Verastem, Inc. (Nasdaq: VSTM) (Verastem Oncology or the
Company), a biopharmaceutical company focused on developing and
commercializing medicines seeking to improve the survival and
quality of life of cancer patients, today announced that Brian
Stuglik, a member of the Board of Directors, has been named Chief
Executive Officer (CEO).
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“Brian brings deep commercial and biopharmaceutical leadership
experience that we believe will accelerate the growth of COPIKTRA™
and progress overall company goals,” said Michael G. Kauffman, MD,
PhD, Verastem Oncology’s Lead Director. “Throughout his career,
Brian has demonstrated an ability to deliver results through a
clear strategic vision, focused teams and excellent execution. We
are confident that he will capitalize on the significant
opportunities in front of the company on behalf of patients,
customers and our shareholders.”
Mr. Stuglik has more than three decades of experience in US and
International pharmaceutical development, product strategy and
commercialization, with a focus on Oncology. He spent the majority
of his career at Eli Lilly and Company, culminating in his role as
Global Vice President and Chief Marketing Officer, Oncology Global
Marketing, advancing Lilly Oncology from a single approved product
to a portfolio of marketed or late-stage compounds across more than
10 cancer types. In May of this year, he took on a strategic
oversight and advisory role to Verastem Oncology’s commercial
organization.
“I am honored to join the Verastem Oncology team as CEO and am
energized to build on our commitment to patients as we realize the
full potential of COPIKTRA and the pipeline,” said Mr. Stuglik.
“Being a member of the Board of Directors and, more recently,
serving as a strategic partner to the team, I have great confidence
in Verastem Oncology’s ability to rapidly progress our mission to
improve the lives of cancer patients.”
Mr. Stuglik will continue to serve as a member of the Board of
Directors and will lead the company’s executive team. As recently
announced, Dan Paterson, formerly the Chief Operating Officer has
assumed the role of President and Chief Operating Officer and Rob
Gagnon has expanded his role to Chief Business and Financial
Officer.
As previously announced, the Company will host a conference call
and webcast on Thursday, August 1, 2019 at 4:30 p.m. Eastern Time
to discuss corporate updates and financial results for the second
quarter ended June 30, 2019.
About Verastem Oncology
Verastem Oncology (Nasdaq:VSTM) is a commercial
biopharmaceutical company committed to the development and
commercialization of medicines to improve the lives of patients
diagnosed with cancer. We are driven by the strength, tenacity and
courage of those battling cancer – single-minded in our resolve to
deliver new therapies that not only keep cancer at bay, but improve
the lives of patients diagnosed with cancer. Because for us, it’s
personal.
Our first FDA approved product is now available for the
treatment of patients with certain types of indolent non-Hodgkin’s
lymphoma (iNHL). Our pipeline comprises product candidates that
seek to treat cancer by modulating the local tumor
microenvironment. 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, and
financial results. 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 and
uncertainties, among other things, regarding: the commercial
success of COPIKTRA™ in the United States; physician and patient
adoption of COPIKTRA, including those related to the safety and
efficacy of COPIKTRA; the uncertainties inherent in research and
development of COPIKTRA, such as negative or unexpected results of
clinical trials; whether and when any applications for COPIKTRA may
be filed with regulatory authorities in any other jurisdictions;
whether and when regulatory authorities in any other jurisdictions
may approve any such other applications that may be filed for
COPIKTRA, which will depend on the assessment by such regulatory
authorities of the benefit-risk profile suggested by the totality
of the efficacy and safety information submitted and, if approved,
whether COPIKTRA will be commercially successful in such
jurisdictions; our ability to obtain, maintain and enforce patent
and other intellectual property protection for COPIKTRA and our
other product candidates; the scope, timing, and outcome of any
legal proceedings; decisions by regulatory authorities regarding
labeling and other matters that could affect the availability or
commercial potential of COPIKTRA; the fact that regulatory
authorities in the U.S. or other jurisdictions, if approved, could
withdraw approval; whether preclinical testing of our product
candidates and preliminary or interim data from clinical trials
will be predictive of the results or success of ongoing or later
clinical trials; that the timing, scope and rate of reimbursement
for our product candidates is uncertain; that third-party payors
(including government agencies) may not reimburse for COPIKTRA;
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
COPIKTRA or our other product candidates will cause unexpected
safety events, experience manufacturing or supply interruptions or
failures, or result in unmanageable safety profiles as compared to
their levels of efficacy; that COPIKTRA will be ineffective at
treating patients with lymphoid malignancies; that we will be
unable to successfully initiate or complete the clinical
development and eventual commercialization of our product
candidates; that the development and commercialization of our
product candidates will take longer or cost more than planned; that
we may not have sufficient cash to fund our contemplated
operations; that we, CSPC Pharmaceutical Group, Yakult Honsha Co.,
Ltd. or Infinity Pharmaceuticals, Inc. will fail to fully perform
under the duvelisib license agreements; that we may be unable to
make additional draws under our debt facility or obtain adequate
financing in the future through product licensing, co-promotional
arrangements, public or private equity, debt financing or
otherwise; that we will not pursue or submit regulatory filings for
our product candidates, including for duvelisib in patients with
chronic lymphocytic leukemia/small lymphocytic lymphoma (CLL/SLL)
or indolent non-Hodgkin lymphoma (iNHL) in other jurisdictions; and
that our 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 Quarterly Report on Form
10-Q for the quarterly period ended March 31, 2019, as filed with
the Securities and Exchange Commission (SEC) on May 9, 2019, its
Annual Report on Form 10-K for the year ended December 31, 2018 as
filed with the SEC on March 12, 2019 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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version on businesswire.com: https://www.businesswire.com/news/home/20190729005655/en/
Verastem Oncology: Investors: John Doyle Vice President,
Investor Relations & Finance +1 781-292-4279
jdoyle@verastem.com Media: Lisa Buffington Corporate Communications
+1 781-292-4205 lbuffington@verastem.com
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