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Verastem Oncology Names Michael Bailey CEO

October 14, 2026 — 06:23 am EDT

Written by RTTNews.com for RTTNews

(RTTNews) - Verastem, Inc. (VSTM), a biopharmaceutical company focused on developing and commercializing medicines for cancer treatment, said Wednesday that it has appointed Michael P. Bailey as President and Chief Executive Officer, effective January 1, 2027.

Bailey will succeed Daniel Paterson, who is retiring as President and CEO. Paterson will continue to serve on the company's Board as an advisor.

Bailey brings more than 30 years of biopharmaceutical industry experience, including over 25 years in oncology drug development and commercialization. His expertise spans corporate strategy, commercial operations, business development, clinical development, corporate finance and capital markets. He has served on Verastem's Board since May 2026 and previously spent 16 years at AVEO Pharmaceuticals, Inc. (AVEO).

Verastem shares were up nearly 20% in pre-market trading after closing at $7.45 on Tuesday.

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