Verastem's VS-6766/Defactinib Combo Gets Breakthrough Therapy Tag For Ovarian Cancer; BTIG Upgrades Stock

The FDA has granted Breakthrough Therapy designation to Verastem Inc (NASDAQ: VSTM) for the combination of its investigational VS-6766, with defactinib, for recurrent low-grade serous ovarian cancer (LGSOC) regardless of KRAS status after one or more prior lines of therapy, including platinum-based chemotherapy.
The combination is being evaluated in the Phase 1/2 FRAME trial.
In the most recent read-out from the FRAME LGSOC cohort (n=24), the overall response rate (ORR) is 52%, with KRAS mutant ORR at 70%, KRAS wild-type ORR 44%, and KRAS status undetermined ORR at 0%.
The most common side effects seen in the study were mild or moderate rash, creatine kinase elevation, nausea, hyperbilirubinemia, and diarrhea.
Breakthrough Therapy designation allows for the expedited development and review of drugs.
BTIG has upgraded VSTM to Buy with an $8 price target.
Price Action: VSTM shares are up 16.8% at $3.73 on the last check Monday.
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