Verastem Oncology (NASDAQ: VSTM) is starting to turn heads. This small biotech company just got something pretty big a priority review from the FDA.

That means the agency is moving quickly to look at Verastem’s new cancer drug combo called avutometinib and defactinib. It’s made to help treat a tough type of ovarian cancer called KRAS-mutant.

If things go well, this could hit the U.S. market by the middle of this year.

And that’s not all. The company is also working on another drug called VS-7375. It’s meant to treat some serious cancers like pancreatic and lung cancer. Both are in trials now, and results so far look promising.

Cash Out, Cure In

Let’s talk about money for a second. At the end of last year, Verastem had $88.8 million in cash. Then they did some refinancing and raised more money through equity, and now they’re sitting on $151.3 million.

That’s a good chunk of change for a small company.

Of course, they’re also spending a lot. Their total expenses last year were $125 million. Most of that went into research and trials. The company reported a net loss of $130.6 million.

But that’s not shocking. Small biotechs usually lose money while building new treatments.

Fueling The Team

Verastem is also hiring. They just brought in 15 new employees and gave out stock options and restricted stock units. One new person got over 80,000 RSUs, with some tied to hitting future sales goals.

That shows Verastem is planning for growth and getting ready to scale up.

So, is Verastem about to take off?

Maybe. If the FDA gives the green light and clinical trial results keep looking good, this could be a big year for them.