Verastem, Inc. (VSTM) Earnings
Verastem, Inc. is expected to report next earnings on August 6, 2026 (in NaN days), with a consensus EPS estimate of $-0.45. VSTM has beaten EPS estimates in 3 of its last 11 reported quarters (average surprise -28.2% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $-0.46 | $-0.46 | +0.0% | $19M | -12.9% |
| Mar 4, 2026 | $-0.49 | $-0.50 | -2.0% | $18M | -16.6% |
| Nov 4, 2025 | $-0.51 | $-1.35 | -164.7% | $11M | -32.0% |
| Aug 7, 2025 | $-0.85 | $-0.39 | +54.1% | $2M | -62.5% |
| Mar 20, 2025 | $-0.81 | $-1.33 | -64.2% | $10M | +6550.7% |
| Aug 8, 2024 | $-1.06 | $-0.31 | +70.8% | $10M | +19900.0% |
| May 9, 2024 | $-1.16 | $-1.26 | -8.6% | — | — |
| Mar 14, 2024 | $-0.82 | $-1.02 | -24.4% | $114000 | -97.8% |
| Mar 14, 2023 | $0.10 | $-0.96 | -1060.0% | $3M | — |
| Nov 3, 2022 | $-1.44 | $-1.08 | +25.0% | — | — |
| Nov 4, 2021 | $-1.08 | $-1.56 | -44.4% | $2000 | +9.1% |
| Mar 18, 2021 | — | $-1.44 | — | $506000 | — |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 7, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- Commercial: Launched Jocopac (AVMAP defects in Jocopac) for KRAS-mutated recurrent low-grade serous ovarian cancer in May 2025, with $18.7 million net product revenue in Q1 and nearly $50 million total to date. Conducted focused review of launch performance, implemented changes to commercial organization, appointed new chief commercial officer Dan Lyons. New patient starts consistent, prescriber base growing, reimbursement favorable. - R&D: VS7375 Target D 101 Phase 1-2 dose escalation and expansion trial underway. Initiated Phase 2 registration-directed clinical trials in second-line pancreatic cancer, second and third line non-small cell lung cancer, and second line plus metastatic colorectal cancer. Avudametinib plus defactinib program on track to report RAF205 study update in first-line PDAC by end of Q2. - Financial: Focus on managing expenses, LJSOC franchise expected to be self-sustaining in second half of 2026 with COPAC revenues funding commercial ops and clinical trials.
Guidance
- Confidence in underlying demand and opportunity for COPAC remains unchanged. - Expect SG&A expenses to remain roughly the same quarterly in 2026. - Believes LJSOC franchise will be self-sustaining in second half of 2026 with COPAC revenues funding commercial operations and avutametinib plus defactonib clinical trials. - Goal to drive strong execution across commercial launch, move phase two trials towards potential registrations, determine appropriate VS7375 combinations for frontline strategies, and maintain disciplined capital management while identifying non-dilutive financial opportunities.
Segment performance
In Q1 2026, VeriSTEM Oncology achieved $18.7 million in net product revenue from the COPAC. Revenue contribution from the COPAC is significant. R&D expenses were $38.2 million, SG&A expenses were $22.3 million. Cash, cash equivalents and investments ended the first quarter at $181.7 million.
Analyst Q&A
Q: On 7375, what do potential partners need to see from phase one or early phase two data sets?
A: Competitiveness, significant data from U.S. showing tolerable administration, combinability, and efficacy to be best in class.
Q: Can you be more granular on revenue for COPAC franchise self-sustainability?
A: SG&A expenses increase per quarter pre-commercial was ~$10 - $15M, R&D related to A plus F programs ~$10 - $15M per quarter, RAP 301 trial at full accrual so spend likely to come down.
Q: How do patients in U.S. study of 7375 compare to GenFleet Phase 1 study?
A: Tolerability in U.S. has been substantially better, no significant liver dysfunction, hematologic changes or cumulative toxicities. Responses take time, first response at 6 - 8 weeks after dosing.
Q: Decision process for Part A and Part B in 7375 Phase II 201 study?
A: Expect 900mg to be good for both monotherapy and combination, intend to pull parts A and B, both cohorts important as cetuximab rash manageable.
Q: Can you license multi-RAS from GenFleet?
A: Other two programs not officially part of original collaboration, continue discussions, consider it if differentiated and preferred path.
Q: How will commercial strategy evolve for A plus F?
A: Added sales positions, increased calls to patients, reinforced messaging from SGO meeting, rolled out new campaign, reinforced importance of early treatment.
Q: Cadence of readouts for 7375?
A: All three indications moving forward in parallel, phase two studies largely accrued by end of year, first half update shows enrollment progress, mature safety data, patient cases; latter half more comprehensive data set.
Q: Brain metastases in 7375 non-small cell lung cancer study?
A: Drug penetrates brain, 900mg higher dose to see if can control brain mets.
Q: Incremental efficacy of 7375 plus EGFR inhibitors in PDAC?
A: Potential for higher response rate and durability, mechanism of action to block accessory growth pathway, provides flexibility.
Q: Why 900mg is go-forward dose for 7375?
A: 1200mg impractical with current pill size, 900mg delivers serum levels at or above target, supports efficacy.
Q: Reimbursement for ANF and anecdotes of long-term treatment?
A: Reimbursement for KRAS, KRAS undefined and KRAS wild type continuing at similar rates. Have anecdotes of patients on treatment for over eight or nine months with positive outcomes.