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Verastem Oncology Announces Inducement Grants under Nasdaq Listing Rule 5635(c)(4)

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Verastem, Inc. (NASDAQ:VSTM), focused on developing and commercializing
medicines to improve the survival and quality of life of cancer
patients, today announced the grant of stock options to fifty-seven new
employees to purchase an aggregate of 1,031,500 shares of Verastem
Oncology's common stock. The options were granted as an inducement
material to the employees' acceptance of employment with Verastem
Oncology in accordance with Nasdaq Listing Rule 5635(c)(4). The options
have an exercise price equal to $7.74 per share, the closing price of
Verastem Oncology's common stock as reported by Nasdaq on August 1,
2018. One-fourth of the shares underlying one of the employee's options
will vest on the one-year anniversary of his date of hire, and
thereafter, an additional 6.25% of the shares subject to the options
will vest at the end of each successive three-month period, provided
that the employee continues to serve as an employee of or other service
provider to Verastem Oncology on each such vesting date. One-fifth of
the shares underlying fifty-six of the employee's options will vest on
the one-year anniversary of his or her date of hire, and thereafter, and
additional 5.00% of the shares subject to the options will vest at the
end of each successive three-month period, provided that the employee
continues to serve as an employee of or other service provider to
Verastem Oncology on each such vesting date.

About Verastem Oncology

Verastem, Inc. (NASDAQ:VSTM), operating as Verastem Oncology, is a
biopharmaceutical company focused on developing and commercializing
medicines to improve the survival and quality of life of cancer
patients. Verastem Oncology is currently developing duvelisib, a dual
inhibitor of PI3K-delta and PI3K-gamma, which has successfully met its
primary endpoint in a Phase 2 study in indolent non-Hodgkin lymphoma and
a Phase 3 clinical trial in patients with chronic lymphocytic
leukemia/small lymphocytic lymphoma (CLL/SLL). Verastem Oncology's New
Drug Application (NDA) requesting the full approval of duvelisib for the
treatment of patients with relapsed or refractory CLL/SLL, and
accelerated approval for the treatment of patients with relapsed or
refractory follicular lymphoma (FL) was accepted for filing by the U.S.
Food and Drug Administration, granted Priority Review and assigned a
target action date of October 5, 2018. In addition, Verastem Oncology is
developing the focal adhesion kinase (FAK) inhibitor defactinib, which
is currently being evaluated in three separate clinical collaborations
in combination with immunotherapeutic agents for the treatment of
several different cancer types, including pancreatic cancer, ovarian
cancer, non-small cell lung cancer (NSCLC), and mesothelioma. Verastem
Oncology's product candidates seek to treat cancer by modulating the
local tumor microenvironment and enhancing anti-tumor immunity.

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