Verastem (VSTM) reported earnings on May 9th after the close of the American market and proceeded to plunge 28% during Friday's trading session. What was the cause of this selloff? Here are three big takeaways from the earnings report and a discussion on why I am cautiously optimistic.
- Chief Commercial Officer Joseph Lobacki is stepping away from the company
- Copiktra (duveslisib) revenue missed revenue estimates by $1.15 million, with only $1.67 million in revenue for the first quarter
- The company provided weaker than expected Copiktra revenue of just $10 . . .