Verastem: 3Q Earnings Snapshot
NEEDHAM, Mass. (AP) _ Verastem Inc. (VSTM) on Wednesday reported a loss of $21.7 million in its third quarter.
The Needham, Massachusetts-based company said it had a loss of 29 cents per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 43 cents per share.
The drug developer posted revenue of $15.5 million in the period.
Verastem shares have climbed 91 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $5.85, an increase of 74 percent in the last 12 months.