Verastem Oncology plans for stock and warrants offering
Verastem Oncology (NASDAQ:VSTM) plans to offer and sell common stock and pre-funded warrants in an underwritten public offering, the company said Thursday.
The underwriters are expected to have a 30-day option to purchase up to an additional 15% of the company's common stock.
The company said it will be selling all of the securities in the proposed offering.
RBC Capital Markets and Cantor are acting as joint book-running managers and representatives of the underwriters.
Net proceeds are expected to 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 general corporate purposes.
Shares -9% at $9.85 after hours.