Boston, MA 06/14/2013 (wallstreetpr) – The share prices of Verastem Inc (NASDAQ:VSTM) had increased by 17.58 percent on Thursday breaching the day high value of the latest trading day to reach the price of $ 11.46. Verastem Inc (NASDAQ:VSTM) has got the 52 week low price of $ 6.25 and a high price of $12.00. The market capital of Verastem Inc (NASDAQ:VSTM) is 243.98 million with total outstanding share s of over 21 million. The institutional investors hold more than 69 percent of shares in Verastem Inc (NASDAQ:VSTM).
Verastem Inc (NASDAQ:VSTM) is a biopharmaceutical company based out of United States which is developing drugs to treat cancer by targeting the cancer stem cells. Verastem Inc (NASDAQ:VSTM) had received the Orphan Medical Product Designation for VS-6063 from the European Commission. VS-6063 was used for treating the devastating disease called Mesothelioma. The designation was provided to Verastem Inc (NASDAQ:VSTM) to enhance the drug development for rare diseases which will of significant help to the sufferers.
Verastem Inc (NASDAQ:VSTM)’s management team had presented their discovery in various conferences including Chinabio partnering Forum, Jefferies 2013 Global Healthcare Conference and Boston CEO conference . Verastem Inc (NASDAQ:VSTM) will use the results to support the planned clinical development of VS-5584 at ASCO. During the preclinical study, healthy samples from volunteers are incubated with VS-5584 and biomarkers were incorporated to monitor the activity of VS-5584 in the pre and post clinical development.
Verastem Inc (NASDAQ:VSTM) had announced the senior management changes where the President and Chief Operating Officer, will be named as President, Chief Executive Officer and a Director and secondly Chairman and Chief Executive Officer, will be named as Executive Chairman.The Orphan Medical Product Designation received by Verastem Inc (NASDAQ:VSTM) will enable to have a potential market for around ten years if it is approved or the marketing in European Union.
