Why Shares of Verastem Inc nasdaq Vstm Were Up Friday

Why Shares of Verastem, Inc. (NASDAQ: VSTM) Were Up Friday

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.