as the benchmark for VS-7375. Eli Lilly, AstraZeneca and Boehringer Ingelheim have G12D or pan-RAS programs, and several Chinese biotechs have G12D inhibitors in the clinic. Amgen (Lumakras) and Bristol Myers Squibb (Krazati) sell approved KRAS G12C drugs, which treat a different mutation but shape how oncologists use KRAS-targeted therapy. In low-grade serous ovarian cancer, Verastem competes mainly with chemotherapy, hormonal therapy and off-label MEK inhibitors such as trametinib rather than another approved targeted combination. The race in G12D is less about who has a drug and more about response depth, durability, safety and speed to pivotal data.
Walnut is informational, not investment advice. Financial figures on this page are approximations; always verify current numbers with Verastem, Inc.'s investor relations page or your broker before making investment decisions.