Deciphera Pharma drops on planned $125 mln stock offering

Deciphera Pharmaceuticals

18/01/2023 22:32

** Deciphera Pharmaceuticals Inc's  DCPH.O  shares down ~14%
after hours as co seeks equity raise
    ** Co announces $125 mln stock offering  urn:newsml:reuters.com:*:nBw3GQWnta
    ** Co intends to use net offering proceeds to fund planned
Phase III study of its stomach cancer drug, Qinlock, and
complete Phase III study of its drug, vimseltinib, for treating
tenosynovial giant cell tumors that form in the joints, among
other uses
    ** DCPH finished Weds down 3.1% at $20.61, cutting YTD gain
to ~26%
    ** Co has ~67.6 mln shares outstanding for about $1.4 bln
market cap, per Refinitiv
    ** JP Morgan, Jefferies, Cowen and Guggenheim jt bookrunners
for equity offering, slated to price Thurs after market close
 (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))