VSTM Q2 2025: First $2M AVMAPKI Sales, Cash Jumps to $164M

Q: How much revenue did Verastem (VSTM) generate in Q2 2025?

Net product revenue was $2.1 million , the company鈥檚 first commercial sales of AVMAPKI FAKZYNJA.

Q: What is Verastem鈥檚 current cash position?

As of 30 Jun 25, cash and cash equivalents totaled $164.3 million .

Q: How has Verastem鈥檚 debt changed?

Long-term debt rose to $74.3 million due to a $75 million Note Purchase Agreement executed in January 2025.

Q: How many Verastem shares are outstanding after the recent financings?

Common shares outstanding increased to 61.5 million as of 7 Aug 25.

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Verastem (VSTM) Q2-25 10-Q highlights

鈥� First commercial quarter following 8 May 25 FDA approval of AVMAPKI FAKZYNJA鈩� (avutometinib + defactinib). Net product revenue reached $2.1 m; prior-year quarter had no product sales.
鈥� Total Q2 revenue was $2.1 m. 1H-25 revenue rose to $12.1 m, driven by a $10 m COPIKTRA庐 asset sale booked in Q1.
鈥� R&D expense grew 37 % YoY to $24.8 m; SG&A more than doubled to $20.7 m on launch spend. Operating loss widened to -$43.8 m; net loss -$25.9 m (-$0.39 basic EPS) versus -$8.3 m in Q2-24.
鈥� Operating cash burn for 1H-25 was $71.3 m (1H-24: -$55.9 m).

Balance sheet: Cash & equivalents climbed to $164.3 m (12/24: $88.8 m) after a $75 m note issuance, $100.1 m equity/pre-funded warrant raise and $13.8 m warrant exercises. Long-term debt now $74.3 m; warrant liability fell to $21.8 m. Stockholders鈥� equity swung to $36.1 m from a -$28.9 m deficit.

Outlook & risk: Management cites 鈥�substantial doubt鈥� about 12-month going-concern absent extra funding or stronger sales. Launch execution, RAMP trials and KRAS G12D program remain strategic priorities. Cash runway ~2 years at current burn but leverage and dilution risk persist.

Shares outstanding: 61.5 m (up 37 % YTD).
No returns reported; two specialty pharmacies represent 100 % of receivables.

Verastem (VSTM) evidenze del 10-Q del Q2-25

鈥� Primo trimestre commerciale dopo l'approvazione FDA del 8 maggio 2025 di AVMAPKI FAKZYNJA鈩� (avutometinib + defactinib). Il fatturato netto da prodotto ha raggiunto 2,1 milioni di dollari; nel trimestre dell'anno precedente non si sono registrate vendite di prodotto.
鈥� Il fatturato totale del Q2 猫 stato di 2,1 milioni di dollari. Il fatturato del primo semestre 2025 猫 salito a 12,1 milioni di dollari, trainato da una vendita di asset COPIKTRA庐 da 10 milioni di dollari contabilizzata nel Q1.
鈥� Le spese di R&S sono aumentate del 37% su base annua, arrivando a 24,8 milioni di dollari; le spese SG&A sono pi霉 che raddoppiate a 20,7 milioni di dollari a causa dei costi di lancio. La perdita operativa si 猫 ampliata a -43,8 milioni di dollari; la perdita netta 猫 stata di -25,9 milioni di dollari (-0,39 dollari per azione base) rispetto a -8,3 milioni nel Q2-24.
鈥� Il burn operativo di cassa per il primo semestre 2025 猫 stato di 71,3 milioni di dollari (1H-24: -55,9 milioni).

Bilancio: La liquidit脿 e equivalenti 猫 salita a 164,3 milioni di dollari (dicembre 2024: 88,8 milioni) dopo un鈥檈missione di note da 75 milioni, una raccolta di capitale e warrant prefinanziati da 100,1 milioni e esercizi di warrant per 13,8 milioni. Il debito a lungo termine 猫 ora di 74,3 milioni; la passivit脿 da warrant 猫 scesa a 21,8 milioni. Il patrimonio netto degli azionisti 猫 passato da un deficit di -28,9 milioni a un saldo positivo di 36,1 milioni.

Prospettive e rischi: La direzione segnala 鈥�dubbio sostanziale鈥� sulla continuit脿 aziendale a 12 mesi in assenza di finanziamenti aggiuntivi o vendite pi霉 forti. L鈥檈secuzione del lancio, gli studi RAMP e il programma KRAS G12D restano priorit脿 strategiche. La liquidit脿 disponibile copre circa 2 anni al tasso di burn attuale, ma permangono rischi di indebitamento e diluizione.

Azioni in circolazione: 61,5 milioni (in aumento del 37% da inizio anno).
Non sono stati segnalati resi; due farmacie specializzate rappresentano il 100% dei crediti.

Verastem (VSTM) aspectos destacados del 10-Q del Q2-25

鈥� Primer trimestre comercial tras la aprobaci贸n de la FDA el 8 de mayo de 2025 de AVMAPKI FAKZYNJA鈩� (avutometinib + defactinib). Los ingresos netos por producto alcanzaron $2.1 millones; en el mismo trimestre del a帽o anterior no hubo ventas de producto.
鈥� Los ingresos totales del Q2 fueron $2.1 millones. Los ingresos del primer semestre de 2025 aumentaron a $12.1 millones, impulsados por una venta de activos COPIKTRA庐 de $10 millones registrada en el Q1.
鈥� Los gastos en I+D crecieron un 37 % interanual hasta $24.8 millones; los gastos SG&A m谩s que se duplicaron hasta $20.7 millones debido a los costos de lanzamiento. La p茅rdida operativa se ampli贸 a -$43.8 millones; la p茅rdida neta fue de -$25.9 millones (-$0.39 por acci贸n b谩sica) frente a -$8.3 millones en el Q2-24.
鈥� El consumo de efectivo operativo en el primer semestre de 2025 fue de $71.3 millones (1S-24: -$55.9 millones).

Balance: El efectivo y equivalentes aumentaron a $164.3 millones (12/24: $88.8 millones) tras una emisi贸n de notas por $75 millones, una ampliaci贸n de capital y warrants prefinanciados por $100.1 millones y ejercicios de warrants por $13.8 millones. La deuda a largo plazo es ahora $74.3 millones; la pasividad por warrants baj贸 a $21.8 millones. El patrimonio neto pas贸 de un d茅ficit de -$28.9 millones a un saldo positivo de $36.1 millones.

Perspectivas y riesgos: La direcci贸n menciona 鈥�duda sustancial鈥� sobre la continuidad operativa a 12 meses sin financiaci贸n adicional o mayores ventas. La ejecuci贸n del lanzamiento, los ensayos RAMP y el programa KRAS G12D siguen siendo prioridades estrat茅gicas. La liquidez cubre aproximadamente 2 a帽os al ritmo actual de consumo, pero persisten riesgos de apalancamiento y diluci贸n.

Acciones en circulaci贸n: 61.5 millones (subieron un 37 % en lo que va de a帽o).
No se reportaron devoluciones; dos farmacias especializadas representan el 100 % de las cuentas por cobrar.

Verastem (VSTM) 2025雲� 2攵勱赴 10-Q 欤检殧雮挫毄

鈥� 2025雲� 5鞗� 8鞚� FDA 鞀轨澑鞚错泟觳� 靸侅梾攵勱赴, AVMAPKI FAKZYNJA鈩�(avutometinib + defactinib) 毵れ稖靾滌垬鞚奠潃 210毵� 雼煬鞐� 雼暔; 鞝勲厔霃欔赴鞐愲姅鞝滍拡毵れ稖鞐嗢潓.
鈥� 2攵勱赴齑� 毵れ稖鞚€ 210毵� 雼煬鞓€鞙茧┌, 2025雲� 靸侂皹旮� 毵れ稖鞚€ 1攵勱赴鞐� 旮半霅� 1,000毵� 雼煬 COPIKTRA庐鞛愳偘毵り皝鞐� 頌橃瀰鞏� 1,210毵� 雼煬搿� 歃濌皜.
鈥� 鞐瓣惮臧滊皽牍勲姅鞝勲厔雽€牍� 37% 歃濌皜頃� 2,480毵� 雼煬, 韺愲Г甏€毽箘電� 於滌嫓牍勳毄鞙茧 鞚疙暣霊� 氚� 鞚挫儊歃濌皜頃� 2,070毵� 雼煬. 鞓侅梾靻愳嫟鞚€ -4,380毵� 雼煬搿� 頇曤寑霅橃棃瓿�, 靾滌啇鞁れ潃 -2,590毵� 雼煬(旮半掣欤茧嫻靾滌啇鞁� -0.39雼煬)搿� 2024雲� 2攵勱赴 -830毵� 雼煬鞐愳劀鞎呿檾霅�.
鈥� 2025雲� 靸侂皹旮� 鞓侅梾順勱笀靻岇鞚€ 7,130毵� 雼煬鞓€鞚�(2024雲� 靸侂皹旮�: -5,590毵� 雼煬).

鞛靸来儨响�: 順勱笀氚� 順勱笀靹� 鞛愳偘鞚€ 1鞏� 6,430毵� 雼煬(2024雲� 12鞗�: 8,880毵� 雼煬)搿� 歃濌皜頄堨溂氅�, 7,500毵� 雼煬毂勱秾氚滍枆, 1鞏� 100毵� 雼煬鞛愲掣氚� 靹犽偐鞗岆煱韸� 臁半嫭, 1,380毵� 雼煬鞗岆煱韸� 頄夓偓雿曤秳鞛�. 鞛リ赴攵€毂勲姅 7,430毵� 雼煬, 鞗岆煱韸� 攵€毂勲姅 2,180毵� 雼煬搿� 臧愳唽. 欤检＜鞛愲掣鞚€ -2,890毵� 雼煬鞝侅瀽鞐愳劀 3,610毵� 雼煬 頋戩瀽搿� 鞝勴櫂.

鞝勲 氚� 鞙勴棙: 瓴届榿歆勳潃於旉皜鞛愱笀臁半嫭鞚措倶毵れ稖歃濌皜鞐嗢澊電� 12臧滌洈雮� 瓿勳啀旮办梾臁挫啀鞐� 雽€頃� 鈥�欷戨寑頃� 鞚橂鈥濎潉鞝滉赴. 於滌嫓鞁ろ枆, RAMP 鞛勳儊鞁滍棙, KRAS G12D 頂勲攴鸽灗鞚� 鞝勲灥鞝� 鞖办劆靾滌渼搿� 鞙犾霅�. 順勳灛順勱笀靻岇 靻嶋弰搿� 鞎� 2雲勱皠鞛愱笀頇曤炒臧€電ロ晿雮�, 霠堧矂毽 氚� 頋劃鞙勴棙鞚€ 瓿勳啀臁挫灛.

氚滍枆欤检嫕靾�: 6,150毵� 欤�(鞐办磮雽€牍� 37% 歃濌皜).
氚橅拡氤搓碃鞐嗢潓; 霊� 臧� 鞝勲 鞎疥淡鞚� 毵れ稖毂勱秾 100% 彀.

Verastem (VSTM) points cl茅s du 10-Q du T2-25

鈥� Premier trimestre commercial apr猫s l'approbation FDA du 8 mai 2025 d'AVMAPKI FAKZYNJA鈩� (avutometinib + defactinib). Le chiffre d'affaires net produit a atteint 2,1 M$; aucun chiffre d'affaires produit au trimestre de l'ann茅e pr茅c茅dente.
鈥� Le chiffre d'affaires total du T2 s'est 茅lev茅脿 2,1 M$. Les revenus du premier semestre 2025 ont augment茅脿 12,1 M$, port茅s par une vente d'actifs COPIKTRA庐 de 10 M$ enregistr茅e au T1.
鈥� Les d茅penses R&D ont augment茅 de 37 % en glissement annuel pour atteindre 24,8 M$; les frais SG&A ont plus que doubl茅脿 20,7 M$ en raison des co没ts de lancement. La perte d'exploitation s'est creus茅e 脿 -43,8 M$; la perte nette s'est 茅lev茅e 脿 -25,9 M$ (-0,39 $ de BPA de base) contre -8,3 M$ au T2-24.
鈥� La consommation de tr茅sorerie op茅rationnelle du 1S-25 s'est 茅lev茅e 脿 71,3 M$ (1S-24 : -55,9 M$).

Bilan : La tr茅sorerie et 茅quivalents ont augment茅脿 164,3 M$ (12/24 : 88,8 M$) apr猫s une 茅mission d'obligations de 75 M$, une lev茅e de fonds en actions et warrants pr茅financ茅s de 100,1 M$ et des exercices de warrants pour 13,8 M$. La dette 脿 long terme s'茅l猫ve d茅sormais 脿 74,3 M$; le passif li茅 aux warrants a diminu茅脿 21,8 M$. Les capitaux propres sont pass茅s d'un d茅ficit de -28,9 M$ 脿 un solde positif de 36,1 M$.

Perspectives et risques : La direction 茅voque un 芦 doute substantiel 禄 quant 脿 la poursuite de l'activit茅 sur 12 mois sans financement suppl茅mentaire ou ventes plus fortes. L'ex茅cution du lancement, les essais RAMP et le programme KRAS G12D restent des priorit茅s strat茅giques. La tr茅sorerie disponible couvre environ 2 ans au rythme actuel de consommation, mais les risques d'endettement et de dilution persistent.

Actions en circulation : 61,5 M (en hausse de 37 % depuis le d茅but de l'ann茅e).
Aucun retour signal茅 ; deux pharmacies sp茅cialis茅es repr茅sentent 100 % des cr茅ances clients.

Positive

FDA approval of AVMAPKI FAKZYNJA on 8 May 25 establishes first revenue-generating product.
Cash & equivalents jumped to $164.3 m, providing roughly two years of liquidity under current burn assumptions.
Stockholders鈥� equity turned positive ($36.1 m) after equity raises and warrant exercises, improving balance-sheet optics.
Warrant liability fell by $36 m, reducing potential future dilution overhang.

Negative

Going-concern warning reflects substantial doubt about financing needs within 12 months.
Q2 net loss widened to $25.9 m; 1H-25 operating cash burn reached $71.3 m.
Long-term debt increased to $74.3 m with double-digit effective yield and revenue-share obligations.
SG&A expenses more than doubled YoY, signaling high commercialization spend relative to early sales traction.
Share count rose 37 % YTD, highlighting ongoing equity dilution risk.

Insights

TL;DR: First drug launch adds revenue but burn, leverage and going-concern warning offset progress; overall neutral impact.

Earnings quality: Revenue inflection is encouraging yet immaterial relative to expenses鈥攇ross margin 71 % (after COGS $0.45 m). Operating spend rose 62 % YoY, so break-even remains distant.
Liquidity: Post-quarter cash of $164 m gives ~8 quarters runway, but $74 m notes carry revenue-linked payments plus 12.5 % yield, tightening future flexibility.
Capital structure: Equity turned positive, warrant overhang shrank, but dilution already 37 % YTD; further raises likely.
Valuation drivers: Uptake curve for AVMAPKI in KRAS-mt LGSOC, additional indications (RAMP 301) and KRAS G12D pre-clinical asset dictate upside. Near-term catalysts: initial launch metrics (2H-25) and RAMP 201 confirmatory data.

TL;DR: Approval is milestone but $2 m debut signals modest demand; heavy spend required, risk skewed negative.

The U.S. LGSOC population is small (~6-7 k patients). A $2 m quarter suggests low initial penetration or limited inventory stocking. SG&A doubling shows aggressive field build-out; ROI uncertain without broader label or combo wins. Competitive landscape (e.g., MEK inhibitors trametinib, selumetinib) may limit pricing power. Manufacturing ramp appears smooth鈥攏o returns, normal discounts鈥攂ut payer rebates and co-pay support will compress net price. Without faster uptake or ex-U.S. partners, cash burn may outpace resources before pipeline readouts reach registration stage.

Verastem (VSTM) evidenze del 10-Q del Q2-25

Azioni in circolazione: 61,5 milioni (in aumento del 37% da inizio anno).
Non sono stati segnalati resi; due farmacie specializzate rappresentano il 100% dei crediti.

Verastem (VSTM) aspectos destacados del 10-Q del Q2-25

Acciones en circulaci贸n: 61.5 millones (subieron un 37 % en lo que va de a帽o).
No se reportaron devoluciones; dos farmacias especializadas representan el 100 % de las cuentas por cobrar.

Verastem (VSTM) 2025雲� 2攵勱赴 10-Q 欤检殧雮挫毄

氚滍枆欤检嫕靾�: 6,150毵� 欤�(鞐办磮雽€牍� 37% 歃濌皜).
氚橅拡氤搓碃鞐嗢潓; 霊� 臧� 鞝勲 鞎疥淡鞚� 毵れ稖毂勱秾 100% 彀.

Verastem (VSTM) points cl茅s du 10-Q du T2-25

Actions en circulation : 61,5 M (en hausse de 37 % depuis le d茅but de l'ann茅e).
Aucun retour signal茅 ; deux pharmacies sp茅cialis茅es repr茅sentent 100 % des cr茅ances clients.

08/07/2025 - 04:08 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

ZILLMER JOHN J

(Last)

(First)

(Middle)

C/O ARAMARK

2400 MARKET STREET

(Street)

PHILADELPHIA

19103

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
Aramark [ ARMK ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chief Executive Officer

3. Date of Earliest Transaction (Month/Day/Year)
08/07/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	08/07/2025		P		6,387	A	$39.0746⁽¹⁾	831,825.411	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $39.06 to $39.09, inclusive. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

Remarks:

	/s/ Harold B. Dichter, as Attorney-in-fact	08/07/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source:

FAQ

How much revenue did Verastem (VSTM) generate in Q2 2025?

Net product revenue was $2.1 million, the company鈥檚 first commercial sales of AVMAPKI FAKZYNJA.

What is Verastem鈥檚 current cash position?

As of 30 Jun 25, cash and cash equivalents totaled $164.3 million.

Why did Verastem issue a going-concern warning?

Management expects continued operating losses and is uncertain that existing cash and projected sales will fund operations for 12 months without additional capital.

How has Verastem鈥檚 debt changed?

Long-term debt rose to $74.3 million due to a $75 million Note Purchase Agreement executed in January 2025.

What drove the increase in operating expenses?

R&D spending for RAMP trials and KRAS programs rose 37 %, while SG&A doubled as the U.S. commercial team ramped up for AVMAPKI launch.

How many Verastem shares are outstanding after the recent financings?

Common shares outstanding increased to 61.5 million as of 7 Aug 25.

AG真人官方

[Form 4] ARAMARK Insider Trading Activity

Insights

FAQ

How much revenue did Verastem (VSTM) generate in Q2 2025?

What is Verastem鈥檚 current cash position?

Why did Verastem issue a going-concern warning?

How has Verastem鈥檚 debt changed?

What drove the increase in operating expenses?

How many Verastem shares are outstanding after the recent financings?

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Insights

Financial Analyst neutral

Oncology Commercialization Specialist negative

FAQ

How much revenue did Verastem (VSTM) generate in Q2 2025?

What is Verastem鈥檚 current cash position?

Why did Verastem issue a going-concern warning?

How has Verastem鈥檚 debt changed?

What drove the increase in operating expenses?

How many Verastem shares are outstanding after the recent financings?

NYSE:ARMK

ARMK Rankings

ARMK Latest News

ARMK Latest SEC Filings

ARMK Stock Data