Today through Tuesday, the annual ASCO meeting takes place in Chicago, where the biotechnology industry reports on its progress in the field of oncology. In addition to industry giants such as $MRNA (-0.34%) and $MRK (+0.58%) , there will also be $RVMD (+1.18%) which are a hot tip. Even more speculative, however, is the stock that has piqued my interest, namely $VSTM (+0.54%) .
The small oncology specialist has already led a product to US approval with the combination therapy Avmapki Fakzynja. The drug is used as a late-line therapy for patients with KRAS mutated, recurrent low-grade serous ovarian cancer (LGSOC). The company earned 18.7 million dollars with the therapy in the first quarter. However, Verastem's current focus is on a drug licensed from GenFleet Therapeutics: VS-7375. The US biotech company controls the rights outside mainland China, Hong Kong, Macau and Taiwan. The research duo is using the promising drug to target various solid tumors with a G12D mutation. Verastem and its Asian partner are primarily targeting pancreatic ductal adenocarcinoma (by far the most common form of pancreatic cancer), non-small cell lung cancer and colorectal cancer. Further results from VS-7375 will be presented at the ASCO meeting. If these are convincing, Verastem's shares certainly have potential.
I will therefore be picking up a few shares today in the USA after the market opens.
