Here's Why Deciphera Pharmaceuticals Rose as Much as 115% Today

Shares of Deciphera Pharmaceuticals (NASDAQ: DCPH) erupted for gains of over 115% today after the clinical-stage pharma reported promising results for its lead drug candidate. In a phase 3 trial evaluating the potential to treat advanced gastrointestinal stromal tumors (GIST), patients taking ripretinib achieved an average progression-free survival (PFS) of 6.3 months. Those taking placebo reported an average PFS of one month. The risk of disease progression or death was reduced by 85% in patients receiving the drug candidate.

Deciphera Pharmaceuticals also reported updated results from a phase 1 study evaluating the potential of ripretinib to treat second-line and above GIST. (The phase 3 results were for advanced, or fourth-line and fourth-line plus, GIST.) The drug candidate performed even better in less severe cases of GIST, resulting in a PFS of 9.7 months in patients with second-line GIST.

As of 1:18 p.m. EDT, the stock had settled to a 80.4% gain.

Source Fool.com