Verastem,Inc. (NASDAQ:VSTM) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

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Verastem,Inc. (NASDAQ:VSTM) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On May 2, 2017, Verastem, Inc. (the “Company”) announced two changes to the Company’s board of directors (the “Board of Directors”).

(b) Departure of Director.

On April 27, 2017, Dr. Paul Friedman resigned from the Board of Directors effective as of April 27, 2017. Dr. Friedman will serve as a member of the Company’s Clinical and Scientific Advisory Board going forward.

(d) Election of Director.

On May 1, 2017, the Board of Directors unanimously voted to elect Dr. Eric Rowinsky as a director of the Company effective as of May 3, 2017. Dr. Rowinsky will serve as the chair of the nominating and corporate governance committee of the Board of Directors.

In connection with his election as a director, Dr. Rowinsky will be eligible to receive certain annual cash retainer fees and an annual stock option grant under the Company’s director compensation policy. Dr. Rowinsky also entered into a customary indemnification agreement with the Company.

A press release announcing Dr. Rowinsky’s appointment is filed as Exhibit 99.1 hereto.

Item 9.01. Financial Statements and Exhibits.

See Exhibit Index attached hereto.


About Verastem, Inc. (NASDAQ:VSTM)

Verastem, Inc. is a biopharmaceutical company. The Company is focused on discovering and developing drugs to improve outcomes for patients with cancer. The Company operates in the segment of developing drugs for the treatment of cancer. The Company’s advanced product candidates are VS 6063, VS 4718 and VS 5584. The Company’s programs target the Focal Adhesion Kinase (FAK) and the PI3K/mTOR signaling pathways. FAK is a non-receptor tyrosine kinase encoded by the PTK-2 gene that is involved in cellular adhesion and, in cancer, metastatic capability. The Company’s VS-6063 (defactinib) and VS 4718 are orally available small molecule compounds designed to inhibit FAK signaling. The Company’s VS-5584 is an orally available small molecule that inhibits both mTORC1/2 and PI3K signaling. The Company is engaged in running clinical trials in cancers where there are limited treatment options, including lung, ovarian, lymphoma, pancreatic and other advanced cancers.

Verastem, Inc. (NASDAQ:VSTM) Recent Trading Information

Verastem, Inc. (NASDAQ:VSTM) closed its last trading session up +0.22 at 2.16 with 921,401 shares trading hands.