Stem, Inc. Earnings Recaps
Q1 2026
May 8, 2026
Verastem’s shares plunged 18.6% following earnings as investors reacted negatively to continued launch execution challenges and patient discontinuations that suggest demand and retention are weaker than expected.
Key takeaways
- Q1 net product revenue for AVMAPKI FAKZYNJA CO-PACK reached $18.7 million, totaling nearly $50 million since launch in May 2025.
- Patient starts and refills were hindered by insurance turnover, severe weather, and earlier-than-anticipated treatment discontinuations, particularly among patients advanced in their disease.
- Prescriber base expanded to over 400 unique doctors, split roughly 60% gynecologic oncologists and 40% medical oncologists, with strong physician preference for CO-PACK at recurrence.
- Duration of therapy and refill frequency remain unclear, with active patient pool growth offset by discontinuation trends.
- Commercial leadership changes and targeted operational adjustments underscore management’s efforts to address launch execution issues and patient identification challenges.
Q3 2025
Nov 4, 2025
Verastem Oncology reported strong Q3 results with net product revenue of $11.2 million from the AVMAPKI FAKZYNJA CO-PACK launch, indicating robust adoption by healthcare providers and effective commercial strategies.
Key takeaways
- Net product revenue for Q3 2025 was $11.2 million, exceeding expectations fueled by strong physician engagement and patient initiation.
- The company successfully achieved its three launch objectives: enhancing physician outreach, supporting patient access, and streamlining reimbursement processes.
- Over 60% of prescriptions are generated by gynecological oncologists, with a substantial presence in both academic and community practices.
- Enrollment in clinical trials for AVMAPKI FAKZYNJA CO-PACK and VS-7375 programs remains on track, with positive safety and tolerability data reported.
- High engagement levels with healthcare providers and effective outreach to patients showcase the brand's strength and market penetration.