Deciphera Pharmaceuticals Inc

Latest Results (23.05.2024):

Q4 2022 Total Revenue

In the fourth quarter of 2022, Deciphera Pharmaceuticals Inc. reported a total revenue of $36.3 million. This figure includes $32.9 million from net product revenue of QINLOCK and $3.4 million from collaboration revenue. This represents an increase from the fourth quarter of 2021, where the total revenue was $24.2 million, including $23.7 million from QINLOCK net product revenue and $0.5 million from collaboration revenue.

Full Year 2022 Revenue

For the full year of 2022, Deciphera Pharmaceuticals Inc. achieved a total revenue of $134.0 million. This amount comprised $125.5 million from QINLOCK net product revenue and $8.5 million from collaboration revenue. In comparison, the total revenue for 2021 was $96.1 million, with $87.4 million from QINLOCK net product revenue and $8.8 million from collaboration revenue.

Cost of Sales and R&D Expenses

Deciphera Pharmaceuticals Inc. reported cost of sales of $3.2 million in the fourth quarter of 2022, which included $0.7 million in cost of product sales. This is slightly higher than the $0.5 million cost of product sales in the fourth quarter of 2021. Research and development expenses for the fourth quarter of 2022 were $48.1 million, a significant decrease from $74.9 million in the same period of 2021. The annual R&D expenses for 2022 were $187.8 million, down from $257.0 million in 2021.

QINLOCK Sales Performance

QINLOCK net product revenue for Deciphera Pharmaceuticals Inc. in the fourth quarter of 2022 was $32.9 million, marking a 39% increase from the $23.7 million recorded in the fourth quarter of 2021. The revenue included $25.6 million from the U.S. market and $7.3 million from international markets. This growth is attributed to increased adoption and expanded approvals in various countries.

Future Outlook and Developments

Deciphera Pharmaceuticals Inc. is poised for continued growth with plans to initiate the INSIGHT pivotal Phase 3 study of QINLOCK versus sunitinib in second-line GIST patients in the second half of 2023. Additionally, the company expects to complete enrollment in the MOTION pivotal Phase 3 study of vimseltinib in the first quarter of 2023, with top-line results anticipated in the fourth quarter of 2023. These developments are part of Deciphera's strategy to expand its portfolio and address significant unmet medical needs in oncology.