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Dec 31, 2024
Verastem Q4 2024 Earnings Report
Verastem reported its Q4 2024 financial results and highlighted recent business progress.
Key Takeaways
Verastem reported a significant net loss in Q4 2024 due to higher expenses and fair value adjustments, while advancing regulatory milestones and clinical development. The company ended the quarter with strong liquidity bolstered by refinancing and equity issuance.
Q4 2024 net loss was $64,550,000, compared to $27,368,000 in Q4 2023.
Non-GAAP adjusted net loss for Q4 2024 was $29,347,000, or $0.60 per share.
Cash, cash equivalents, and investments totaled $88,818,000 as of December 31, 2024.
Total operating expenses for the quarter reached $31,590,000.
Forward Guidance
Verastem anticipates key regulatory milestones, clinical data readouts, and commercial preparation for the potential launch of avutometinib plus defactinib in 2025.
Positive Outlook
- FDA decision on NDA expected by June 30, 2025.
- Completion of enrollment in RAMP 301 confirmatory trial by end of 2025.
- Planned submission for NCCN guideline inclusion after approval.
- Advancement of RAMP 205 trial with anticipated mid-2025 data update.
- Initiation of Phase 1/2a trial for VS-7375 in mid-2025.
Challenges Ahead
- High quarterly net loss due to warrant liability adjustments.
- Increased selling, general & administrative expenses.
- Dependence on successful regulatory outcomes for product launch.
- Reliance on debt refinancing and equity raises to strengthen cash position.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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