Deciphera Pharmaceuticals Announces Full Exercise of Underwriters’ Option to Purchase Additional Shares in Public Offering ...
September 03 2019 - 4:01PM
Business Wire
Deciphera Pharmaceuticals, Inc. (Nasdaq:DCPH), a clinical-stage
biopharmaceutical company focused on addressing key mechanisms of
tumor drug resistance, today announced that the underwriters of its
previously announced public offering of common stock have exercised
their option to purchase an additional 1,621,621 shares of the
Company’s common stock at a price of $37.00 per share before
underwriting discounts. The option exercise closed on September 3,
2019. On August 19, 2019, Deciphera announced the closing of its
registered underwritten public offering in which 10,810,810 shares
of the Company’s common stock at a price to the public of $37.00
per share were issued and sold. The gross proceeds to Deciphera
from the offering inclusive of the exercise of the underwriters’
option to purchase additional shares, before deducting the
underwriting discounts and commissions and other estimated offering
expenses, are expected to be approximately $460.0 million.
J.P. Morgan, Piper Jaffray 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 of the offering 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 trials, 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.
The offering was made only by means of a prospectus supplement
and accompanying prospectus forming part of a shelf registration
statement on Form S-3 previously filed with the Securities and
Exchange Commission (SEC) and declared effective by the SEC on
October 12, 2018. The final prospectus supplement and the
accompanying prospectus was filed with the SEC and is available on
the SEC’s website located at http://www.sec.gov. Copies of the
final prospectus supplement and the accompanying prospectus
relating to the offering may also be obtained from J.P. Morgan
Securities LLC c/o Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, NY 11717, or by telephone at (866) 803-9204, or
by email at prospectus-eq_fi@jpmchase.com; Piper Jaffray & Co.,
800 Nicollet Mall, J12S03, Minneapolis, Minnesota, 55402,
Attention: Prospectus Department, by telephone at (800) 747-3924 or
by email at prospectus@pjc.com; and Jefferies LLC, Attention:
Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd
Floor, New York, NY 10022, by telephone at (877) 821-7388 or by
email at prospectus_department@Jefferies.com.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy, 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 any such state or
jurisdiction.
About Deciphera Pharmaceuticals
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. We use our deep
understanding of kinase biology together with a proprietary
chemistry library to purposefully design compounds that maintain
kinases in a “switched off” or inactivated conformation. These
investigational therapies comprise tumor-targeted agents designed
to address therapeutic resistance causing mutations and
immuno-targeted agents designed to control the activation of
immunokinases that suppress critical immune system regulators, such
as macrophages. We have used our platform to develop a diverse
pipeline of tumor-targeted and immuno-targeted drug candidates
designed to improve outcomes for patients with cancer by improving
the quality, rate and/or durability of their responses to
treatment.
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, those regarding
the potential of and clinical development plans for Deciphera
Pharmaceuticals’ drug candidates, particularly ripretinib, and
risks and uncertainties related to the anticipated use of the
proceeds of the offering, which could change as a result of market
conditions or for other reasons. The words “may,” “will,” “could,”
“would,” “should,” “expect,” “plan,” “anticipate,” “intend,”
“believe,” “estimate,” “predict,” “project,” “potential,”
“continue,” “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, including, without limitation, risks and
uncertainties related to the delay of any current or planned
clinical studies or the development of our drug candidates,
including ripretinib, our advancement of multiple early-stage and
later-stage efforts, our ability to successfully demonstrate the
efficacy and safety of our drug candidates including in later-stage
studies, the preclinical and clinical results for our drug
candidates, which may not support further development of such drug
candidates, our efforts to scale up and manage drug product
manufacturing, our ability to implement commercial readiness,
actions of regulatory agencies, any or all of which may affect the
initiation, timing and progress of clinical studies and other risks
identified in our SEC filings, including our Quarterly Report on
Form 10-Q for the quarter ended June 30, 2019, our final prospectus
supplement filed with the SEC on August 15, 2019, 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.
Any forward-looking statements contained in this press release
represent our views only as of the date hereof and should not be
relied upon as representing its views as of any subsequent date. We
explicitly disclaim any obligation to update any forward-looking
statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20190903005786/en/
Investor Relations: Jen Robinson Deciphera Pharmaceuticals, Inc.
jrobinson@deciphera.com 781-906-1112
Media: David Rosen Argot Partners
David.Rosen@argotpartners.com 212-600-1902
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