Summary
The company got the FDA approval on Duvelisib (COPIKTRA) on 9/24, almost two weeks before deadline. The stock price tanked on a sell the news event.
Next trading day after approval the company announced a Partnership with CSPC Pharma in China, the second largest drug market in the world.
The company is well prepared for immediate commercialization with a large sales force, ~$200M cash and secured business now in the top three, soon four, largest pharma markets.
Verastem is at the moment the cheapest oncology company with a just approved cancer medicine in the US since 2010, presenting a major derisked investing opportunity.
Catalysts since August
(Source: COPIKTRA Approval Slide Presentation)
For people looking for reasons or things they might have missed with stock market movements: the stock market cannot be perfect, since that assumption does not take into account mass psychology.
Aug 14th I wrote about big upcoming catalysts of Verastem (VSTM). As that article was quite comprehensive of the company, I wanted to write a shorter follow up on what has happened and the future.
