Deciphera Pharmaceuticals, Inc. DCPH reported a second-quarter 2022 loss of 60 cents per share, narrower than the Zacks Consensus Estimate of a loss of 65 cents. In the year-ago quarter, the company had reported a loss of $1.21.Total net revenues were $32.5 million in the quarter, which surpassed the Zacks Consensus Estimate of $30 million. Revenues rose almost 38% year over year.Shares of Deciphera were up 23.9% on Thursday owing to the better-than-expected earnings results. The stock has skyrocketed 72% in the year against the industry’s decline of 19.7%.Image Source: Zacks Investment ResearchIn May 2020, the FDA approved Deciphera’s sole marketed drug, Qinlock (ripretinib), to treat adult patients with advanced gastrointestinal stromal tumors (“GIST”), who have received prior treatment with three or more kinase inhibitors, including Gleevec (imatinib).Quarter in DetailApart from Qinlock, there is no other marketable drug in the company’s portfolio. Total revenues comprised net product revenues and collaboration revenues. Net product revenues were $31.5 million, reflecting an increase of 43% year over year. Qinlock generated $23.7 million in sales in the United States and $7.8 million in sales in ex-U.S. markets.Collaboration revenues in the reported quarter were $1 million compared to $1.5 million recorded in the year-ago quarter.Research and development expenses were $44.9 million, down 25.2% year over year, owing to lower costs related to clinical studies on Qinlock.Selling, general and administrative expenses were $29.6 million, down 9.7% year over year, owing to lower professional and consultant fees.Deciphera had cash, cash equivalents and investments worth $393.1 million as of Jun 30, 2022 compared with $275.4 million as of Mar 31, 2022.Other UpdatesIn November 2021, the European Commission approved Qinlock for treating adult patients with advanced GIST who have received prior treatment with three or more kinase inhibitors, including Novartis’ Gleevec. The nod in Europe is already generating incremental sales and is expected to do the same in future quarters.Per the company, Germany’s Federal Joint Committee (G-BA) has issued a “major additional benefit” rating to Qinlock. The drug has now become the first orphan oncology treatment to receive this rating in Germany. It is also the only GIST treatment to win this recognition.Deciphera is evaluating vimseltinib in the phase III MOTION study for the treatment of patients with tenosynovial giant-cell tumors, who are not amenable to surgery.The company is also planning to initiate three phase Ib studies on DCC-3116 in combination with FDA-approved MEK inhibitor, trametinib, binimetinib as well as sotorasib, an FDA- approved KRASG12C inhibitor, for treating patients with advanced or metastatic solid tumors in the second half of 2022.Deciphera Pharmaceuticals, Inc. Price, Consensus and EPS Surprise Deciphera Pharmaceuticals, Inc. price-consensus-eps-surprise-chart | Deciphera Pharmaceuticals, Inc. QuoteZacks Rank & Other Stocks to ConsiderDeciphera currently carries a Zacks Rank #2 (Buy). Other stocks worth considering in the biotech sector include Beam Therapeutics Inc. BEAM, Atara Biotherapeutics, Inc. ATRA and Precision BioSciences, Inc. DTIL, all carrying a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Beam Therapeutics’ loss per share estimates narrowed 0.7% for 2022 and 0.8% for 2023 in the past 60 days.Earnings of Beam Therapeutics have surpassed estimates in three of the trailing four quarters and missed on the remaining occasion. BEAM delivered an earnings surprise of 1.80%, on average.Atara Biotherapeutics’ loss per share estimates narrowed 0.6% for 2022 and 13.3% for 2023 in the past 60 days.Earnings of Atara Biotherapeutics have surpassed estimates in two of the trailing four quarters and missed on the other two occasions. ATRA delivered an earnings surprise of -12.51%, on average.Precision BioSciences’ loss per share estimates narrowed 5.8% for 2022 and 16.2% for 2023 in the past 60 days.Earnings of Precision BioSciences have surpassed estimates in each of the trailing four quarters. DTIL delivered an earnings surprise of 76.15%, on average. Free: Top Stocks for the $30 Trillion Metaverse Boom The metaverse is a quantum leap for the internet as we currently know it - and it will make some investors rich. Just like the internet, the metaverse is expected to transform how we live, work and play. Zacks has put together a new special report to help readers like you target big profits. The Metaverse - What is it? And How to Profit with These 5 Pioneering Stocks reveals specific stocks set to skyrocket as this emerging technology develops and expands.Download Zacks’ Metaverse Report now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Beam Therapeutics Inc. (BEAM): Free Stock Analysis Report Atara Biotherapeutics, Inc. (ATRA): Free Stock Analysis Report Deciphera Pharmaceuticals, Inc. (DCPH): Free Stock Analysis Report Precision BioSciences, Inc. (DTIL): Free Stock Analysis Report To read this article on Zacks.com click here.