[Updated, 11:04 am ET, see below] Deciphera Pharmaceuticals this morning announced plans to seek FDA approval of a cancer medicine that treats a deadly type of tumor that forms in the gastrointestinal tract.

The Deciphera (NASDASQ: DCPH) drug, ripretinib, hit its main goal in a Phase 3 trial, INVICTUS, in 129 patients with gastrointestinal stromal tumors (GIST) who have failed at least three treatments. Ripretinib kept tumors from spreading—what’s known as progression-free survival—for a median of 6.3 months (27.6 weeks), compared to a median of 1 month (4.1 weeks) for placebo patients. GIST patients on Deciphera’s drug were… Read more »