Verastem, Inc.

Listed Company

VSTMCIK 0001526119NasdaqNon-AcceleratedSmaller ReportingPharmaceutical PreparationsMassachusettsFY ends Dec 31

Period

FY 2025

Revenue

$30.91M

Net Income

$-209.47M

Total Assets

$246.44M

Equity

$57.20M

Shares Out

87.87M

Op. Cash Flow

$-137.51M

VSTM$6.05+18.63% · past yearDBEQ Basic

Daily closing prices

Business

Verastem is a biopharmaceutical company developing and commercializing novel medicines targeting RAS/MAPK pathway-driven cancers. The company markets AVMAPKI FAKZYNJA CO-PACK (avutometinib plus defactinib), the first FDA-approved treatment for KRAS-mutated recurrent low-grade serous ovarian cancer, approved in May 2025. The pipeline includes VS-7375, a potential best-in-class oral KRAS G12D inhibitor in Phase 1/2 trials, and preclinical programs targeting RAS/MAPK pathway-driven cancers. The company operates primarily in the U.S. market with ongoing geographic expansion efforts in Europe and Japan.

Summary from 10-K filed 2026-03-04

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenue	31	10	—	3	2
Cost of sales - product	5	—	—	—	—
Cost of sales - intangible amortization	700,000	—	—	—	—
Research and development	115	81	61	51	39
Selling, general and administrative	81	44	31	25	24
Total operating expenses	201	125	92	76	63
Loss from operations	−170	−115	−92	−73	−61
Other expense	−203,000	−123,000	−109,000	47,000	—
Interest income	4	4	6	1	181,000
Interest expense	−1	−5	−4	−2	−10
Loss on debt extinguishment	−2	—	—	—	—
Change in fair value of preferred stock tranche liability	—	4	3	—	—
Change in fair value of warrant liability	−27	−19	—	—	—
Change in fair value of Notes	−13	—	—	—	—
Net loss before taxes	−209	−130	−87	−74	−71
Income tax expense	—	−200,000	—	0	0
Net loss	−209	−131	−87	−74	−71
Net loss per share-basic	−3.02	−3.66	−3.96	−4.57	−4.9
Net loss per share-diluted	−3.02	−3.66	−3.96	−4.57	−4.9
Weighted average common shares outstanding used in computing net loss per share - basic	69	36	22	16	15
Weighted average common shares outstanding used in computing net loss per share - diluted	69	36	22	16	15
Unrealized gain (loss) on available-for-sale securities	—	−13,000	13,000	−34,000	−19,000
Change in fair value of Notes attributable to instrument specific credit risk	5	—	—	—	—
Comprehensive loss	−204	−131	−87	−74	−71

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2024 2024-11-30	FY 2023 2023-12-31	FY 2022 2022-12-31
Cash and cash equivalents	205	89	—	78	75
Accounts receivable, net	9	—	—	—	31,000
Inventory	2	—	—	—	—
Grant receivable	200,000	200,000	—	—	—
Prepaid expenses and other current assets	8	6	—	7	5
Total current assets	223	95	—	144	93
Property and equipment, net	—	32,000	—	37,000	92,000
Right-of-use asset, net	500,000	1	1	1	2
Restricted cash	—	241,000	—	241,000	241,000
Intangible assets, net	16	—	—	—	—
Other assets	6	5	—	5	58,000
Total assets	246	102	—	150	95
Accounts payable	12	4	—	7	5
Accrued expenses, short-term	54	26	—	18	15
Vendor financing arrangement, short-term	5	—	—	—	—
Lease liability, short-term	535,000	995,000	—	941,000	794,000
Total current liabilities	72	31	—	26	22
Long-term debt	76	41	—	40	25
Vendor financing arrangement, long-term	5	—	—	—	—
Lease liability, long-term	—	535,000	—	530,000	1
Warrant liability	36	58	—	—	—
Total liabilities	189	130	—	71	48
Series B Convertible Preferred Stock, $0.0001 par value; 944 shares designated at December 31, 2025 and December 31, 2024, respectively; 0 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively	—	—	—	21	—
Preferred stock, $0.0001 par value; 5,000 shares authorized: Series A Convertible Preferred Stock, $0.0001 par value; 0 shares and 1,000 shares designated at December 31, 2025 and December 31, 2024, respectively, 0 shares and 1,000 shares issued and outstanding at December 31, 2025 and at December 31, 2024, respectively	—	—	—	—	—
Common stock, $0.0001 par value; 300,000 shares authorized, 77,740 and 44,784 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively	8,000	4,000	—	3,000	2,000
Additional paid-in capital	1,217	927	—	882	785
Accumulated other comprehensive income	5	—	—	13,000	—
Accumulated deficit	−1,165	−956	—	−825	−738
Total stockholders' equity (deficit)	57	−29	—	57	47
Total liabilities, convertible preferred stock and stockholders' equity	246	102	—	150	95

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net loss	−209	−131	−87	−74	−71
Depreciation	30,000	26,000	62,000	100,000	200,000
Amortization of acquired intangible assets	698,000	—	—	—	—
Non-cash operating lease cost	−81,000	−175,000	−175,000	−154,000	—
Stock-based compensation expense	9	7	6	6	8
Amortization of deferred financing costs, debt discounts and premiums and discounts on available-for-sale marketable securities	29,000	−5,000	−1	228,000	9
Change in fair value of preferred stock tranche liability	—	−4	−3	—	—
Non-cash change in fair value of Notes	7	—	—	—	—
Accounts receivable, net	−9	—	31,000	485,000	−277,000
Grant receivable	—	−200,000	—	—	—
Inventory	−2	—	—	—	—
Prepaid expenses, other current assets and other assets	−3	−596,000	−6	744,000	−2
Accounts payable	8	−3	2	3	623,000
Accrued expenses and other liabilities	31	8	3	−638,000	2
Deferred liabilities	—	−327,000	−383,000	710,000	—
Net cash used in operating activities	−138	−105	−86	−64	−54
Purchases of property and equipment	—	−28,000	—	—	−196,000
Purchases of intangible assets	−10	—	—	—	—
Purchases of investments	—	—	−96	−18	−86
Maturities of investments	—	60	52	84	87
Net cash (used in) provided by investing activities	−10	60	−44	66	87,000
Proceeds from the issuance of common stock and pre-funded warrants, net	197	14	91	27	7
Proceeds from the issuance of warrants	—	40	—	—	—
Proceeds from issuance of Series B Convertible Preferred Stock, net	—	—	28	—	—
Proceeds from exercise of warrants	34	875,000	—	—	—
Proceeds from long-term debt	75	—	15	24	1
Repayment of long-term debt	−43	—	−300,000	—	—
Payments for loan amendment	—	−150,000	—	—	—
Repayment of 2018 Notes	—	—	−300,000	—	—
Proceeds from insurance premium financing	1	1	1	—	—
Payments on insurance premium financing	−1	−1	−1	—	—
Proceeds from the exercise of stock options and employee stock purchase program	116,000	241,000	57,000	282,000	1
Net cash provided by financing activities	263	55	134	52	7
Increase in cash, cash equivalents and restricted cash	116	10	3	54	−47
Cash paid for interest	6	4	3	2	1
Cash paid for income tax expense	185,000	—	—	—	—
Purchases of property and equipment included in accounts payable and accrued expenses	—	—	7,000	—	—
Issuance costs included in accounts payable and accrued expenses	—	32,000	—	—	—
Conversion of warrant liability into additional paid-in capital upon warrant exercise	50	545,000	—	—	—
Right of use asset obtained in exchange for operating lease liability	—	988,000	—	—	—
Purchases of intangible asset in accounts payable and accrued expenses	8	—	—	—	—

Filings

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Frequently asked questions

What is Verastem, Inc.'s CIK number?

Verastem, Inc.'s SEC CIK number is 0001526119 (1526119). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find Verastem, Inc.'s SEC filings?

All of Verastem, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did Verastem, Inc. last report earnings?

Verastem, Inc. (VSTM) most recently filed an earnings 8-K with the SEC on Feb 4, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001104659-26-010036). This is Verastem, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.

What is Verastem, Inc.'s most recent earnings 8-K?

Verastem, Inc.'s latest earnings 8-K (Item 2.02) was filed Feb 4, 2026 under accession 0001104659-26-010036. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

View Verastem, Inc.'s latest earnings 8-K →
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