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VSTMVerastem, Inc.

Is Verastem struggling financially?

Yes, by its own account. Verastem told the SEC on 7 May 2026, in Form 10-Q, that there is substantial doubt about its ability to continue as a going concern.

Going concern disclosed May 2026

15/100

Critical

Sector
Biotech/Pharma
Market cap
$624.0M
Source filing
10-Q 7 May 2026
Balance sheet
30 Jun 2026

Cash runway

  • 4months

    If the burn speeds up

    Empty by Oct 2026

  • 7months

    If it eases off

    Empty by Jan 2027

Both rows are the same reported burn flexed 15% either way, and neither assumes the company raises a cent.

Out of cashTwo years or more

The runway math

Cash and short-term investments

$136.4M

÷

Cash burned over the last 12 months

$285.6M

What Verastem told the SEC

…product candidates and commercial activities. As a result of the assessment in accordance with the applicable accounting standards, these conditions raise substantial doubt about the Company’s ability to continue as a going concern for twelve months after the date the condensed consolidated financial statements are issued. The Company expects to finance its operations with its existing cash, cash equivalents and…

Verastem, Inc., Form 10-Q, filed 7 May 2026.

Read the filing on SEC.gov

What this means

  • Not a bankruptcy filing, and not a prediction.
  • It is the company’s own statement, agreed with its auditor, that the doubt is material enough to disclose.
  • The runway is arithmetic on two reported numbers, not a forecast. Companies carry this language for years, raise money and keep going.

What else the numbers show

  • 64.8% share-count increase The company issued stock. Each share now owns 39.3% less of the business than a year ago, before any change in the price.
  • Cash burn is increasing It is spending 33% more cash per year than it was, so the runway above shortens even if nothing else changes.

Other Biotech/Pharma companies that filed the doubt