Verastem Inc. IPO shares prices january 23 2012

Verastem Inc. IPO shares prices january 23 2012 : Verastem, a one-year old startup focused on developing drugs that target cancer stem cells, plans to set pricing for its IPO during the week of Jan. 23, the IPO research firm Renaissance Capital reported, Friday.

The Cambridge, Mass. company plans to raise $45 million by offering 4.5 million shares at a price range of between $9 and $11. If Verastem begins trading at the midpoint of the range, the company, which has not yet begun any clinical trials, would have a market value of $196 million. Verastem plans to list on the NASDAQ under the ticker symbol VSTM. UBS and Leerink Swann are the lead underwriters on the deal.

Verastem’s CEO is serial entrepreneur Christoph Westphal, who founded Sirtris Pharmaceuticals which was bought by UK-based drug maker GlaxoSmithKline in 2008 for $720 million. Verastem is backed by Longwood Founders Fund, a Boston venture firm co-founded by Westphal, and by Bessemer Venture Partners For the latest updates on the stock market, visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today

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