Biopharmaceutical company Deciphera Pharmaceuticals Inc (NASDAQ:DCPH) said on Wednesday that it has priced its registered underwritten public offering of 10,810,810 shares of its common stock at USD37.00 per share.

Before deducting the underwriting discounts and commissions and other estimated offering expenses, the company expects gross proceeds from the offering of USD400.0m.

The company has provided the underwriters with a 30-day option to purchase up to 1,621,621 additional shares of its common stock.

Net proceeds of the offering may be used by the company to fund: clinical trials for ripretinib, including the expansion stage of its current Phase 1 clinical trial, its ongoing pivotal Phase 3 clinical trials, and additional clinical trials, as well as clinical research outsourcing and manufacturing of clinical trial material, and pre-commercialization manufacturing process development and validation; clinical trials for DCC-3014, including the expansion stage of its current Phase 1 clinical trial, as well as clinical research outsourcing and manufacturing of clinical trial material; clinical trials for rebastinib, including its current Phase 1b/2 clinical trial, as well as clinical research outsourcing and manufacturing of clinical trial material; Investigational New Drug-enabling studies and the potential development of DCC-3116; new and ongoing research activities for future drug candidates using its proprietary kinase switch control inhibitor platform; continued growth of its commercial and medical affairs capabilities to support its transition from a development-stage company toward a commercial-stage company; and working capital purposes, including general operating expenses.

JP Morgan, Piper Jaffray and Jefferies acted as joint book-running managers for the offering. The offering is expected to close on or about 19 August 2019, subject to customary closing conditions.