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DCPH - Deciphera Pharmaceuticals: Upsized Offering Indicates Heightened Demand For The Stock
Deciphera Pharmaceuticals Inc.
On Wednesday evening, Deciphera Pharmaceuticals, Inc. (DCPH) announced a $400 million capital raise consisting of 10,810,810 shares priced at $37.00 with an underwriter option for an additional $60 million worth of shares. This was double the initial proposed offering of $200 million. I believe that this is bullish for DCPH, at least in the short term. While this represents a 28% dilution, it also indicates high demand for the stock. The company will have an extremely long cash runway, reducing the risk that is inherent in any pre-revenue biotech that burns through a