Verastem Inc (NASDAQ: VSTM) is having a relatively strong start to the trading session this morning, and for good reason. The company announced that data from a phase 3 clinical trial was published in a peer reviewed journal. The publication excited investors, causing the stock to edge upward in the pre-market. Today, we’ll talk about:
- The data publication;
- what we’re seeing from VSTM; and
- what we’ll be watching for with regard to the stock ahead.
VSTM Announces Clinical Data
As mentioned above, Verastem is having a strong start to the trading session this morning in the pre-market hours after the company announced the publication of data. In a press release issued early this morning, the company said that the results of its Phase 3 DUO study were published online in the peer-reviewed journal, Blood.
Through the Phase 3 DUO study, VSTM assessed CPIKTRA (duvelisib) capsuls compared to ofatumamab in patients with relapsed or refractory chronic lyphocytic leukemia/small lymphocytic lymphoma. COPIKTRA is an oral inhibior of phosphoinositide 3-kinase (PI3K), and the first approved dual inhibitor of PI3K-delta and PI3k-gamma. In a statement, Dr. Ian Flin, Director of the Lymphoma Research Program at Sarah Cannon Research Institute and lead investigator in the VSTM DUO study, had the following to offer:
Continued research for new treatment options is important to address the needs of patients with relapsed or refractory CLL/SLL once they have progressed… Duvelisib is an important addition to the evolving treatment paradigm for patients with CLL/SLL and we are delighted to have the study results published in Blood to share with the medical and scientific communities.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that the news leads to moves. In the case of Verastem, the news proved to be positive. After all, the company’s data was published in a peer-reviewed journal, adding a source of validation to their work. So, it comes as no surprise that excited investors are pushing the stock upward today. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (9:12), VSTM is trading at $7.02 per share after a gain of $0.22 per share or 3.24% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on VSTM. In particular, we’re interested in following the continued development of CPIKTRA as the treatment seems to be yielding positive results. Nonehteless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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