Verastem Inc., a biopharmaceutical company, released its financial results for the first quarter of 2025, reporting a net loss of $52.1 million, or $0.96 per share, compared to a net loss of $33.9 million, or $1.26 per share, in the same quarter of 2024. The non-GAAP adjusted net loss for the 2025 quarter was $42.9 million, or $0.79 per share, compared to a non-GAAP adjusted net loss of $26.2 million, or $0.98 per share, for the 2024 quarter. The company ended the first quarter with cash, cash equivalents, and investments totaling $117.6 million. Taking into account $75 million raised in a private placement in April 2025, the pro forma cash and cash equivalents were $192.6 million as of March 31, 2025. Total operating expenses for the first quarter of 2025 were reported at $44.2 million, inclusive of $6.8 million in one-time charges, up from $28.1 million in the first quarter of 2024. In terms of business operations, Verastem strengthened its financial position by raising approximately $75 million through a private placement of common stock and pre-funded warrants. Additionally, the company reported progress in its pipeline programs, including early licensing of VS-7375 and ongoing clinical trials for pancreatic and lung cancers.
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