Stem, Inc. Earnings Recaps
Q2 2026
Aug 8, 2026
The stock rallied 14.8% following earnings, driven by meaningful commercial execution and a strengthening balance sheet that exceeded investor expectations.
Key takeaways
- Net product revenues of $25.1 million reflected a resumed growth trajectory for AVMAPKI FAKZYNJA CO-PACK, supported by rising physician confidence and increased prescribing in earlier lines of treatment.
- The company secured up to $75 million in non-dilutive royalty financing with Oberland Capital, drawing $50 million upfront, alongside a $15 million milestone payment, bolstering liquidity without shareholder dilution.
- Encouraging pipeline progress includes completion of enrollment for VS-7375 dose expansion cohorts and FDA fast-track designation for non-small cell lung cancer, with multiple Phase II registration-directed studies underway.
- Commercial efforts focus on new patient starts, earlier treatment adoption, and improving patient adherence to therapy, all showing positive momentum during the quarter.
- Upcoming data updates on the VS-7375 program in October are expected to be an important catalyst for further validation.
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.