Deciphera Pharmaceuticals Inc. raised $400 million through a previously announced underwritten public offering of common shares.
The Waltham, Mass.-based biopharmaceutical company sold 10,810,810 common shares at $37 apiece. The underwriters have a 30-day option to buy up to 1,621,621 additional common shares.
The net proceeds from the offering will be used to fund clinical trials for the company's cancer drugs; ripretinib, rebastinib and DCC-3014. Funds will also be used to develop experimental drugs, for research activities and working capital purposes.
J.P. Morgan, Piper Jaffray and Jefferies were the joint book-running managers for the offering. Guggenheim Securities was the lead manager for the offering, while SunTrust Robinson Humphrey was the co-manager for the offering.
