DCPH - Why Shares of Deciphera Pharmaceuticals Rose This Week
2023-08-11 15:30:19 ET
Shares of Deciphera Pharmaceuticals (NASDAQ: DCPH) were up more than 17% for the week as of Friday at 2 p.m. ET, according to data provided by S&P Global Market Intelligence . The biotech company's stock closed last week at $13.08, then rose to a high of $16.43 on Friday. The stock is still down more than 7% so far this year.
The company, which focuses on therapies to treat various cancers, reported second-quarter earnings on Wednesday before the markets opened. Its sole marketed therapy, Qinlock (ripretinib), led a surge in growth in revenue and earnings per share (EPS).
Deciphera reported revenue of $38.3 million, up 17.4% year over year. All but $1 million of the revenue came from sales of gastrointestinal stromal tumor (GIST) therapy Qinlock.
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Why Shares of Deciphera Pharmaceuticals Rose This Week