Deciphera Pharma Prices Public Offering Of 6.94 Mln Shares At $18/shr

(RTTNews) - Deciphera Pharmaceuticals Inc. (DCPH) said that it has priced an underwritten public offering of 6.94 million shares of its common stock at a public offering price of $18.00 per share.

The company expects aggregate gross proceeds to Deciphera from the offering to be about $125 million, before deducting underwriting discounts and commissions and other estimated offering expenses.

In addition, Deciphera has granted the underwriters a 30-day option to purchase up to an additional 1.04 million shares of common stock at the public offering price of $18.00 per share, less underwriting discounts and commissions. The offering is expected to close on January 24, 2023.

Deciphera plans 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.