ARTICLE | Finance

Vera good reception

Westphal's Verastem jumps in trading after preclinical cancer play bumps up IPO

January 30, 2012 8:00 AM UTC

Verastem Inc. (NASDAQ:VSTM) raised $55 million through the sale of 5.5 million shares at $10 in a bumped-up IPO, becoming the first U.S. biotech to price an IPO this year. The deal values the preclinical cancer play at a lofty $202.3 million.

The company also jumped $1.09 (11%) to $11.09 in its first day of trading on Friday...