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Why Deciphera Pharmaceuticals, Inc. (DCPH) stock is gloomy today?

Deciphera Pharmaceuticals, Inc. (DCPH) stock saw a huge decline following the announcement of topline results from the INTRIGUE phase 3 clinical study. DCPH stock price saw a downtrend of 74.11% to drop at $9.32 a share at the time of this writing. The stock was also gloomy in the previous trade and went down by 3.04% at closing. Let’s dig in to understand more about this stock.

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What’s Happening?

DCPH stock today announced the topline results of the QINLOCK from the INTRIGUE phase 3 clinical study. QINLOCK is intended for patients suffering from gastrointestinal stromal tumor (GIST). These patients were previously getting the treatment with imatinib. The primary endpoint of the study was progression-free survival compared with standard of care sunitinib which the study did not meet according to the results.

The purpose of the INTRIGUE Phase 3 clinical study was to evaluate the efficacy as well as safety of QINLOCK compared with sunitinib in patients suffering from GIST. 453 patients enrolled in the study were treated with QINLOCK 150 mg once daily or sunitinib 50 mg for 1 month.

Financial View of DCPH stock:

DCPH stock on November 3, 2021, did announce third-quarter 2021 financial results according to which

  • Deciphera stock generated $23.2 million in revenue in the third quarter of 2021 as compared to $15.5 million in the same quarter of last year. INLOCK sales revenue was $21.7 million in the recently reported quarter.
  • DCPH stock reported $0.9 million of cost of sales in the third quarter of 2021 compared to $0.1 million in the same tenure of the previous year.
  • The company spent $66.4 million in research and development expenses and $35.5 million in selling, general and administrative expenses in the third quarter of 2021. This compares to $49.2 million in R&D Expenses and $30.1 million in SG&A Expenses in the same tenure of the previous year.
  • DCPH stock suffered a net loss of 79.8 million or $1.37 per share in the recently reported quarter. The net loss in the same period of the previous year was $63.7 million, or $1.13 per share.
  • By the end of the third quarter of 2021, DCPH stock had $392.2 million in cash, cash equivalents, and marketable securities. This amount was $451.0 million by the end of the second quarter of 2021.

Wrap Up:

The disappointing topline results from the INTRIGUE phase 3 clinical study resulted in a significant decline in the per-share price of the DCPH stock. Deciphera stock’s financial results reflect improvement in the quarterly revenue however the recent negative results of the study might affect the overall progress of the stock.

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