UPDATE - UBS Initiates Coverage on Verstem (VSTM) with a Buy; New Approach To An Old Problem

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UPDATE - UBS initiates coverage on Verstem (Nasdaq: VSTM) with a Buy rating. PT $20.

UBS analyst says, "VSTM is an early-stage biotechnology company that we view as uniquely positioned to leverage recent advances in cancer genetics and develop products that could overcome multidrug resistance to chemotherapy. We think at least one of its 3 late preclinical assets has the potential to reach proof of concept in “triple-negative” breast cancer, which would trigger significant valuation step-ups over 1-3 years."


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