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Verastem Prices Secondary Offering- Shares down 10 Percent (VSTM)

Shares of Verastem (NASDAQ: VSTM) announced that it had priced its 3.7 million share secondary offering at $15 per share. The net proceeds are expected to raise about $51.9 million after deducting expenses.

Verastem is a $360 million company focused on discovering and developing drugs to treat cancer by the targeted killing of cancer stem cells.

The offering price is well below the company’s Tuesday closing price of $16.94.

[stock-tools exchange="NASDAQ" symbol="VSTM" image_height="230" image_width="350"]

Disclosure: At the time of this writing, the author had no position in the company mentioned.

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