Verastem, a biopharmaceutical company focused on developing small molecule drugs that target cancer stem cells, announced terms for its IPO on Friday, with pricing set for the week of January 23rd. The Cambridge, MA-based company plans to raise $45 million by offering 4.5 million shares at a price range of $9.00 to $11.00. At the midpoint of the proposed range, Verastem will command a market value of $196 million. Since its founding in August 2010, it has not generated any revenues and all product candidates are in preclinical studies. Verastem plans to list on the NASDAQ under the symbol VSTM. UBS and Leerink Swann are the lead underwriters on the deal. Verastem has received venture capital from Bessemer Venture Partners.
