Departure and appointment · 14 October 2026
Verastem, Inc.
VSTM · Listed
Key facts
- How the CEO left
- Retirement
- Planned or abrupt
- Planned
- Successor
- Internal (a current executive)
- Outgoing CEO stays as
- Board member
- Signs it was forced
- None stated
- Other news alongside
- None
- Effective
- 1 January 2027
- Reason given
- decision to retire following a 35-year career in the biopharmaceutical industry
Read from the filing and press release by a language model (Google Gemini), told to use only that text. It can make mistakes; the quotes below are the source.
The announcement
Chief Executive Officer Transition On October 12, 2026, Daniel W. Paterson notified the Board of Directors (the “Board”) of the Company of his decision to retire as President and Chief Executive Officer of the Company, effective January 1, 2027 (the “Effective Date”).
In connection with the retirement of Mr. Paterson, Michael Bailey, 61, will be appointed to the position of President and Chief Executive Officer as of the Effective Date.
Sentences matched by our CEO change rules, from the first filing. Read the 8-K on SEC EDGAR ↗
Share price reaction
The filing reached SEC EDGAR on 14 October 2026 at 10:08 New York time, during trading hours, so day 0 is that same day. Day 0 is marked by the vertical line.
| Window | VSTM | S&P 500 | Abnormal |
|---|---|---|---|
| Days 0 to +1 | +23.9% | −0.8% | +24.4% |
| Days 0 to +3 | +15.7% | −1.5% | +18.9% |
| 1 month (days 0 to +21)so far, 10 of 22 days | +35.6% | −1.1% | +36.1% |
| 3 months (days 0 to +63)so far, 10 of 64 days | +35.6% | −1.1% | +36.1% |
The abnormal return is the stock's return beyond what its usual relationship with the market (beta 1.11) predicts. A single stock's move can reflect other news on the same days, so it describes what happened rather than measuring the effect of the CEO change; averages across many events are on the Research design page as they are completed.
News coverage
- Verastem Reports VS-7375 Data, Prices $250M Offering And Names New CEO; Shares Up In Premarket ↗
rttnews.com · 14 October 2026 · Tone: positive
Headlines from the day before the filing to three days after, found in the GDELT news index by company name, so an occasional match may be about something else. Tone is FinBERT's reading of the headline alone, a language model trained on financial news; it is not our view of the change.