Deciphera Pharmaceuticals (NASDAQ:DCPH) Reaches New 12-Month High at $17.73

Deciphera Pharmaceuticals (NASDAQ: DCPH) has recently reached a new 12-month high of $17.73 per share. This represents an increase of approximately 45% from its previous 12-month low of $12.68, which was recorded on October 19, 2020.

Deciphera Pharmaceuticals is a biopharmaceutical company that focuses on the development and commercialization of novel therapies for rare genetic diseases. The company's lead product, Cabalegib, is an oral tyrosine kinase inhibitor that has been approved by the US Food and Drug Administration (FDA) for the treatment of patients with exon 51-positive gastrointestinal stromal tumors (GIST).

In addition to Cabalegib, Deciphera Pharmaceuticals is also developing other potential therapies for rare genetic diseases, including a novel therapy for patients with DFNA5T2-associated hearing loss and a potential treatment for patients with von Willebrand disease.

The company's strong financial performance has contributed to its recent stock price increase. In the third quarter of 2021, Deciphera Pharmaceuticals reported net sales of $3.4 million, representing an increase of approximately 50% from the same period in the previous year. The company also reported a net loss of $6.7 million for the third quarter of 2021, which was lower than the net loss of $9.8 million recorded in the same period in the previous year.

Overall, Deciphera Pharmaceuticals' recent stock price increase reflects the company's strong financial performance and its ongoing efforts to develop and commercialize novel therapies for rare genetic diseases.