Cowen sees strong growth prospects for Deciphera Pharma's cancer drug

Deciphera Pharmaceuticals

29/08/2022 12:08

** Brokerage Cowen starts coverage of Deciphera
Pharmaceuticals Inc  DCPH.O  with "outperform", citing growth
prospects for company's sole commercial drug as well as a
potential boost from its pipeline
    ** Cowen says Qinlock has become the clear standard-of-care
among patients with a type of gastrointestinal cancer who have
undergone prior therapy; the drug is approved in the U.S. and
several other countries
    ** Brokerage believes the drug, which generated sales
of$31.5 mln in Q2, is poised to grow through expansion outside
the U.S. for gastrointestinal cancer
    ** Also believes off-label use could drive additional growth
in the United States; sets PT of $25 for DCPH, a 68% upside to
stock's last close
    ** Brokerage believes there could be additional upside to
shares from data on company's drug candidate, vimseltinib, for a
type of benign tumor and experimental cancer therapy DCC-3116
due next week
    ** Up to its last close, DCPH had gained 52% YTD,
outperforming the Nasdaq Biotech index  .NBI , which declined
17.2%

 (Reporting by Amruta Khandekar)
 ((Amruta.Khandekar@thomsonreuters.com;))