Deciphera Earns Price Target Bump With Encouraging ESMO Presentation - Deciphera Pharmaceuticals (NASDAQ:DCPH)

Deciphera Pharmaceuticals Inc DCPH announced positive initial data from the single agent dose escalation portion of the Phase 1 study of DCC-3116 in advanced or metastatic tumors with a mutant RAS or RAF gene.
Fourteen patients were evaluable for response; the best overall response was stable disease and the disease control rate at week 16 was 29%.
HC Wainwright believes the data sets up the potential for future positive data in combination with multiple small molecule targeted therapies.
The analyst reiterates the Buy rating and increases the price target to $25 from $20.
"While no CRs or PRs were reported in the study which enrolled colorectal pancreas and other cancer types (with most patients harboring KRAS mutations (83%) over BRAF mutation (17%), we note to investors that this should not be a deterrent to the mechanism, given that ULK signaling in down stream of from the MAPK pathway and PI3K pathway," the analyst writes.
During the ESMO data presentation, Deciphera's KOL was confident of the overall safety profile and noted that the Grade 3 ALT TEAEs, which led to dose interruption and reduction, were reversible and asymptomatic.
The company also shared updated results from the ongoing Phase 1/2 study of vimseltinib for tenosynovial giant cell tumor (TGCT) not amenable to surgery.
Data exhibited an objective response rate of 69% in Phase 1, 53% in Phase 2 Cohort A, and 46% in Phase 2 Cohort B.
The data demonstrated a clinical benefit rate of 100% across all Phase 1/2 patients.
Price Action: DCPH shares are up 10.79% at $20.03 on the last check Monday.

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