Verastem Oncology Announces $250M Securities Offering
Verastem Oncology (VSTM) announced the pricing of a securities offering expected to raise approximately $250 million in gross proceeds. The company plans to issue 30,937,500 shares at $8.00 per share as part of an underwritten deal. The announcement led to a roughly 20% increase in the stock price during premarket trading on Wednesday. This offering is likely intended to support ongoing operations and development efforts within its biopharmaceutical portfolio.
Topics: biopharmaceutical capital raise stock price movement
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