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 that it intends to offer and
sell $125,000,000 of shares of its common stock in an underwritten
public offering. In addition, Deciphera intends to grant the
underwriters a 30-day option to purchase up to an additional
$18,750,000 of shares of common stock offered in the public
offering. All of the shares are being offered by Deciphera. The
offering is subject to market and other conditions, and there can
be no assurance as to whether or when the offering may be
completed, or as to the actual size or terms of the offering.
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 currently underway,
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 are
acting as joint book-running managers for the offering.
The securities described above are being 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 preliminary
prospectus supplement and accompanying prospectus relating to the
offering will be filed with the SEC and will be available on the
SEC’s website located at www.sec.gov. Copies of the preliminary
prospectus supplement and the accompanying prospectus relating to
this offering may be obtained, when available, 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, 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 Deciphera’s intention to conduct the proposed offering, the size
and final terms of the proposed offering, the completion of the
proposed offering and 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230118005979/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
Deciphera Pharmaceuticals (NASDAQ:DCPH)
Historical Stock Chart
From Jun 2024 to Jul 2024
Deciphera Pharmaceuticals (NASDAQ:DCPH)
Historical Stock Chart
From Jul 2023 to Jul 2024