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Deciphera (DCPH) Rises 70% in the Past 6 Months: Here's Why
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Shares of Deciphera Pharmaceuticals, Inc. have rallied 70.2% in the past six months compared with the industry’s rise of 0.4%.
The company’s sole marketed drug, Qinlock (ripretinib) is approved for the treatment of adult patients with advanced gastrointestinal stromal tumor (“GIST”) who have received prior treatment with three or more kinase inhibitors, including Novartis’ (NVS - Free Report) Gleevec (imatinib).
NVS lost patent protection for Gleevec, which faces increasing generic competition in major markets.
Qinlock has also been approved in Europe for treating fourth-line GIST, which is already generating incremental sales for the company.
DCPH has made steady progress with Qinlock during this time, with the drug witnessing solid uptake so far. Qinlock contributes the majority of Deciphera’s revenues.
Image Source: Zacks Investment Research
The initial uptake of Qinlock has been strong since its approval in May 2020. In the first nine months of 2022, Qinlock generated sales worth $92.6 million, reflecting an increase of 45.6% year over year.
DCPH is also working to expand the label of Qinlock for the larger commercial opportunity in GIST. A potential label expansion for other indications will make the drug eligible to treat a broader patient population and drive sales further in the days ahead.
Earlier this month, DCPH announced an outlook and planned corporate milestones for 2023.
Per the outlook for 2023, the company plans to initiate the pivotal phase III INSIGHT study evaluating its sole marketed drug, Qinlock (ripretinib) compared with sunitinib for treating patients with GIST who were previously treated with Novartis’ Gleevec (imatinib) in the second half of 2023.
This apart, Deciphera has a diverse pipeline and is advancing multiple drug candidates in various stages of clinical development.
The company is evaluating its pipeline candidate vimseltinib in the phase III MOTION study to treat patients with tenosynovial giant-cell tumors, who are not amenable to surgery. Enrollment in the study is expected to be completed in the first half of 2023, with top-line data from the same expected in the fourth quarter of 2023.
DCPH plans to evaluate DCC-3116 in combination with Pfizer’s (PFE - Free Report) Braftovi (encorafenib) and Eli Lilly’s Erbitux (cetuximab) for treating patients with colorectal cancer in the second half of 2023.
Deciphera entered a clinical trial collaboration and supply agreement with Pfizer for Braftovi.
Per the above agreement, Deciphera will sponsor the study, whereas PFE will supply Braftovi free of cost.
Deciphera currently has no approved product in its portfolio other than Qinlock. All of its candidates, including vimseltinib and DCC-3116, are still some time away from commercialization. As a result, the company is heavily dependent on Qinlock for growth. Any regulatory setbacks for the drug will hurt the company’s prospects.
Qinlock also faces competition from Blueprint Medicines’ (BPMC - Free Report) Ayvakit, which is approved for the treatment of unresectable or metastatic GIST, harboring a PDGFRA exon 18 mutation, including PDGFRA D842V mutations in adults.
Blueprint Medicines’ lead-marketed drug Ayvakit holds great potential. BPMC is also studying the drug in various label expansion studies for additional indications.
Image: Shutterstock
Deciphera (DCPH) Rises 70% in the Past 6 Months: Here's Why
Shares of Deciphera Pharmaceuticals, Inc. have rallied 70.2% in the past six months compared with the industry’s rise of 0.4%.
The company’s sole marketed drug, Qinlock (ripretinib) is approved for the treatment of adult patients with advanced gastrointestinal stromal tumor (“GIST”) who have received prior treatment with three or more kinase inhibitors, including Novartis’ (NVS - Free Report) Gleevec (imatinib).
NVS lost patent protection for Gleevec, which faces increasing generic competition in major markets.
Qinlock has also been approved in Europe for treating fourth-line GIST, which is already generating incremental sales for the company.
DCPH has made steady progress with Qinlock during this time, with the drug witnessing solid uptake so far. Qinlock contributes the majority of Deciphera’s revenues.
Image Source: Zacks Investment Research
The initial uptake of Qinlock has been strong since its approval in May 2020. In the first nine months of 2022, Qinlock generated sales worth $92.6 million, reflecting an increase of 45.6% year over year.
DCPH is also working to expand the label of Qinlock for the larger commercial opportunity in GIST. A potential label expansion for other indications will make the drug eligible to treat a broader patient population and drive sales further in the days ahead.
Earlier this month, DCPH announced an outlook and planned corporate milestones for 2023.
Per the outlook for 2023, the company plans to initiate the pivotal phase III INSIGHT study evaluating its sole marketed drug, Qinlock (ripretinib) compared with sunitinib for treating patients with GIST who were previously treated with Novartis’ Gleevec (imatinib) in the second half of 2023.
This apart, Deciphera has a diverse pipeline and is advancing multiple drug candidates in various stages of clinical development.
The company is evaluating its pipeline candidate vimseltinib in the phase III MOTION study to treat patients with tenosynovial giant-cell tumors, who are not amenable to surgery. Enrollment in the study is expected to be completed in the first half of 2023, with top-line data from the same expected in the fourth quarter of 2023.
DCPH plans to evaluate DCC-3116 in combination with Pfizer’s (PFE - Free Report) Braftovi (encorafenib) and Eli Lilly’s Erbitux (cetuximab) for treating patients with colorectal cancer in the second half of 2023.
Deciphera entered a clinical trial collaboration and supply agreement with Pfizer for Braftovi.
Per the above agreement, Deciphera will sponsor the study, whereas PFE will supply Braftovi free of cost.
Deciphera currently has no approved product in its portfolio other than Qinlock. All of its candidates, including vimseltinib and DCC-3116, are still some time away from commercialization. As a result, the company is heavily dependent on Qinlock for growth. Any regulatory setbacks for the drug will hurt the company’s prospects.
Qinlock also faces competition from Blueprint Medicines’ (BPMC - Free Report) Ayvakit, which is approved for the treatment of unresectable or metastatic GIST, harboring a PDGFRA exon 18 mutation, including PDGFRA D842V mutations in adults.
Blueprint Medicines’ lead-marketed drug Ayvakit holds great potential. BPMC is also studying the drug in various label expansion studies for additional indications.
Zacks Rank
Deciphera currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.