FDA Approval Could Be a Game-Changer for Deciphera Pharmaceuticals

Jim Halley, The Motley Fool
FDA Approval Could Be a Game-Changer for Deciphera Pharmaceuticals

Deciphera Pharmaceuticals (NASDAQ: DCPH), a biopharmaceutical company based in Waltham, Mass., received a double shot of good news last week ... and has been climbing ever since. As of midday Friday, the biopharma's stock is now nearly $8 higher than it was at the end of the previous week -- about a 15% jump, thanks to good news from the U.S. Food and Drug Administration (FDA) regarding its drug ripretinib, marketed under the name Qinlock. First, the FDA approved Qinlock as the first fourth-line treatment for gastrointestinal stromal tumors (GISTs) and gave it Fast Track, Breakthrough Therapy, and Orphan Drug status.