Policy & Regulation
Deciphera Pharmaceuticals Raises USD 175m from Common Stock Offering
26 February 2020 - - US-based clinical-stage biopharmaceutical company Deciphera Pharmaceuticals, Inc. (NASDAQ: DCPH) has closed a registered underwritten public offering, the company said.

3,181,818 shares of the company's common stock at a price to the public of USD 55.00 per share were issued and sold in the offering.

The gross proceeds to Deciphera from the offering, before deducting the underwriting discounts and commissions and other estimated offering expenses, are expected to be approximately USD 175m.

In addition, the company has granted the underwriters a 30-day option to purchase up to 477,272 additional shares of its common stock.

J.P. Morgan, Piper Sandler and Jefferies acted as joint book-running managers for the offering. Guggenheim Securities acted as lead manager for the offering. SunTrust Robinson Humphrey acted as co-manager for the offering.

Deciphera intends to use the net proceeds from the offering to fund continued growth of its commercial and medical affairs capabilities to support its transition from a development-stage company toward a commercial-stage company including pursuing development and potential commercialisation in second-line GIST.

It will also use the funds for clinical trials for ripretinib, including the expansion stage of its current Phase 1 clinical trial, its ongoing pivotal Phase 3 clinical trial, and additional clinical trials, as well as clinical research outsourcing and manufacturing of clinical trial material, and pre-commercialisation manufacturing process development and validation.

The company will use the funds for clinical trials for DCC-3014, including the expansion stage of its current Phase 1 clinical trial, and additional clinical trials as well as clinical research outsourcing and manufacturing of clinical trial material; clinical trials for rebastinib, including its current Phase 1b/2 clinical trials, and additional clinical trials as well as clinical research outsourcing and manufacturing of clinical trial material; IND-enabling studies and the potential development of DCC-3116.

It will use the funds for new and ongoing research activities for future drug candidates using its proprietary kinase switch control inhibitor platform; and working capital purposes, including general operating expenses.

Deciphera Pharmaceuticals is a clinical-stage biopharmaceutical company focused on improving the lives of cancer patients by tackling key mechanisms of drug resistance that limit the rate and/or durability of response to existing cancer therapies.

Our small molecule drug candidates are directed against an important family of enzymes called kinases, known to be directly involved in the growth and spread of many cancers.
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