NEEDHAM, Mass. (AP) _ Verastem Inc. (VSTM) on Wednesday reported a loss of $38.8 million in its fourth quarter.
On a per-share basis, the Needham, Massachusetts-based company said it had a loss of 51 cents.
The drug developer posted revenue of $3.6 million in the period.
For the year, the company reported that its loss widened to $149.2 million, or $2 per share. Revenue was reported as $17.5 million.
In the final minutes of trading on Wednesday, the company's shares hit $2.44. A year ago, they were trading at $2.97.