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Fly News Breaks for November 15, 2018
BPMC, DCPH
Nov 15, 2018 | 10:32 EDT
Piper Jaffray analyst Christopher Raymond keeps an Overweight rating on Deciphera Pharmaceuticals (DCPH) following the presentation of gastrointestinal tumors data from Blueprint Medicines' avapritinib at the Connective Tissue Oncology Society meeting. While avapritinib second-line data looks comparable to Deciphera's DCC-2618, this included patients dosed at higher levels than what is going forward commercially and into registration trials, Raymond tells investors in a research note. In later lines avapritinib's overall response rate was higher than DCC-2618 but other measures are almost indistinguishable, says the analyst. Raymond views the efficacy data as "relatively comparable" between the two agents but says Deciphera's DCC-2618 has a "far better safety profile." As such, he continues to see the company as well positioned in gastrointestinal tumors. Deciphera is up 11% to $22.94 in morning trading while Blueprint is down 6% to $52.70.
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