Verastem Boosted After Positive Top-Line Data For Leukemia Treatment

Verastem Inc VSTM shares are trading higher by $1.14 (30 percent) at $4.99 in Wednesday's session.

The catalyst for the rally is the announcement of positive top-line data from the Pivot Phase 3 DUO study for the treatment of certain types of Leukemia and Lymphoma.

Its much higher opening print is only 2 cents from the session high of $5.55. That marks the first time the stock has traded over $5.00 since September 25, 2015, when it peaked at $6.00. Profit-takers have come into the stock and nudged it lower with $4.83 standing as the low for the day as of 1:10 p.m. EST.

It's also attempting to post its first close over $5.00 since September 25, 2015, when it ended that session at $5.67.