Verastem Stock Slips 6% On Stock, Warrants Offering

(RTTNews) - Biopharmaceutical company Verastem, Inc. (VSTM) announced on Thursday that it plans to offer and sell shares of its common stock and pre-funded warrants in an underwritten public offering.

Thursday, after hours the stock fell to $10.15 in the after-trading hours, down 6.19% or $0.67 a share, on The New York Stock Exchange.

The company also said that it will be selling all of the securities in the proposed offering.

Proceeds from the offering will be used for continued research and development of its product candidates, the potential launch of avutometinib and defactinib in low-grade serous ovarian cancer, and for general corporate purposes.