Deciphera Pharma Announces Corporate Restructuring; To Cut About 140 Positions - Quick Facts

(RTTNews) - Biopharmaceutical company Deciphera Pharmaceuticals, Inc. (DCPH) announced Tuesday a corporate restructuring intended to prioritize clinical development of select programs, streamline commercial operations, maintain a focus on discovery research and extend the Company's cash runway.

Following a detailed review of its portfolio and growth opportunities, Deciphera will focus its resources on the continued advancement of vimseltinib and DCC-3116, while discontinuing the rebastinib program.

The Company will streamline commercial operations for QINLOCK in the U.S. and focus commercialization efforts on a select number of key European markets. These changes are expected to result in a significant reduction in operating expenses, including personnel-related costs and external expenses, and extend the Company's cash runway into 2024.

The Company will implement an organizational restructuring that will result in a workforce reduction of approximately 35%, or approximately 140 positions. The restructuring is expected to affect U.S. employees across all areas of the organization.

Deciphera will remain focused on the commercialization of QINLOCK for the treatment of fourth-line GIST in the U.S. with a reduced commercial team.

Deciphera expects to recognize a one-time cash charge in the fourth quarter of approximately $32 million associated principally with the workforce reduction and discontinuation of continued clinical development of rebastinib and ripretinib.