Verastem Hires a CFO

Before you go, we thought you'd like these...
Before you go close icon

Cambridge, Mass.-based Verastem has a new CFO.

On Tuesday, the small-cap cancer researcher announced it has hired former GTC Biotherapeutics CGO John Green to become its own chief financial officer. Describing the hire, Verastem Lead Director Henri Termeer confided that having served in the finance departments of several other public and private biotechs already, "Jack brings a great deal of experience in the financial management of biotechnology companies."

In an SEC filing, Verastem further informed that it will be paying Green a base annual salary of $310,000, plus an annual bonus targeting 35% of base salary, and 150,000 stock options.


Unprofitable Verastem does not currently have revenues coming in, but it does have multiple programs in or entering clinical development in 2013, including:

  • A trial of FAK inhibitor VS-6063 to treat mesothelioma, beginning in midyear 2013.
  • Dual PI3K/mTOR inhibitor VS-5584, expected to start clinical development in H2 2013.
  • FAK inhibitor VS-4718, slated to begin phase 1 trials against advanced solid tumors soon.

The article Verastem Hires a CFO originally appeared on Fool.com.

Fool contributor Rich Smith and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners