Verastem (NASDAQ:VSTM) stock is on the rise Monday morning following an announcement from the company concerning a deal with Amgen (NASDAQ:AMGN).
Let’s dive into the deal that has VSTM stock on the move today below!
- The new deal covers a clinical collaboration agreement with Amgen.
- This will have them working together to evaluate the combination of Verastem Oncology’s investigational dual RAF/MEK inhibitor VS-6766 with Amgen’s KRAS G12C inhibitor LUMAKRAS.
- That will have them testing the combination of these two inhibitors in KRAS G12C-mutant non-small cell lung cancer.
- Verastem and Amgen will be conducting a Phase 1/2 trial to accomplish this.
- That goal will be to determine the safety, tolerability and efficacy of VS-6766 in combination with LUMAKRAS.
- It will treat “patients with KRAS G12C-mutant NSCLC who have not been previously treated with a KRAS G12C inhibitor.
- The study will also include patients who have progressed on a KRAS G12C inhibitor.
- Verastem and Amgen are expecting to start this clinical trial by the end of the year.
Brian Stuglik, CEO of Verastem Oncology, said this in the press release boosting VSTM stock today.
“We are pleased to partner with Amgen on this important research that could potentially expand treatment options for patients with KRAS G12C-mutant NSCLC. This collaboration advances our strategy to fully explore the potential of VS-6766 as a backbone of therapy to treat RAS pathway-driven cancers.”
VSTM stock is experiencing heavy trading on today’s news. That has some 26 million shares of the stock traded as of this writing. For perspective, the penny biotech stock’s daily average trading volume is closer to 1.8 million shares.
VSTM stock was up 6.2% as of Monday morning.
There’s more recent stock market news worth checking out below!
We’ve got all the latest stock market coverage that traders need to know about. Among that is what to know about today’s crypto crash, why Zivo Bioscience (NASDAQ:ZIVO) shares are rising, as well as this morning’s pre-market stock movers. You can find all of that info at the following links!
More Stock Market News for Monday
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- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Monday
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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