Verastem (VSTM), a development-stage biopharmaceutical company, made a groundbreaking announcement about its RAMP 201 trial, causing its shares to soar by an incredible 125.55% on May 26th.
The RAMP 201 trial focuses on avutometinib in combination with defactinib for patients suffering from recurrent low-grade serous ovarian cancer (LGSOC). Recently, the trial unveiled updated data from its interim analysis, revealing an impressive objective response rate of 45% in patients with recurrent LGSOC.
Verastem Oncology plans to present this remarkable data at the American Society of Clinical Oncology Annual Meeting. LGSOC, which makes up approximately 10% of ovarian cancer cases, possesses unique clinical and molecular characteristics that set it apart from high-grade serous ovarian cancer. Therefore, the updated findings from the RAMP 201 trial could have profound implications for the treatment of LGSOC patients.
On Friday, Verastem’s shares opened at $0.51, surpassing its previous closing price of $0.45. Throughout the day, the stock’s trading range fluctuated between $0.46 and $1.21, with an impressive volume of 1,664,457 shares being traded.
As of press time, VSTM stock is trading at the price of $1.01, showing an increase of 125.55% compared to the previous trading session. The market cap of VSTM stands at $90.4M.
Zabih Ullah is a seasoned finance writer with more than ten years of experience. He is highly skilled at analyzing market trends, decoding economic data, and providing insightful commentary on various financial topics. Driven by his curiosity, Zabih stays updated with the latest developments in the finance industry, ensuring that his readers receive timely and relevant news and analysis.
