Need money? Why wait?

Developing drugs is a cash-intensive business, which is to say biotech companies pretty much always need money. For publicly traded companies, the easiest way to raise cash is by selling shares, and the best time to do that is when those shares are particularly valuable. That’s why it’s pretty common to see good news — a positive clinical trial, usually — followed within a few days by an announcement of a fundraise.

But why wait so long? Yesterday, at 7 a.m. ET, Deciphera Pharmaceuticals told the world that its investigational drug made a difference for patients with stomach cancer, news that nearly doubled the stock price. Exactly nine hours and one minute later, the company put out a press release to say it was raising $200 million in a stock price.

That beats Allakos, which last week waited nine hours and 29 minutes between good news and cashout. And it easily tops the old standard of letting at least 24 hours elapse before raising money. However it does leave room for some real innovation: announcing the good news and the stock offering in the same press release.