DCPH - Why Deciphera Pharmaceuticals Stock Jumped This Week
2023-03-16 17:25:25 ET
Shares of Deciphera Pharmaceuticals (NASDAQ: DCPH) had risen 13.4% for the week as of late Thursday afternoon, according to data provided by S&P Global Market Intelligence . The company, which focuses on oncology therapies, announced that the Food and Drug Administration (FDA) had given Deciphera's Qinlock a Breakthrough Therapy designation to treat second-line gastrointestinal stromal tumors (GIST) in patients with certain genetic mutations.
Qinlock was approved initially in 2020 to treat adults with advanced GIST who have received prior treatment with three or more kinase inhibitors. The company also announced that the drug is now listed in the National Comprehensive Cancer Network's guidelines as a preferred regimen for second-line GIST patients intolerant to sunitinib.
Deciphera said it plans to begin, in the second half of this year, an Insight phase 3 study of Qinlock in comparison to sunitinib in second-line GIST patients with certain genetic mutations. It's important to note that in another phase 3 study with patients previously treated with imatinib, Qinlock did not stand out against sunitinib.
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Why Deciphera Pharmaceuticals Stock Jumped This Week