Verastem raises $250M as KRAS inhibitor shows promise in pancreatic cancer

On October 14, 2026, Verastem Oncology announced positive Phase 1/2 data for its KRAS G12D inhibitor VS-7375 in pancreatic cancer, demonstrating a 41% response rate at the 900 mg dose. Alongside the trial results, Verastem raised $250 million through a stock offering to fund operations into 2028 and announced CEO Dan Paterson will step down at year-end, to be succeeded by Michael Bailey as the company prepares for Phase 3 trials.

Verastem raises $250 million stock offering

• ▪CEO Dan Paterson said Verastem Oncology expects the $250 million stock offering announced October 14, 2026, to extend its operational funding cash runway well into 2028
• ▪Verastem Oncology announced on October 14, 2026 that it is raising $250 million through a stock offering to finance the development of VS-7375

Phase 1/2 trial results for VS-7375 in pancreatic cancer

• ▪In a Phase 1/2 study of VS-7375, Verastem Oncology reported a 41% response rate among second-line or later pancreatic cancer patients receiving a 900 mg dose, including one confirmed and one unconfirmed complete response
• ▪Verastem Oncology reported that 16 of 22 pancreatic cancer patients receiving VS-7375 remained on treatment at six months in its Phase 1/2 trial

Mechanism and target of VS-7375

• ▪KRAS G12D is the most common KRAS mutation in pancreatic cancer, present in approximately 40% of pancreatic cancer cases
• ▪VS-7375 is engineered to target the KRAS G12D mutation by binding to both the active 'on' and inactive 'off' states of the protein

Upcoming Phase 3 trials for VS-7375

• ▪Verastem Oncology plans to begin enrolling patients in Phase 3 trials of VS-7375 for colorectal cancer and non-small cell lung cancer during the first half of 2027
• ▪Verastem Oncology has aligned with the FDA to initiate a Phase 3 trial of VS-7375 in first-line pancreatic cancer by the end of 2026

VS-7375 trials in other cancers

• ▪Verastem Oncology is running Phase 2 clinical trials of VS-7375 in lung, colorectal, and pancreatic cancers to seek accelerated drug approvals
• ▪In early Phase 1/2 data across other cancers, VS-7375 achieved a 43% response rate in 23 lung cancer patients and showed responses in two of six colorectal cancer patients

Licensing and partnership with GenFleet Therapeutics

• ▪GenFleet Therapeutics is developing VS-7375 in China and initiated a registrational clinical trial for the drug in late 2025
• ▪Verastem Oncology licensed the experimental KRAS G12D inhibitor VS-7375 through a 2023 agreement with Shanghai-based GenFleet Therapeutics

Revolution Medicines KRAS inhibitors

• ▪Revolution Medicines received FDA approval for Rasonque in August 2026, but FDA documents revealed less robust efficacy in KRAS G12D-mutated tumors compared to other G12 mutations
• ▪Revolution Medicines is also developing zoldonrasib, an experimental drug specifically designed to target the KRAS G12D mutation