Verastem Oncology (Nasdaq: VSTM) Stock Rallies After Positive Updated RAMP 201 Data
This morning investors are going to be keen about stocks that made strong gains yesterday, and one of the stocks worth tracking could be Verastem Oncology (Nasdaq: VSTM), which delivered 21% gains on Monday.
What Happened?
The biopharmaceutical company came into focus after it released the updated data from the Phase 2 RAMP 201 clinical trial related to the evaluation of a combination of avutometinib and defactinib. In the news release, Verastem Oncology described the product as an oral MEK/RAF clamp and defactinib as an oral selective FAK inhibitor. The combination is aimed at helping patients suffering from recurring LGSOC (low-grade serous ovarian cancer).
Key Details
The data was initially released in the form of an abstract; however, the company noted that further details were going to be presented yesterday at an event. The event was the International Gynecologic Cancer Society’s (IGCS) 2024 Annual Meeting that was being held in Dublin, Ireland, and the company stated that the details were going to be furnished at the oral plenary session.
Perhaps more importantly, the initial analysis from the RAMP 201 trial revealed that there was a confirmed overall response rate. The cutoff date for the data had been June 30, 2024. Considering the rally that was seen in the stock on Monday, it is likely that the Verastem stock could be on the radars of investors this morning.
Management Comment
“The notable response rates and low discontinuation rate seen with the combination of avutometinib and defactinib are significant. These updated results confirm the potential of this new combination therapy to change practice and be the new standard for care for recurrent low-grade serous ovarian cancer, which previously had limited effective treatment options,” said Professor Susana Banerjee, M.B.B.S., M.A., Ph.D., F.R.C.P., Global Lead Investigator of the study, Consultant Medical Oncologist at The Royal Marsden NHS Foundation Trust, and Team Leader in Women’s Cancers at The Institute of Cancer Research, London.
Traders Notes
| +/- EMA(20) | 3.01 (+15.61%) |
| +/- SMA(50) | 2.72 (+27.94%) |
| +/- SMA(200) | 7.06 (-50.71%) |
| 5-Day Perf. | +11.18% |
| 1-Month Perf. | +20.83% |
| 3-Month Perf. | +1.75% |
| 6-Month Perf. | -64.27% |
| YTD Perf. | -57.25% |
| 1-Year Perf. | -52.59% |
| RSI(14) | 61.72 |
| ATR(14) | 0.28 |
| ADX(14) | 32.58 |
| Beta (5Y) | 1.41 |
