Is there Value in Verastem?

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The recent news for Verastem (Nasdaq:VSTM) has been terrible. Yesterday they announced a layoff of 50% of their workforce which will get the company down to 20 people and save $4.9M a year in operating costs. They still have $132M in cash. With a market capitalization of $80M the question is whether or not there is value to be had in the shares now.

In late September the company announced that the Phase 2 trial around their lead drug candidate (VS-6063) would be . . .

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