ARTICLE | Top Story

Verastem raises $55M in bumped-up IPO

January 28, 2012 1:32 AM UTC

Preclinical cancer company Verastem Inc. (NASDAQ:VSTM) raised $55 million through the sale of 5.5 million shares at $10 per share in a bumped-up IPO. The price values Verastem at $202.3 million. Earlier this month, the company planned to sell 4.5 million shares at $9-$11. UBS; Leerink; Lazard; Oppenheimer; and Rodman were underwriters. Verastem gained $1.09 (11%) to $11.09 in its first day of trading on Friday. ...