CAMBRIDGE, Mass.--(BUSINESS WIRE)--
Verastem, Inc., (VSTM) a biopharmaceutical company focused on discovering and developing drugs to treat breast and other cancers by targeting cancer stem cells, today reported financial results for the quarter ended June 30, 2012, and also commented on certain corporate accomplishments and plans.
We made significant advances in our therapeutic programs during the second quarter, said Christoph Westphal, M.D., Ph.D., Chairman, President and Chief Executive Officer of Verastem. The acquisition of the Phase 2-ready focal adhesion kinase inhibitors from Pfizer accelerates this key cancer stem cell-targeting program by approximately 12-18 months, and we are now positioned to initiate a potential registration study in mesothelioma next year.
Recent Accomplishments
Our significant recent accomplishments include the following:
Focal Adhesion Kinase (FAK) Inhibition
Dual PI3K/mTOR Inhibition
Corporate
Second Quarter 2012 Financial Results
As of June 30, 2012, Verastem had cash, cash equivalents and investments of $104.3 million compared to $56.8 million on December 31, 2011.
Link:
Verastem Reports Second Quarter 2012 Financial and Corporate Results