Deciphera Releases INTRIGUE Phase 3 Study Results

Deciphera Pharmaceuticals, Inc. (NASDAQ: DCPH) has released results from the INTRIGUE Phase 3 study of QINLOCK (ripretinib), designed to treat gastrointestinal stromal tumor (GIST).

Shares of the company gained 1.7% in Monday’s extended trading session to close at $8.61.

INTRIGUE is a phase III, randomized, open-label study to evaluate the efficacy and safety of ripretinib against sunitinib in patients with advanced GIST previously treated with imatinib. The study was conducted at 122 sites with 453 patients. About 226 patients were administered with ripretinib.

The study concluded that in patients who became intolerant to imatinib, the efficacy of QINLOCK and sunitinib were comparable. However, Deciphera informed that progression-free survival (PFS) of QINLOCK as determined by independent radiologic review using modified Response Evaluation Criteria in Solid Tumors (RECIST) did not meet the study’s primary endpoint of superiority compared to sunitinib.

Also, ripretinib was found to have a more favorable safety profile compared with sunitinib. Patients receiving ripretinib were less likely to experience Grade 3/4 TEAEs, including hypertension, palmar-plantar erythrodysesthesia, diarrhea, and stomatitis. Patients receiving ripretinib reported better tolerability than patients receiving sunitinib.

Wall Street’s Take

Recently, JMP Securities analyst Reni Benjamin maintained a Hold rating on Deciphera but did not assign any price target.

Benjamin noted, “While DCPH is expanding QINLOCK across multiple geographies (including select countries in Europe), has initiated a registrational study for vimseltinib, is moving DCC-3116 through clinical development, and has a cash balance of $350MM (proforma), we believe shares are likely to be range bound near term until new clinical data are announced later this year; thus, we see shares as fairly valued.”

Based on 2 Buys, 8 Holds and 1 Sell, the healthcare stock has a Hold consensus rating. The average Deciphera price target of $12.25 implies 44.6% upside potential from current levels. Shares have declined 81.6% over the past year.

Negative Sentiment

TipRanks’ Stock Investors tool shows that investors currently have a Very Negative stance on Deciphera with 6.3% of investors decreasing their exposure to DCPH stock over the past 30 days.

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