Deciphera Pharmaceuticals, Inc. (NASDAQ: DCPH), a
biopharmaceutical company focused on discovering, developing, and
commercializing important new medicines to improve the lives of
people with cancer, today announced the closing of its underwritten
public offering of 7,986,111 shares of its common stock. The shares
of common stock sold include 1,041,666 shares pursuant to the
option granted by Deciphera to the underwriters, which option was
exercised in full. The public offering price of each share of
common stock was $18.00. The aggregate gross proceeds to Deciphera
from this offering were approximately $143.7 million, before
deducting underwriting discounts and commissions and other
estimated offering expenses.
Deciphera intends to use the net proceeds from the offering to
fund its planned Phase 3 INSIGHT study of QINLOCK® versus sunitinib
in second-line GIST patients with mutations in KIT exon 11 and
17/18 only; to fund the development of vimseltinib, including
completion of its Phase 3 MOTION study of vimseltinib in
tenosynovial giant cell tumor patients, additional clinical trials
as well as clinical research outsourcing and manufacturing of
clinical trial material and pre-commercial and medical affairs
capabilities related to vimseltinib; to fund the development of
DCC-3116, including multiple expansion cohorts in the ongoing Phase
1b combination dose escalation studies and potential Phase 2
expansion combination cohorts in multiple tumor types as well as
clinical research outsourcing and manufacturing of clinical trial
material; to fund the research and development of its pan-RAF
program, as well as a potential new development candidate and other
new research activities from its proprietary discovery engine of
novel switch control inhibitors; and the remainder for working
capital purposes, including general operating expenses.
J.P. Morgan, Jefferies, Cowen, and Guggenheim Securities acted
as joint book-running managers for the offering.
The securities described above were offered by Deciphera
pursuant to a shelf registration statement on Form S-3 (No.
333-266523) that was declared effective by the Securities and
Exchange Commission (SEC) on August 10, 2022. A copy of the final
prospectus supplement and accompanying prospectus relating to the
offering has been filed with the SEC and may be obtained by
contacting: J.P. Morgan Securities LLC, c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by
telephone at 866-803-9204, or by email at
prospectus-eq_fi@jpmchase.com; Jefferies LLC, Attention: Equity
Syndicate Prospectus Department, 520 Madison Avenue, New York, NY
10022, by telephone at 877-821-7388 or by email at
Prospectus_Department@Jefferies.com; Cowen and Company, LLC, c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood,
NY 11717, via telephone: +1 (833) 297-2926, or via email:
PostSaleManualRequests@broadridge.com; or Guggenheim Securities,
LLC, Attention: Equity Syndicate Department, 330 Madison Avenue,
New York, New York 10017, by telephone at 212-518-9544 or by email
at GSEquityProspectusDelivery@guggenheimpartners.com.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of that
state or jurisdiction.
About Deciphera Pharmaceuticals
Deciphera is a biopharmaceutical company focused on discovering,
developing, and commercializing important new medicines to improve
the lives of people with cancer. We are leveraging our proprietary
switch-control kinase inhibitor platform and deep expertise in
kinase biology to develop a broad portfolio of innovative
medicines. In addition to advancing multiple product candidates
from our platform in clinical studies, QINLOCK® is Deciphera’s
switch-control inhibitor for the treatment of fourth-line GIST.
QINLOCK is approved in Australia, Canada, China, the European
Union, Hong Kong, Israel, New Zealand, Switzerland, Taiwan, the
United Kingdom, and the United States.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, as amended, including, without limitation, statements related
to the anticipated use of proceeds from the proposed offering. The
words “may,” “will,” “could,” “would,” “should,” “expect,” “plan,”
“anticipate,” “intend,” “believe,” “estimate,” “predict,”
“project,” “potential,” “continue,” “seek,” “target” and similar
expressions are intended to identify forward-looking statements,
although not all forward-looking statements contain these
identifying words. Any forward-looking statements in this press
release are based on management’s current expectations and beliefs
and are subject to a number of risks, uncertainties and important
factors that may cause actual events or results to differ
materially from those expressed or implied by any forward-looking
statements contained in this press release. These risks and
uncertainties include fluctuations in Deciphera’s stock price,
changes in market conditions, satisfaction of customary closing
conditions related to the public offering, and other risks
identified in our SEC filings, including our Quarterly Report on
Form 10-Q for the quarter ended September 30, 2022, and subsequent
filings with the SEC. We caution you not to place undue reliance on
any forward- looking statements, which speak only as of the date
they are made. We disclaim any obligation to publicly update or
revise any such statements to reflect any change in expectations or
in events, conditions or circumstances on which any such statements
may be based, or that may affect the likelihood that actual results
will differ from those set forth in the forward-looking
statements.
Deciphera, the Deciphera logo, QINLOCK, and the QINLOCK logo are
registered trademarks of Deciphera Pharmaceuticals, LLC.
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version on businesswire.com: https://www.businesswire.com/news/home/20230124005843/en/
Investor Relations: Maghan Meyers Argot Partners
Deciphera@argotpartners.com 212-600-1902
Media: David Rosen Argot Partners
David.Rosen@argotpartners.com 212-600-1902
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