Deciphera Pharmaceuticals Announces Pricing of Public Offering of Common Stock
Deciphera intends 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; to fund the development of DCC-3116, including multiple expansion cohorts in the ongoing Phase 1b combination dose escalation studies and potential Phase 2 expansion combination cohorts in multiple tumor types as well as clinical research outsourcing and manufacturing of clinical trial material; to fund the research and development of its pan-RAF program, as well as a potential new development candidate and other new research activities from its proprietary discovery engine of novel switch control inhibitors; and the remainder for working capital purposes, including general operating expenses.
J.P. Morgan, Jefferies, Cowen, and
The securities described above are being offered by Deciphera pursuant to a shelf registration statement on Form S-3 (No. 333-266523) that was declared effective by the
This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that state or jurisdiction.
Deciphera is a biopharmaceutical company focused on discovering, developing, and commercializing important new medicines to improve the lives of people with cancer. We are leveraging our proprietary switch-control kinase inhibitor platform and deep expertise in kinase biology to develop a broad portfolio of innovative medicines. In addition to advancing multiple product candidates from our platform in clinical studies, QINLOCK® is Deciphera’s switch control inhibitor for the treatment of fourth-line GIST. QINLOCK is approved in
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, without limitation, statements related to the timing and completion of the proposed offering and the anticipated use of proceeds from the proposed offering. The words “may,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “seek,” “target” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Any forward-looking statements in this press release are based on management’s current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release. These risks and uncertainties include fluctuations in Deciphera’s stock price, changes in market conditions, satisfaction of customary closing conditions related to the public offering, and other risks identified in our
Deciphera, the Deciphera logo, QINLOCK, and the QINLOCK logo are registered trademarks of