Verastem Announces Establishment of Stock Purchase Plan by Chief Executive Officer
Verastem, Inc., (NASDAQ: VSTM) a clinical-stage biopharmaceutical company focused on discovering and developing drugs to treat cancer by the targeted killing of cancer stem cells, announced that Christoph Westphal, M.D., Ph.D., Chairman and Chief Executive Officer, has established a pre-arranged personal stock purchasing plan to acquire shares of the Company's common stock.
The purchasing plan is intended to comply with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended, which enables securities holders to adopt pre-arranged stock purchasing plans for the acquisition of predetermined amounts of securities on a non-discretionary basis. The transactions under this purchasing plan will commence no earlier than December 21, 2012, and will be disclosed publicly through Form 4 filings with the Securities and Exchange Commission.
Verastem, Inc. (NASDAQ: VSTM) is a clinical-stage biopharmaceutical company focused on discovering and developing drugs to treat cancer by the targeted killing of cancer stem cells. Cancer stem cells are an underlying cause of tumor recurrence and metastasis. Verastem is developing small molecule inhibitors of signaling pathways that are critical to cancer stem cell survival and proliferation: FAK, PI3K/mTOR and Wnt. For more information, please visit .
This press release includes forward-looking statements about the Company’s strategy, future plans and prospects. The Company anticipates that subsequent events and developments will cause the Company’s views to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so.