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Verastem prices $35M common stock offering

Verastem Inc. will raise gross proceeds of $35 million via a public offering of 7,777,778 shares.

The biotechnology company priced its shares at $4.50 apiece and also granted the underwriters an option to purchase an additional 1,166,666 shares.

The offering is expected to close May 18, subject to customary closing conditions.

Cantor Fitzgerald & Co. is acting as sole book-running manager for the offering.

Needham, Mass.-based Verastem is a biopharmaceutical company focused on discovering and developing drugs for the treatment of cancer.