Why Verastem Stock Jumped Briefly This Morning

Evan Niu, CFA, The Motley Fool

10 August 2020 at 4:59 pm·2-min read

Why Verastem Stock Jumped Briefly This Morning

Shares of Verastem (NASDAQ: VSTM) jumped by as much as 11% this morning after the company reported second-quarter earnings and announced a deal to sell development rights to a drug. Verastem also said it had entered into a definitive agreement to sell its global commercial and development rights to COPIKTRA (duvelisib) to Secura Bio in a deal worth up to $311 million. "The first half of 2020 has been a time of transformational change at Verastem Oncology," CEO Brian Stuglik said in a statement.

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