Deciphera Pharmaceuticals, Inc. (NASDAQ:DCPH), a clinical-stage
biopharmaceutical company focused on addressing key mechanisms of
tumor drug resistance, today announced the pricing of its
previously announced registered underwritten public offering of
10,810,810 shares of its common stock at a price to the public of
$37.00 per share. The gross proceeds to Deciphera from the
offering, before deducting the underwriting discounts and
commissions and other estimated offering expenses, are expected to
be $400.0 million. The offering is expected to close on or about
August 19, 2019, subject to customary closing conditions. In
addition, Deciphera has granted the underwriters a 30-day option to
purchase up to 1,621,621 additional shares of its common stock.
J.P. Morgan, Piper Jaffray and Jefferies acted as joint
book-running managers for the offering. Guggenheim Securities acted
as lead manager for the offering. SunTrust Robinson Humphrey acted
as co-manager for the offering.
Deciphera intends to use the net proceeds of the offering to
fund: clinical trials for ripretinib, including the expansion stage
of its current Phase 1 clinical trial, its ongoing pivotal Phase 3
clinical trials, and additional clinical trials, as well as
clinical research outsourcing and manufacturing of clinical trial
material, and pre-commercialization manufacturing process
development and validation; clinical trials for DCC-3014, including
the expansion stage of its current Phase 1 clinical trial, as well
as clinical research outsourcing and manufacturing of clinical
trial material; clinical trials for rebastinib, including its
current Phase 1b/2 clinical trial, as well as clinical research
outsourcing and manufacturing of clinical trial material;
Investigational New Drug-enabling studies and the potential
development of DCC-3116; new and ongoing research activities for
future drug candidates using its proprietary kinase switch control
inhibitor platform; continued growth of its commercial and medical
affairs capabilities to support its transition from a
development-stage company toward a commercial-stage company; and
working capital purposes, including general operating expenses.
A shelf registration statement relating to the shares of common
stock offered in the public offering described above was filed with
the Securities and Exchange Commission (SEC) and was declared
effective by the SEC on October 12, 2018. The securities may be
offered only by means of a written prospectus, including a
prospectus supplement, forming a part of the effective registration
statement. A preliminary prospectus supplement and accompanying
prospectus relating to the offering have been filed with the SEC
and are available on the SEC’s website at www.sec.gov. A final
prospectus supplement and accompanying prospectus will be filed
with the SEC. When available, copies of the final prospectus
supplement and the accompanying prospectus relating to the offering
may also be obtained from J.P. Morgan Securities LLC c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717,
or by telephone at (866) 803-9204, or by email at
prospectus-eq_fi@jpmchase.com; Piper Jaffray & Co., 800
Nicollet Mall, J12S03, Minneapolis, Minnesota, 55402, Attention:
Prospectus Department, by telephone at (800) 747-3924 or by email
at prospectus@pjc.com; and Jefferies LLC, Attention: Equity
Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New
York, NY 10022, by telephone at (877) 821-7388 or by email at
prospectus_department@Jefferies.com.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy, 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 any such state or
jurisdiction.
About Deciphera Pharmaceuticals
Deciphera Pharmaceuticals is a clinical-stage biopharmaceutical
company focused on improving the lives of cancer patients by
tackling key mechanisms of drug resistance that limit the rate
and/or durability of response to existing cancer therapies. Our
small molecule drug candidates are directed against an important
family of enzymes called kinases, known to be directly involved in
the growth and spread of many cancers. We use our deep
understanding of kinase biology together with a proprietary
chemistry library to purposefully design compounds that maintain
kinases in a “switched off” or inactivated conformation. These
investigational therapies comprise tumor-targeted agents designed
to address therapeutic resistance causing mutations and
immuno-targeted agents designed to control the activation of
immunokinases that suppress critical immune system regulators, such
as macrophages. We have used our platform to develop a diverse
pipeline of tumor-targeted and immuno-targeted drug candidates
designed to improve outcomes for patients with cancer by improving
the quality, rate and/or durability of their responses to
treatment.
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, those regarding
the potential of and clinical development plans for Deciphera
Pharmaceuticals’ drug candidates, particularly ripretinib, risks
and uncertainties related to the offering such as market
conditions, the possibility that the closing conditions of the
offering will not be met and/or that the parties will be unable to
consummate the transaction on the anticipated terms or at all, that
the cost of the transaction to the Company will be more than
planned, the timing or occurrence of the closing, prevailing market
conditions and the anticipated use of the proceeds of the offering,
which could change as a result of market conditions or for other
reasons. The words “may,” “will,” “could,” “would,” “should,”
“expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,”
“predict,” “project,” “potential,” “continue,” “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, including, without
limitation, risks and uncertainties related to the delay of any
current or planned clinical studies or the development of our drug
candidates, including ripretinib, our advancement of multiple
early-stage and later-stage efforts, our ability to successfully
demonstrate the efficacy and safety of our drug candidates
including in later-stage studies, the preclinical and clinical
results for our drug candidates, which may not support further
development of such drug candidates, our efforts to scale up and
manage drug product manufacturing, our ability to implement
commercial readiness, actions of regulatory agencies, any or all of
which may affect the initiation, timing and progress of clinical
studies and other risks identified in our SEC filings, including
our Quarterly Report on Form 10-Q for the quarter ended June 30,
2019, and subsequent filings with the SEC. We caution you not to
place undue reliance on any forward-looking statements, which speak
only as of the date they are made. We disclaim any obligation to
publicly update or revise any such statements to reflect any change
in expectations or in events, conditions or circumstances on which
any such statements may be based, or that may affect the likelihood
that actual results will differ from those set forth in the
forward-looking statements. Any forward-looking statements
contained in this press release represent our views only as of the
date hereof and should not be relied upon as representing its views
as of any subsequent date. We explicitly disclaim any obligation to
update any forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20190814005810/en/
Investor Relations: Jen Robinson Deciphera Pharmaceuticals, Inc.
jrobinson@deciphera.com 781-906-1112 Media: David
Rosen Argot Partners David.Rosen@argotpartners.com
212-600-1902
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