March 11, 2020 / 8:56 PM / 21 days ago

BRIEF-Verastem Oncology Reports Fourth Quarter And Full-Year 2019 Financial Results

March 11 (Reuters) - Verastem Inc:

* VERASTEM ONCOLOGY REPORTS FOURTH QUARTER AND FULL-YEAR 2019 FINANCIAL RESULTS

* Q4 ADJUSTED NON-GAAP LOSS PER SHARE $0.40

* Q4 LOSS PER SHARE $0.51

* Q4 EARNINGS PER SHARE ESTIMATE $-0.46 — REFINITIV IBES DATA

* EXPECTS TO REDUCE ITS OPERATING EXPENSES BY APPROXIMATELY 40% FOR 2020

* GUIDING THAT 2020 COPIKTRA REVENUES MAY BE IN RANGE OF $12 MILLION TO $16 MILLION

* VERASTEM - EXPECTS EXISTING CASH AND CASH EQUIVALENTS, ALONG WITH EXPECTED COPIKTRA REVENUE, WILL BE SUFFICIENT TO FUND PLANNED OPERATIONS INTO Q4 OF 2021

* QTRLY NET PRODUCT REVENUE WAS $3.6 MILLION, COMPARED TO $1.2 MILLION Source text for Eikon: Further company coverage:

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