Verastem announces positive Phase 1/2 safety and efficacy results in PDAC
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18 hours ago
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Verastem Advances with Phase 3 Trial Progress and Product Launch Boosting Prospects
Verastem, Inc. (NASDAQ:VSTM) is one of the 11 Best Short Squeeze Stocks to Buy Now. The company progresses with its Phase 3 ovarian cancer trial while AVMAPKI FAKZYNJA CO-PACK generates revenue. A doctor consulting a patient about the efficacy of the biopharmaceutical company's drugs. Verastem, Inc. (NASDAQ:VSTM), operating from its headquarters in Massachusetts, is a development-stage biopharmaceutical company. Its focus is on discovering and commercializing novel cancer therapies, particularly those targeting cancer stem cells and RAS pathway–based malignancies. On August 8, 2025, Verastem, Inc. (NASDAQ:VSTM) announced an update Phase 3 study in ovarian cancer. The company is engaged in a Phase 3 clinical trial, RAMP 301, to test a new combination therapy for recurrent low-grade serous ovarian cancer (LGSOC). It announced that the study will focus on assessing the safety and effectiveness of the oral drugs avutometinib and defactinib against standard treatments. It's an open-label, randomized trial, and participants can switch to the new drugs if their disease progresses. The study, which began in March 2024, is crucial for exploring new treatment options for this challenging cancer. It has the potential to impact on the competitive environment in oncology. Additionally, in its earnings call, Verastem, Inc. (NASDAQ:VSTM) also highlighted securing FDA approval for its AVMAPKI FAKZYNJA CO-PACK nearly two months ahead of schedule. With this approval, the company enters the first-ever treatment for KRAS-mutated recurrent low-grade serous ovarian cancer (LGSOC). The product helped generate $2.1 million in net product revenue within just six weeks of its launch. The company has a short float of 37.03%, suggesting elevated bearish bets that position the stock for significant gains if a bullish trigger were to materialize. While we acknowledge the potential of VSTM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 12 Best REIT Stocks to Buy Right Now and 10 Stocks with Huge Catalysts on the Horizon Disclosure. None.
Yahoo
a day ago
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NAB to take A$85m hit this year over staff underpayments
National Australia Bank (NAB) has flagged a financial impact of A$130m ($84.6m) this year, following the discovery of underpayments to its staff. The revelation came as the bank conducted an internal review, which has led to an anticipated 4.5% increase in operating expenses for the current financial year, attributed to the costs associated with the review and remediation process of payroll discrepancies. The bank has issued a cautionary note, indicating that the "payroll review and remediation is ongoing and total costs remain uncertain." The payroll issues in question pertain to various aspects of employment, including job sharing arrangements, rostering, and the calculation of wage and leave entitlements. In response to these findings, NAB is commencing remediation with affected staff members and has initiated a comprehensive review into payroll-related benefits, covering both current and certain past agreements. However, the bank did not disclose the exact number of employees impacted by these payroll errors. NAB group executive of people and culture Sarah White extended an apology to the staff, stating: "Paying our colleagues correctly is an absolute priority. "We are sorry and apologise to our colleagues that this has happened and have commenced remediating those impacted." The bank's payroll problems were initially uncovered in 2019, with an earlier review identifying a shortfall of A$250m over a two-year period. The ongoing review, coupled with the implementation of new human resources and payroll platforms, and the transition of staff to a new enterprise agreement, has brought to light additional issues that were announced today. NAB has committed to engaging with the Fair Work Ombudsman and the Finance Sector Union as part of its efforts to address the payroll concerns. This news has been met with criticism from Wendy Streets, the national president of the Finance Sector Union, who condemned the underpayment as "systemic wage theft," particularly during a period when Australians are facing significant cost-of-living challenges. She asserted that the funds "should never have been taken from workers in the first place." Meanwhile, recently, the Big Four bank was in the news, along with its subsidiary AFSH Nominees (AFSH), for ignoring customers in financial distress. The Federal Court mandated that NAB and AFSH pay a total of A$15.5m in penalties for their inadequate response to customers facing financial problems. "NAB to take A$85m hit this year over staff underpayments" was originally created and published by Retail Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
a day ago
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ASX bull run hits sixth straight record day
Australia's stock market set an 'unprecedented' sixth straight day of record highs on the back of a strong start to earning season led by the major banks. The benchmark ASX 200 rose 20.70 points or 0.2 per cent to finish at 8,959.30 while the broader All Ordinaries finished 21.40 points or 0.23 per cent higher at 9,233.50. The Aussie dollar edged higher and was buying 65.14 US cents. On an overall strong day on the market, seven of the 11 sectors finished higher. The banking sector helped drive the market led by NAB shares which jumped 2.65 to $40.23 on strong quarterly results. CBA, was also up 1.2 per cent to $170.19 and Westpac gained 0.71 per cent to $37.07. ANZ was the outlier, down 1.54 per cent to $32.57. IG market analyst Tony Sycamore said the Australian market continued its record breaking run on the back of a strong start to the reporting season. 'I believe this is unprecedented,' he said. 'It's fair to say we continue to this historic run higher for the ASX200 and we are now not too far away from those 9000 levels which has come on the back of RBA rate cuts and a pretty solid start to reporting season.' Mr Sycamore cautioned while corporate Australia was so far showing strong results, it was usually the businesses with better results which reported at the start of the season. 'This is going to be the week where I think we probably start to see some of those seasonal tendencies around reporting season hold true, this should be the week where things start to get a little hairier,' he said. Materials were the main handbrake on the market with BlueScope Steel falling 3.14 per cent to $23.48. The major iron ore miner also slid. BHP fell 1.17 per cent to $41.47, Rio Tinto slid 1.52 per cent to $113.30 and Fortescue Metals dropped 0.60 per cent to $19.72 as investors feared iron ore prices could fall on the back of weak Chinese demand. On another busy day of reporting season, NAB announced cash earnings for the three months until the end of June of $1.77bn. It also flagged a spike in operating expenses due to a payroll problem that is estimated to cost $130m. Qantas was hit with a $90m fine after the federal court found it illegally outsourced 1820 jobs to prevent industrial action during the pandemic, with its shares falling 0.43 per cent to $11.58. Shares in Lendlease were the standout, as it soared 6.67 per cent to $5.92 on the back of announcing the business had returned to a $225m profit, compared with a $1.5bn loss in the previous year. Rail giant Aurizon shares jumped 1.83 per cent to $3.33 after it delivered $303m in net profits as well as 200 roles being made redundant. REA Group shares also gained 4.45 per cent to $261.42 after the Real Estate platform appointed Cameron McIntyre as chief executive to succeed long-serving boss Owen Wilson. BlueScope Steel fell after telling the market full year profits slumped to $83.8m down from $806m this time last year. DigiCo Infrastructure REIT dived 14.06to $2.75on inaugural financial results which showed earnings before interest, taxes, depreciation and amortisation came in at $99m. Outdoor advertising company oOh!media shares also slumped 10.17 per cent to $1.59 after net profits after tax came in at minus $11.3m. Online retailer Kogan shares fell 2.50 per cent to $3.90 due to writing down the goodwill for its Mighty Ape acquisition on poorer-than-expected trading performance and longer than anticipated recovery from the platform technology challenges following the October 2024 website update. Jeweller Michael Hill traded flat on the news Jonathan Waecker will take over as chief executive.
