Verastem Oncology Reports Q2 2025 Earnings, $2.1M in Net Product Revenue for AVMAPKI

Verastem Oncology reported Q2 2025 financial highlights, including total revenue of $2.1 million, down from $10 million in the previous year, primarily due to the absence of a one-time milestone payment. Operating expenses increased to $45.9 million, driven by higher research and development and selling, general, and administrative costs. The company ended the quarter with $164.3 million in cash and cash equivalents, providing a cash runway into the second half of 2026. Key strategic highlights include the FDA approval and successful launch of AVMAPKI for KRAS-mutated recurrent low-grade serous ovarian cancer, dosing the first patient in a U.S. trial for VS-7375, and progress in the RAMP 205 trial for metastatic pancreatic cancer.

Verastem Oncology (Nasdaq: VSTM), a biopharmaceutical company focused on advancing new medicines for patients with RAS/MAPK pathway-driven cancers, reported its second quarter (Q2) 2025 financial results and strategic updates. The company ended the quarter with total revenue of $2.1 million, down from $10.0 million in the same period last year. This decrease was primarily due to the absence of a one-time milestone payment [1].

Operating expenses increased to $45.9 million for the quarter, up from $28.3 million in the previous year. The increase was driven by higher research and development and selling, general, and administrative costs. Despite the increase in expenses, Verastem ended the quarter with $164.3 million in cash and cash equivalents, providing a cash runway into the second half of 2026 [1].

Key strategic highlights for the quarter include the FDA approval and successful launch of AVMAPKI™ FAKZYNJA™ CO-PACK (avutometinib in combination with defactinib) for the treatment of adult patients with KRAS-mutated recurrent low-grade serous ovarian cancer (LGSOC). The company achieved net product revenue of $2.1 million in the first six weeks of launch, and AVMAPKI FAKZYNJA CO-PACK is now available through a distribution network in the U.S. that includes specialty pharmacies, specialty distributors, and group purchasing agreements [1].

Verastem also announced the dosing of the first patient in the U.S. trial for VS-7375, an oral KRAS G12D (ON/OFF) inhibitor, in KRAS G12D advanced solid tumors. The company received Fast Track Designation (FTD) from the FDA for VS-7375, highlighting its potential as a best-in-class oral KRAS G12D (ON/OFF) inhibitor for the first-line treatment of patients with KRAS G12D-mutated locally advanced or metastatic adenocarcinoma of the pancreas (PDAC) and for patients with KRAS G12D-mutated locally advanced or metastatic PDAC who have received at least one prior line of standard systemic therapy [1].

Additionally, Verastem reported positive updated safety and efficacy results from the RAMP 205 Phase 1/2 trial evaluating avutometinib plus defactinib in combination with gemcitabine and Nab-paclitaxel in the front-line setting for patients with metastatic PDAC. The study achieved a confirmed overall response rate (ORR) of 83% (10/12) in the dose level 1 cohort, which was selected as the recommended Phase 2 dose (RP2D) [1].

Verastem is expected to continue building on these strategic milestones in the second half of 2025, including reporting the outcome of the IDMC’s sample-size re-estimation recommendation for RAMP 301, initial data from the RAMP 201J Phase 2 clinical trial being conducted in Japan, and advancing the regulatory pathway in Japan and Europe [1].

References:
[1] Verastem Oncology. (2025). Verastem Oncology Reports Second Quarter 2025 Financial Results. Retrieved from https://investor.verastem.com/news-releases/news-release-details/verastem-oncology-reports-second-quarter-2025-financial-results