Deciphera Raises $150M Via Equity Offering

  • Deciphera Pharmaceuticals Inc DCPH has priced an underwritten public offering of 5.25 million shares at $10.00 per share, for gross proceeds of $150 million.
  • The offer price represents a discount of 3.5% from the last close price of $10.36 on Tuesday.
  • In addition, Deciphera is offering pre-funded warrants to purchase 9.75 million common shares at $9.99 per pre-funded warrant.
  • Underwriters have an option to purchase up to an additional 2.25 million shares.
  • Related: Deciphera's DCC-3116/KRAS Inhibitor Combo Shows Deeper, Longer Tumor Regressions In Preclinical Studies.
  • The offering is expected to close on April 29.
  • Deciphera will use the net proceeds to continue funding the development of vimseltinib, DCC-3116, the pan-RAF program and other new research activities, and the remainder for working capital purposes.
  • Price Action: DCPH shares traded 3.47% lower at $10.00 during pre-market trading on Wednesday.
Market News and Data brought to you by Benzinga APIs
Posted In: BiotechNewsHealth CareFinancingOfferingsSmall CapMoversTrading IdeasGeneralBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!