Verastem’s value play

Verastem Inc. (NASDAQ:VSTM) has parlayed a small gamble on Phase III asset duvelisib into a double-digit stock bump and what could become the company’s first commercial product.

Verastem soared $1.08 (28%) to $4.92 on Sept. 6, adding $40 million in market cap, after announcing duvelisib met the primary endpoint of progression-free survival (PFS) in the Phase III DUO study to treat relapsed or refractory chronic lymphocytic leukemia (CLL) and small lymphocytic leukemia (SLL). ...