2 February 2012 - US biopharmaceutical company Verastem Inc said on Thursday the underwriters in its initial public offering (IPO) had taken full advantage of their over-allotment option for 825,000 shares.

Thus, an aggregate of 6.325m common shares of the company were sold at USD10.00 per share.

UBS Investment Bank and Leerink Swann LLC served as joint book-running managers for the offering. Lazard Capital Markets LLC, Oppenheimer & Co Inc and Rodman & Renshaw LLC acted as co-managers for the transaction.

Verastem develops therapies to treat breast and other cancers by targeting cancer stem cells.