Why Deciphera Pharmaceuticals Shot 12% Higher Today

On a bad day for the stock market overall, Deciphera Pharmaceuticals (NASDAQ: DCPH) was quite the happy standout. Shares of the biotech closed more than 12% higher on Tuesday thanks to the launch of a new company initiative.

Deciphera is in restructuring mode, with the aim being "to prioritize clinical development of select programs, streamline commercial operations, maintain a focus on discovery research, and extend the company's cash runway," as it wrote in a statement.

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Source Fool.com