Deciphera Pharma rebounds after pricing equity offering

Deciphera Pharmaceuticals

20/01/2023 15:26

** Deciphera Pharmaceuticals Inc's  DCPH.O  shares up 3.4%
at $19.32 after co raises equity. Stock rises as much as 7.8% to
$20.15
    ** Co late Thurs announced ~6.9 mln shares priced at $18 for
$125 mln raise
    ** DCPH shares on Thurs tumbled ~18% before ending session
down 9.3% at $18.69 as co marketed offering to fund late-stage
studies for cancer drug candidates, Qinlock and vimseltinib
    ** Offering size represents ~10% of co's shares outstanding
    ** Co had cash/cash equivalents of ~$339 mln at end-Dec
    ** With move on Fri, shares up ~19% in 2023 and up nearly
140% over the past year
 (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))