Why Verastem Stock Rocketed Higher Today [The Motley Fool]
Verastem, Inc. (VSTM)
Last verastem, inc. earnings: 10/29 04:17 pm
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US:NASDAQ Investor Relations:
verastem.com
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Source: The Motley Fool
A rate secondary offering with no discount gives investors the confidence to hit the buy button. Brian Orelli ( TMFBiologyFool ) Jun 15, 2018 at 4:35PM What happened Shares of Verastem ( NASDAQ:VSTM ) are up 16% in late-day trading on Friday after the company announced yesterday after the bell that it was selling 7,166,666 shares at $6 per share, grossing the biotech approximately $43 million. So what Share prices typically -- though clearly not always -- go down after a secondary offering is announced, since current investors are being diluted; with the added shares sold in the offering, each current share now corresponds to a smaller slice of the overall pie. The investors buying the secondary offering also usually want a discount to the current share price, which pushes the following-day opening price down as well. That's what happened
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VSTM
News
- Verastem Oncology Announces Appointment of John Hayslip, M.D., to Chief Medical Officer [Yahoo! Finance]Yahoo! Finance
- Verastem Oncology Announces Appointment of John Hayslip, M.D., to Chief Medical OfficerBusiness Wire
- Orna Therapeutics Appoints Frank Neumann, M.D., Ph.D., as Chief Medical Officer [Yahoo! Finance]Yahoo! Finance
- MPM BioImpact Appoints Frank Neumann, M.D., Ph.D., Distinguished Expert in Clinical Development, as Entrepreneur Partner [Yahoo! Finance]Yahoo! Finance
- GenFleet Therapeutics Announces Potent Anti-tumor Efficacy of GFH375, an Oral KRAS G12D (ON/OFF) Inhibitor, and its Potential in Combination Therapy with RAF/MEK Clamp at 2024 AACR Annual MeetingPR Newswire
VSTM
Earnings
- 3/14/24 - Miss
VSTM
Sec Filings
- 4/12/24 - Form DEF
- 4/9/24 - Form 8-K
- 4/8/24 - Form 4
- VSTM's page on the SEC website