Verastem Oncology to Join Russell 3000 ® Index
Verastem, Inc. (Nasdaq:VSTM), the Company or Verastem Oncology, a biopharmaceutical company focused on developing and
commercializing medicines to improve the survival and quality of life of cancer patients, today announced that the Company will
join the broad-market Russell 3000® Index at the conclusion of the Russell US Indexes annual reconstitution, effective
upon the US market open on Monday, June 25, 2018.
The annual Russell US Indexes reconstitution captures the 4,000 largest US stocks as of May 11, ranking them by total market
capitalization. Membership in the Russell 3000® Index, which remains in place for one year, means automatic inclusion in
the large-cap Russell 1000® Index or small-cap Russell 2000® Index as well as the appropriate growth and
value style indexes. FTSE Russell determines membership for its Russell US Indexes primarily by objective, market-capitalization
rankings and style attributes.
Russell US Indexes are widely used by investment managers and institutional investors as the basis for index funds and as
benchmarks for active investment strategies. Approximately $9 trillion in assets are benchmarked against Russell US Indexes.
Russell US Indexes are part of FTSE Russell, a leading global index provider.
For more information on the Russell 3000® Index and the Russell US Indexes reconstitution, go to the “Russell Reconstitution”
section on the FTSE Russell website.
About Verastem Oncology
Verastem, Inc. (Nasdaq:VSTM), operating as Verastem Oncology, is a biopharmaceutical company focused on developing and
commercializing medicines to improve the survival and quality of life of cancer patients. Verastem Oncology is currently developing
duvelisib, a dual inhibitor of phosphoinositide 3-kinase (PI3K)-delta and PI3K-gamma, which has successfully met its primary
endpoint in a Phase 2 study in indolent Non-Hodgkin Lymphoma (iNHL) and a Phase 3 clinical trial in patients with chronic
lymphocytic leukemia/small lymphocytic lymphoma (CLL/SLL). Verastem Oncology’s New Drug Application (NDA) requesting the full
approval of duvelisib for the treatment of patients with relapsed or refractory CLL/SLL, and accelerated approval for the treatment
of patients with relapsed or refractory follicular lymphoma (FL) was accepted for filing by the U.S. Food and Drug Administration
(FDA), granted Priority Review and assigned a target action date of October 5, 2018. In addition, Verastem Oncology is developing
the focal adhesion kinase (FAK) inhibitor defactinib, which is currently being evaluated in three separate clinical collaborations
in combination with immunotherapeutic agents for the treatment of several different cancer types, including pancreatic cancer,
ovarian cancer, non-small-cell lung cancer (NSCLC), and mesothelioma. Verastem Oncology’s product candidates seek to treat cancer
by modulating the local tumor microenvironment and enhancing anti-tumor immunity. For more information, please visit www.verastem.com.
Forward-looking statements notice:
This press release includes forward-looking statements about Verastem Oncology’s strategy, future plans and prospects, including
statements regarding the development and activity of Verastem Oncology’s investigational product candidates, including duvelisib
and defactinib, and Verastem Oncology’s PI3K and FAK programs generally, the structure of our planned and pending clinical trials,
Verastem Oncology’s financial guidance and the timeline and indications for clinical development and regulatory submissions. The
words "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "predict," "project," "target," "potential," "will,"
"would," "could," "should," "continue," and similar expressions are intended to identify forward-looking statements, although not
all forward-looking statements contain these identifying words. Each forward-looking statement is subject to risks and
uncertainties that could cause actual results to differ materially from those expressed or implied in such statement. Applicable
risks and uncertainties include the risks that approval of Verastem Oncology’s New Drug Application for duvelisib will not occur on
the expected timeframe or at all, including by the U.S. Food and Drug Administration’s target action date; that a filing of a
European Marketing Application may not be achieved in fiscal year 2019 or at all; that even if data from clinical trials is
positive, regulatory authorities may require additional studies for approval or may approve for indications or patient populations
that are not as broad as intended and the product may not prove to be safe and effective or may require labeling with use or
distribution restrictions; that the preclinical testing of Verastem Oncology’s product candidates and preliminary or interim data
from clinical trials may not be predictive of the results or success of ongoing or later clinical trials; that the full data from
the DUO study will not be consistent with the previously presented results of the study; that data may not be available when
expected, including for the Phase 3 DUO study; that the degree of market acceptance of product candidates, if approved, may be
lower than expected; that the timing, scope and rate of reimbursement for our product candidates is uncertain; that there may be
competitive developments affecting our product candidates; that data may not be available when expected; that enrollment of
clinical trials may take longer than expected; that our product candidates will cause unexpected safety events or result in an
unmanageable safety profile as compared to their level of efficacy; that duvelisib will be ineffective at treating patients with
lymphoid malignancies; that Verastem Oncology will be unable to successfully initiate or complete the clinical development and
eventual commercialization of its product candidates; that the development and commercialization of Verastem Oncology’s product
candidates will take longer or cost more than planned; that Verastem Oncology may not have sufficient cash to fund its contemplated
operations; that Verastem Oncology or Infinity Pharmaceuticals, Inc. will fail to fully perform under the duvelisib license
agreement; that Verastem Oncology may be unable to make additional draws under its debt facility or obtain adequate financing in
the future through product licensing, co-promotional arrangements, public or private equity, debt financing or otherwise; that
Verastem Oncology will not pursue or submit regulatory filings for its product candidates, including for duvelisib in patients with
CLL/SLL or iNHL; and that Verastem Oncology’s product candidates will not receive regulatory approval, become commercially
successful products, or result in new treatment options being offered to patients. Other risks and uncertainties include those
identified under the heading "Risk Factors" in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017 as
filed with the Securities and Exchange Commission (SEC) on March 13, 2018 and in any subsequent filings with the SEC. The
forward-looking statements contained in this press release reflect Verastem Oncology’s views as of the date hereof, and the Company
does not assume and specifically disclaims any obligation to update any forward-looking statements whether as a result of new
information, future events or otherwise, except as required by law.
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Verastem Oncology, Inc.
Marianne M. Lambertson, +1 781-292-4273
Vice President, Corporate Communications
Investor Relations/Public Relations
mlambertson@verastem.com
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