Last Updated on January 16, 2019 by Sultan Beardsley
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- Verastem Oncology (Nasdaq: VSTM) is up 7.18% on trading at $4.33 on moderate volume of 12.82K shares traded.
- Appears the stock is still benefiting from from Inducement Grants offered to new employees and company executives
- A Seeking Alpha article yesterday “A Route Happened, Now What” by Juha Natunen provided a good overview of the highs and lows experienced by VSTM before and after approval VSTM’s PI3K-δ (delta) and PI3K-γ (gamma) inhibitor Copiktra. The article laid out a strong argument for VSTM being a strong value play and having advantages most small biotech companies are lacking.
2. ArQule (Nasdaq: ARQL) is up +3.05% pre-market trading at $3.28 on low volume of 3.23K shares. Today they announced positive interim results from a phase 2 study in partnership with Basilea Pharmaceuticals Ltd. The study investigated the orally administered panfibroblast growth factor recptor (FGFR) kinase inhibitor derazantinib (BAL087). Basilea Pharma (OTCMRTS: BPMUF) is down -2% at $38.65
- A subset of 29 patients out of 42 were evaluable who had at least 1 baseline imaging assessment.
- The objective response rate (ORR) of these patients was 21%.
- The disease control rate (DCR) reflecting the patients who experienced partial responses or with disease stability was 83%.
- Safety data from all 42 patients was consistent with previous studies.
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