WALTHAM, Mass., Oct. 03, 2017 (GLOBE NEWSWIRE) -- Deciphera Pharmaceuticals, Inc. (NASDAQ:DCPH), a clinical-stage biopharmaceutical company focused on addressing key mechanisms of tumor drug resistance, announced the closing of its initial public offering of 7,500,000 shares of its common stock at a public offering price of $17.00 per share. The gross proceeds from the initial public offering to Deciphera were approximately $127,500,000, before underwriting discounts and estimated offering expenses.
The underwriters also exercised their option to purchase 666,496 additional shares of common stock at the public offering price of $17.00 per share, bringing total gross proceeds from the offering to approximately $138,830,432, before underwriting discounts and estimated offering expenses. Such purchase of additional shares is expected to close on October 4, 2017, subject to customary closing conditions.
J.P. Morgan and Piper Jaffray & Co. acted as joint book-running managers for the offering. JMP Securities LLC acted as lead manager and Nomura Securities International, Inc. acted as a co-manager for the offering.
This press release shall not constitute an offer to sell or a 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 the registration or qualification under the securities laws of any such state or jurisdiction.
Deciphera 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.