Deciphera Pharma down after $150 mln stock offering

Deciphera Pharmaceuticals

27/04/2022 12:59

** Deciphera Pharmaceuticals  DCPH.O  shares down 4% at
$9.95 premarket after follow-on prices
    ** Cancer drug developer sells 15 mln shares, including ~9.7
mln pre-funded warrants in lieu of shares, at $10  urn:newsml:reuters.com:*:nBwrpGNta
    ** Offering prices at 3.5% discount to stock's last close
    ** Pre-funded warrants allow existing investors to reinvest
without exceeding ownership thresholds that would trigger
greater disclosure requirements
    ** DCPH plans to use net offering proceeds to fund
development of its drug vimseltinib for treating tenosynovial
giant cell tumors that form in the joints
    ** Co has ~58.6 mln shares outstanding for ~$600 mln market
cap, per Refinitiv, and ~41.7 mln shares of public float
    ** On Nov 5, shares plummeted 76% to $8.82 after its stomach
cancer drug Qinlock failed Phase III trial  urn:newsml:reuters.com:*:nL4N2RW37F

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))