$VSTM
Verastem, Inc.

2022 Q3 Form 10-Q Financial Statement

#000155837022016278 Filed on November 03, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2021 Q3
Revenue $0.00 $2.000K
YoY Change -100.0% -100.0%
Cost Of Revenue $0.00
YoY Change -100.0%
Gross Profit $2.000K
YoY Change -100.0%
Gross Profit Margin 100.0%
Selling, General & Admin $6.421M $5.523M
YoY Change 16.26% -73.21%
% of Gross Profit 276150.0%
Research & Development $11.29M $9.325M
YoY Change 21.05% -14.88%
% of Gross Profit 466250.0%
Depreciation & Amortization $30.00K $30.00K
YoY Change 0.0% -88.46%
% of Gross Profit 1500.0%
Operating Expenses $17.71M $14.85M
YoY Change 19.27% -52.97%
Operating Profit -$17.71M -$14.85M
YoY Change 19.28% -198.86%
Interest Expense $717.0K $7.980M
YoY Change -91.02% 320.44%
% of Operating Profit
Other Income/Expense, Net $20.00K $0.00
YoY Change
Pretax Income -$18.09M -$22.79M
YoY Change -20.61% -273.44%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$18.09M -$22.79M
YoY Change -20.61% -273.44%
Net Earnings / Revenue -1139300.0%
Basic Earnings Per Share -$0.09 -$0.13
Diluted Earnings Per Share -$0.09 -$0.13
COMMON SHARES
Basic Shares Outstanding 187.8M 179.9M
Diluted Shares Outstanding 197.2M 179.9M

Balance Sheet

Concept 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $104.0M $103.4M
YoY Change 0.54% -39.35%
Cash & Equivalents $78.17M $24.31M
Short-Term Investments $25.81M $79.10M
Other Short-Term Assets $4.709M $5.236M
YoY Change -10.06% -57.77%
Inventory
Prepaid Expenses
Receivables $74.00K $105.0K
Other Receivables $0.00 $0.00
Total Short-Term Assets $108.8M $108.8M
YoY Change 0.0% -42.32%
LONG-TERM ASSETS
Property, Plant & Equipment $121.0K $240.0K
YoY Change -49.58% -51.71%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00
YoY Change
Other Assets $47.00K $223.0K
YoY Change -78.92% 869.57%
Total Long-Term Assets $2.336M $3.120M
YoY Change -25.13% -89.32%
TOTAL ASSETS
Total Short-Term Assets $108.8M $108.8M
Total Long-Term Assets $2.336M $3.120M
Total Assets $111.1M $111.9M
YoY Change -0.7% -48.63%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.359M $641.0K
YoY Change 736.04% -86.31%
Accrued Expenses $14.79M $12.26M
YoY Change 20.65% -47.09%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $21.87M $13.54M
YoY Change 61.59% -64.07%
LONG-TERM LIABILITIES
Long-Term Debt $24.67M $243.0K
YoY Change 10051.03% -99.49%
Other Long-Term Liabilities $1.682M $2.443M
YoY Change -31.15% -21.19%
Total Long-Term Liabilities $26.35M $2.686M
YoY Change 880.98% -94.66%
TOTAL LIABILITIES
Total Short-Term Liabilities $21.87M $13.54M
Total Long-Term Liabilities $26.35M $2.686M
Total Liabilities $48.22M $16.22M
YoY Change 197.26% -81.57%
SHAREHOLDERS EQUITY
Retained Earnings -$720.7M -$647.2M
YoY Change 11.36% 13.03%
Common Stock $783.6M $742.9M
YoY Change 5.49% 5.76%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $62.87M $95.66M
YoY Change
Total Liabilities & Shareholders Equity $111.1M $111.9M
YoY Change -0.7% -48.63%

Cashflow Statement

Concept 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$18.09M -$22.79M
YoY Change -20.61% -273.44%
Depreciation, Depletion And Amortization $30.00K $30.00K
YoY Change 0.0% -88.46%
Cash From Operating Activities -$15.08M -$10.83M
YoY Change 39.3% -124.19%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities $4.647M $10.00M
YoY Change -53.53%
Cash From Investing Activities $4.647M $10.00M
YoY Change -53.53%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 25.62M 169.0K
YoY Change 15062.13% 20.71%
NET CHANGE
Cash From Operating Activities -15.08M -10.83M
Cash From Investing Activities 4.647M 10.00M
Cash From Financing Activities 25.62M 169.0K
Net Change In Cash 15.19M -658.0K
YoY Change -2408.36% -101.47%
FREE CASH FLOW
Cash From Operating Activities -$15.08M -$10.83M
Capital Expenditures $0.00 $0.00
Free Cash Flow -$15.08M -$10.83M
YoY Change 39.3% -124.19%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2022Q3 us-gaap Preferred Stock Value
PreferredStockValue
CY2021Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.09
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.13
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.30
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.31
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
197151000
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
179861000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
189999000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
174524000
CY2022Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2021Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
dei Entity Address City Or Town
EntityAddressCityOrTown
Needham
dei Entity Address State Or Province
EntityAddressStateOrProvince
MA
CY2021Q4 us-gaap Convertible Long Term Notes Payable
ConvertibleLongTermNotesPayable
249000
CY2021Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
40000
CY2022Q3 us-gaap Liabilities Current
LiabilitiesCurrent
21873000
CY2021Q4 us-gaap Liabilities Current
LiabilitiesCurrent
18590000
CY2022Q3 us-gaap Convertible Long Term Notes Payable
ConvertibleLongTermNotesPayable
268000
CY2021Q4 us-gaap Assets
Assets
108662000
CY2022Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
5359000
CY2021Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
2302000
CY2022Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
14788000
dei Entity Central Index Key
EntityCentralIndexKey
0001526119
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2022
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Amendment Flag
AmendmentFlag
false
CY2021Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
185286000
CY2022Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
210084000
dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2022-09-30
dei Document Transition Report
DocumentTransitionReport
false
dei Entity File Number
EntityFileNumber
001-35403
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
15621000
CY2022Q3 vstm Deferred Liabilities
DeferredLiabilities
-965000
dei Entity Registrant Name
EntityRegistrantName
Verastem, Inc.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
27-3269467
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
02494
dei City Area Code
CityAreaCode
781
dei Entity Address Address Line1
EntityAddressAddressLine1
117 Kendrick Street, Suite 500
CY2022Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
761000
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
667000
CY2022Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
dei Local Phone Number
LocalPhoneNumber
292-4200
dei Security12b Title
Security12bTitle
Common Stock, $0.0001 par value per share
dei Trading Symbol
TradingSymbol
VSTM
dei Security Exchange Name
SecurityExchangeName
NASDAQ
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Entity Small Business
EntitySmallBusiness
true
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
dei Entity Shell Company
EntityShellCompany
false
CY2022Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
210090850
CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
78166000
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
21252000
CY2022Q3 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
25810000
CY2021Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
79004000
CY2022Q3 us-gaap Accounts Receivable Net
AccountsReceivableNet
74000
CY2021Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
516000
CY2022Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
4709000
CY2021Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
4968000
CY2022Q3 us-gaap Assets Current
AssetsCurrent
108759000
CY2021Q4 us-gaap Assets Current
AssetsCurrent
105740000
CY2022Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
121000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
210000
CY2022Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1927000
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2302000
CY2022Q3 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
241000
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
241000
CY2022Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
47000
CY2021Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
169000
CY2022Q3 us-gaap Assets
Assets
111095000
CY2022Q3 us-gaap Secured Long Term Debt
SecuredLongTermDebt
24399000
CY2022Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1682000
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
2264000
CY2022Q3 us-gaap Liabilities
Liabilities
48222000
CY2021Q4 us-gaap Liabilities
Liabilities
21103000
CY2022Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2021Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2021Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-18090000
CY2022Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2021Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2022Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2021Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2022Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000
CY2021Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000
CY2022Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
210084000
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
185286000
CY2022Q3 us-gaap Common Stock Value
CommonStockValue
21000
CY2021Q4 us-gaap Common Stock Value
CommonStockValue
19000
CY2022Q3 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
783606000
CY2021Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
751217000
CY2022Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-39000
CY2021Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
34000
CY2022Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-720715000
CY2021Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-663711000
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
62873000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
87559000
CY2022Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
111095000
CY2021Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
108662000
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2596000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1508000
CY2022Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
11288000
CY2021Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
9325000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
39818000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
27951000
CY2022Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
6421000
CY2021Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
5523000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
18869000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
18455000
CY2022Q3 us-gaap Costs And Expenses
CostsAndExpenses
17709000
CY2021Q3 us-gaap Costs And Expenses
CostsAndExpenses
14848000
us-gaap Costs And Expenses
CostsAndExpenses
58687000
us-gaap Costs And Expenses
CostsAndExpenses
46406000
CY2022Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-17709000
CY2021Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-14846000
us-gaap Operating Income Loss
OperatingIncomeLoss
-56091000
us-gaap Operating Income Loss
OperatingIncomeLoss
-44898000
CY2022Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
20000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
54000
CY2022Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
316000
us-gaap Investment Income Interest
InvestmentIncomeInterest
446000
us-gaap Investment Income Interest
InvestmentIncomeInterest
141000
CY2022Q3 us-gaap Interest Expense
InterestExpense
717000
CY2021Q3 us-gaap Interest Expense
InterestExpense
7980000
us-gaap Interest Expense
InterestExpense
1413000
us-gaap Interest Expense
InterestExpense
9962000
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-22786000
us-gaap Net Income Loss
NetIncomeLoss
-57004000
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
62873000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-16902000
CY2021Q2 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
5000
us-gaap Net Income Loss
NetIncomeLoss
-54719000
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.09
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.13
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.30
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.31
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
197151000
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
179861000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
189999000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
174524000
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-18090000
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-22786000
us-gaap Net Income Loss
NetIncomeLoss
-57004000
us-gaap Net Income Loss
NetIncomeLoss
-54719000
CY2022Q3 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
91000
CY2021Q3 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
-12000
us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
-73000
us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
-26000
CY2022Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-17999000
CY2021Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-22798000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-57077000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-54745000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
87559000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-16962000
CY2022Q1 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
-147000
CY2022Q1 vstm Stock Issued During Period Value At Market Transactions
StockIssuedDuringPeriodValueAtMarketTransactions
575000
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1646000
CY2022Q1 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
100000
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
72771000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-21952000
CY2022Q2 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
-17000
CY2022Q2 vstm Stock Issued During Period Value At Market Transactions
StockIssuedDuringPeriodValueAtMarketTransactions
1240000
CY2022Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
92000
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1758000
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
53892000
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-18090000
CY2022Q3 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
91000
CY2022Q3 vstm Stock Issued During Period Value At Market Transactions
StockIssuedDuringPeriodValueAtMarketTransactions
25534000
CY2022Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
26000
CY2022Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1356000
CY2022Q3 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
64000
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
115274000
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-15031000
CY2021Q1 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
-19000
CY2021Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
381000
CY2021Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
-52000
CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1980000
CY2021Q1 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
76000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
926000
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
102609000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1079000
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
73000
CY2021Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
361000
CY2021Q2 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
-38000
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2170000
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
88205000
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-22786000
CY2021Q3 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
-12000
CY2021Q3 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
106000
CY2021Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
155000
CY2021Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1987000
CY2021Q3 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
28000000
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
95655000
us-gaap Profit Loss
ProfitLoss
-57004000
us-gaap Profit Loss
ProfitLoss
-54719000
us-gaap Depreciation
Depreciation
89000
us-gaap Depreciation
Depreciation
176000
vstm Operating Lease Right Of Use Asset And Lease Liability Amortization
OperatingLeaseRightOfUseAssetAndLeaseLiabilityAmortization
-113000
vstm Operating Lease Right Of Use Asset And Lease Liability Amortization
OperatingLeaseRightOfUseAssetAndLeaseLiabilityAmortization
-98000
us-gaap Share Based Compensation
ShareBasedCompensation
4760000
us-gaap Share Based Compensation
ShareBasedCompensation
6137000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
231000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
9287000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-442000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-134000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-1349000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1834000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
3057000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1038000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-833000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-1614000
us-gaap Increase Decrease In Deferred Liabilities
IncreaseDecreaseInDeferredLiabilities
965000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-47057000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-43569000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
196000
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
15340000
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
53258000
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
68500000
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
53475000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
53160000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
21000
us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
24148000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
282000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
27354000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
51784000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
80000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
57887000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-43468000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
21493000
CY2022Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerNumberOfPositions
1
CY2022Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
5000000.0
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
68023000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
79380000
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
24555000
us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
28000000
CY2022Q3 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
100000
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerNumberOfPositions
0
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
8333000
vstm Supplemental Non Cash Stock Issuance Cost
SupplementalNonCashStockIssuanceCost
46000
us-gaap Nature Of Operations
NatureOfOperations
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-bottom:12pt;margin:0pt;"><b style="font-weight:bold;">1. Nature of business</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-bottom:12pt;text-indent:36pt;background:#ffffff;margin:0pt;">Verastem, Inc. (the “Company”) is a late stage development biopharmaceutical company, with an ongoing registration directed trial, committed to advancing new medicines for patients battling cancer. The Company’s pipeline is focused on novel anticancer agents that inhibit critical signaling pathways in cancer that promote cancer cell survival and tumor growth, particularly rapidly accelerated fibrosarcoma (“RAF”)/ mitogen-activated protein kinase kinase (“MEK”) inhibition and focal adhesion kinase (“FAK”) inhibition.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-bottom:12pt;text-indent:36pt;background:#ffffff;margin:0pt;">The Company’s most advanced product candidates, avutometinib (VS-6766) and defactinib, are being investigated in both preclinical and clinical studies for the treatment of various solid tumors, including, low-grade serous ovarian cancer (“LGSOC”), non-small cell lung cancer (“NSCLC”), colorectal cancer (“CRC”), pancreatic cancer, uveal melanoma, and endometrial cancer. The Company believes that avutometinib (VS-6766) may be beneficial as a therapeutic as a single agent or when used together in combination with defactinib, other agents, other pathway inhibitors or other current and emerging standard of care treatments in cancers that do not adequately respond to currently available therapies.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;background:#ffffff;margin:0pt 0pt 12pt 0pt;">On September 24, 2018, the Company’s first commercial product, COPIKTRA® (duvelisib), was approved by the U.S. Food and Drug Administration (the “FDA”) for the treatment of adult patients with certain hematologic cancers including relapsed or refractory chronic lymphocytic leukemia/ small lymphocytic lymphoma after at least two prior therapies and relapsed or refractory follicular lymphoma after at least two prior systemic therapies. On August 10, 2020, the Company and Secura Bio, Inc. (“Secura”) entered into an asset purchase agreement (“Secura APA”). Pursuant to the Secura APA, the Company sold to Secura its exclusive worldwide license, including certain related assets for the research, development, commercialization, and manufacture in oncology indications of products containing COPIKTRA (duvelisib). The transaction closed on September 30, 2020. Refer to <i style="font-style:italic;">Note 13. License, collaboration, and commercial agreements</i> for a detailed discussion of the Secura APA.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The condensed consolidated financial statements include the accounts of Verastem Securities Company and Verastem Europe GmbH, wholly-owned subsidiaries of the Company. All financial information presented has been consolidated and includes the accounts of the Company and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><span style="white-space:pre-wrap;">The Company is subject to the risks associated with other life science companies, including, but not limited to, possible failure of preclinical testing or clinical trials, competitors developing new technological innovations, inability to obtain marketing approval of the Company’s product candidates, avutometinib (VS-6766) and defactinib, market acceptance and commercial success of the Company’s product candidates, avutometinib (VS-6766) and defactinib, following receipt of regulatory approval, and, protection of proprietary technology and the continued ability to obtain adequate financing to fund the Company’s future operations. If the Company does not obtain marketing approval and successfully commercialize its product candidates, avutometinib (VS-6766) and defactinib, following regulatory approval, it will be unable to generate product revenue or achieve profitability and may need to raise additional capital.</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><span style="white-space:pre-wrap;"> The Company has historical losses from operations and anticipates that it may continue to incur operating losses as it continues the research and development of its product candidates. As of September 30, 2022 the Company had cash, cash equivalents, and investments of </span>$104.0 million, and an accumulated deficit of $720.7 million. The Company expects its existing cash resources will be sufficient to fund its planned operations through at least 12 months from the date of issuance of these condensed consolidated financial statements.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;">The Company expects to finance the future development costs of its clinical product portfolio with its existing cash, cash equivalents, and investments, through future milestones and royalties received pursuant to the Secura APA, through our loan and security agreement with<span style="background:#ffffff;"> Oxford Finance LLC (“Oxford”),</span> or through other strategic financing </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">opportunities that could include, but are not limited to collaboration agreements, future offerings of its equity, or the incurrence of debt. However, there is no guarantee that any of these strategic or financing opportunities will be executed or executed on favorable terms, and some could be dilutive to existing stockholders. If the Company fails to obtain additional future capital, it may be unable to complete its planned preclinical studies and clinical trials and obtain approval of certain investigational product candidates from the FDA or foreign regulatory authorities.</p>
CY2022Q3 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
104000000.0
CY2022Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-720700000
CY2022Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsNumberOfPositions
6
CY2022Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
16400000
us-gaap Concentration Risk Credit Risk Financial Instruments Off Balance Sheet Risk
ConcentrationRiskCreditRiskFinancialInstrumentsOffBalanceSheetRisk
As of September 30, 2022 the Company’s cash, cash equivalents and investments were deposited at three financial institutions and it has no significant off-balance sheet concentrations of credit risk, such as foreign currency exchange contracts, option contracts or other hedging arrangements.
vstm Number Of Financial Institutions In Which Cash Cash Equivalents And Investments Were Deposited
NumberOfFinancialInstitutionsInWhichCashCashEquivalentsAndInvestmentsWereDeposited
3
CY2022Q3 vstm Proceeds From Grants
ProceedsFromGrants
500000
CY2022Q3 vstm Proceeds From Grants
ProceedsFromGrants
1000000.0
CY2022Q3 vstm Reduction In Research And Development Expense
ReductionInResearchAndDevelopmentExpense
100000
us-gaap Increase Decrease In Deferred Liabilities
IncreaseDecreaseInDeferredLiabilities
1000000.0
us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
0
CY2022Q3 us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
0
CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
78166000
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
21252000
CY2022Q3 vstm Restricted Cash Noncurrent And Prepaid Expenses And Other Current Assets
RestrictedCashNoncurrentAndPrepaidExpensesAndOtherCurrentAssets
1214000
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
241000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
79380000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
21493000
CY2022Q3 vstm Cash Cash Equivalents Restricted Cash And Short Term Investments Accumulated Gross Unrealized Gain Before Tax
CashCashEquivalentsRestrictedCashAndShortTermInvestmentsAccumulatedGrossUnrealizedGainBeforeTax
23000
CY2022Q3 vstm Cash Cash Equivalents Restricted Cash And Short Term Investments Accumulated Gross Unrealized Loss Before Tax
CashCashEquivalentsRestrictedCashAndShortTermInvestmentsAccumulatedGrossUnrealizedLossBeforeTax
62000
CY2021Q4 vstm Cash Cash Equivalents Restricted Cash And Short Term Investments Accumulated Gross Unrealized Gain Before Tax
CashCashEquivalentsRestrictedCashAndShortTermInvestmentsAccumulatedGrossUnrealizedGainBeforeTax
48000
CY2021Q4 vstm Cash Cash Equivalents Restricted Cash And Short Term Investments Accumulated Gross Unrealized Loss Before Tax
CashCashEquivalentsRestrictedCashAndShortTermInvestmentsAccumulatedGrossUnrealizedLossBeforeTax
14000
us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
0
CY2021Q3 us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
0
CY2022Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
100000
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsNumberOfPositions
3
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
15800000
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
100000
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
14768189
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
16257400
CY2022Q3 vstm Accrued Research And Development Expenses Current
AccruedResearchAndDevelopmentExpensesCurrent
8163000
CY2021Q4 vstm Accrued Research And Development Expenses Current
AccruedResearchAndDevelopmentExpensesCurrent
9311000
CY2022Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3393000
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3892000
CY2022Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
678000
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
785000
CY2022Q3 vstm Accrued Consulting Fees Current
AccruedConsultingFeesCurrent
956000
CY2021Q4 vstm Accrued Consulting Fees Current
AccruedConsultingFeesCurrent
544000
CY2022Q3 us-gaap Interest Payable Current
InterestPayableCurrent
198000
CY2021Q4 us-gaap Interest Payable Current
InterestPayableCurrent
3000
CY2022Q3 vstm Accrued Commercialization Costs Current
AccruedCommercializationCostsCurrent
479000
CY2021Q4 vstm Accrued Commercialization Costs Current
AccruedCommercializationCostsCurrent
187000
CY2022Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
921000
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
899000
CY2022Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
14788000
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
15621000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
14768189
CY2022Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
25000000
CY2022Q3 vstm Debt Instrument Final Payment Fee
DebtInstrumentFinalPaymentFee
149000
CY2022Q3 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
750000
CY2022Q3 us-gaap Long Term Debt
LongTermDebt
24399000
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
6250000
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
8333000
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
2084000
CY2022Q3 vstm Long Term Debt Maturities Aggregate Principal Due
LongTermDebtMaturitiesAggregatePrincipalDue
25000000
CY2022Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1900000
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
2400000
CY2022Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
221000
CY2021Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
221000
us-gaap Operating Lease Cost
OperatingLeaseCost
664000
us-gaap Operating Lease Cost
OperatingLeaseCost
664000
CY2022Q3 us-gaap Lease Cost
LeaseCost
221000
CY2021Q3 us-gaap Lease Cost
LeaseCost
221000
us-gaap Lease Cost
LeaseCost
664000
us-gaap Lease Cost
LeaseCost
664000
CY2022Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
262000
CY2021Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
257000
us-gaap Operating Lease Payments
OperatingLeasePayments
777000
us-gaap Operating Lease Payments
OperatingLeasePayments
761000
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y9M18D
CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.146
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
262000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1060000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1081000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
546000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
2949000
CY2022Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
506000
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
2443000
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
16257400
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2021Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2022Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2022Q3 us-gaap Other Commitment
OtherCommitment
0

Files In Submission

Name View Source Status
0001558370-22-016278-index-headers.html Edgar Link pending
0001558370-22-016278-index.html Edgar Link pending
0001558370-22-016278.txt Edgar Link pending
0001558370-22-016278-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R54.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
vstm-20220930.xsd Edgar Link pending
vstm-20220930x10q.htm Edgar Link pending
vstm-20220930xex31d1.htm Edgar Link pending
vstm-20220930xex31d2.htm Edgar Link pending
vstm-20220930xex32d1.htm Edgar Link pending
vstm-20220930xex32d2.htm Edgar Link pending
vstm-20220930xex99d1.htm Edgar Link pending
vstm-20220930xex99d1001.jpg Edgar Link pending
vstm-20220930_cal.xml Edgar Link unprocessable
vstm-20220930_def.xml Edgar Link unprocessable
vstm-20220930_lab.xml Edgar Link unprocessable
vstm-20220930_pre.xml Edgar Link unprocessable
vstm-20220930x10q_htm.xml Edgar Link completed