Verastem Oncology's experimental cancer pill VS-7375 shrank tumors in some patients with pancreatic, colorectal and lung cancers in an early study, BioPharma Dive and BioSpace reported.

The drug targets G12D, the most common of the KRAS mutations that drive cancer, BioPharma Dive reported. Verastem says it binds to both the "on" and "off" states of the mutation, which may hold back tumor growth more fully than rival drugs.

Among 22 patients with metastatic pancreatic cancer who got the 900 mg daily dose after earlier treatment, 41% saw their tumors shrink, including two complete responses, Fierce Biotech reported. Response rates ranged from 36% to 50% depending on how many earlier treatments patients had received, BioPharma Dive reported.

"I think we have a true blockbuster," Verastem CEO Dan Paterson told investors on a call, Fierce Biotech reported. He said the company had "set a new benchmark in PDAC," the most common type of pancreatic cancer.

The response rate was 33% in colorectal cancer patients and 43% in lung cancer patients, BioPharma Dive reported.

Side effects at the 900 mg dose were mostly low-grade nausea, vomiting and diarrhea, BioSpace reported. Across the trial, 2% of patients stopped treatment because of side effects.

"A competitive profile," RBC Capital Markets analyst Leonid Timashev wrote of the data, BioPharma Dive reported. Verastem shares rose 18% Wednesday. The company also announced a $250 million stock offering and a plan for a new CEO.

The study is small, and the drug still has to succeed in larger trials, BioPharma Dive reported. Verastem has reached agreement with the FDA on a Phase 3 trial that will test the drug as a first treatment for pancreatic cancer, starting by the end of the year, BioPharma Dive and BioSpace reported.

What we know: VS-7375 shrank tumors in 41% of 22 pancreatic cancer patients at the 900 mg dose in an early study.
What we don't: Whether the drug will help patients live longer in larger trials.