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-0.00283693949273825 -0.00129144260490325 -0.0017783799805225 -0.0017783799805225 -0.00283693949273825 -0.00442477876106179 -0.0240081297370537 -0.0240081297370537
Stock impact report

Why Verastem Stock Is Plunging Today [The Motley Fool]

Verastem, Inc. (VSTM) 
Last verastem, inc. earnings: 10/29 04:17 pm Check Earnings Report
US:NASDAQ Investor Relations: verastem.com
Company Research Source: The Motley Fool
The biotech is raising cash ahead of a potential launch of its first drug. Brian Orelli ( TMFBiologyFool ) May 16, 2018 at 12:48PM What happened Shares of Verastem   ( NASDAQ:VSTM ) are plunging today, down 11% as of 11:53 a.m. EDT, after the company announced that it sold 7,777,778 shares at $4.50 per share in a secondary offering, a substantial discount to yesterday's closing price of $5.24. Image source: Getty Images. So what Shares of Verastem have been on a tear over the last week for no apparent reason, which likely explains why management decided to raise capital. The higher the selling price, the less current investors are diluted. VSTM data by YCharts . The secondary offering will gross Verastem $35 million with the possibility of raising another $5.25 million if the underwriters use their option to purchase addition Show less Read more
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