Verastem: 2Q Earnings Snapshot
NEEDHAM, Mass. (AP) _ Verastem Inc. (VSTM) on Thursday reported a loss of $42.2 million in its second quarter.
The Needham, Massachusetts-based company said it had a loss of 57 cents per share. Losses, adjusted for stock option expense and non-recurring costs, came to 48 cents per share.
The drug developer posted revenue of $3.1 million in the period.
In the final minutes of trading on Thursday, the company’s shares hit $1.59. A year ago, they were trading at $7.74.