DCPH - Deciphera undertakes restructuring: to reduce workforce discontinue rebastinib program

Deciphera Pharmaceuticals (DCPH +7.9%) is undertaking a corporate restructuring and reducing its workforce by ~35%, to prioritize clinical development of select programs, streamline commercial operations and extend its cash runway. The company will focus its resources on the continued advancement of vimseltinib and DCC-3116, while discontinuing the rebastinib program for ovarian cancer. Deciphera (NASDAQ:DCPH) will streamline commercial operations for QINLOCK in the U.S. and focus commercialization efforts on a select number of key European markets. The company said the changes are expected to result in a significant reduction in operating expenses and extend its cash runway into 2024. The restructuring that will result in a workforce reduction of ~35%, or about 140 positions, and is expected to affect U.S. employees across all areas of the organization including the QINLOCK commercial team, research and development, and general and administrative support functions. The company expects to recognize a one-time cash charge in Q4 of ~$32M associated

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Deciphera undertakes restructuring: to reduce workforce, discontinue rebastinib program