Key Developments: Endocyte Inc (ECYT.O)
14.02USD
24 May 2013
$0.00 (+0.00%)
$14.02
$13.97
$14.15
$13.80
137,604
293,923
$15.36
$6.17
Latest Key Developments (Source: Significant Developments)
Merck & Co Inc And Endocyte Inc. Announces Worldwide Agreement To Develop And Commercialize Phase III Cancer Candidate Vintafolide
Merck & Co Inc and Endocyte Inc.announced that they have entered into an agreement to develop and commercialize Endocyte's investigational therapeutic candidate vintafolide (EC145). Under the agreement, Merck, through a subsidiary, will gain worldwide rights to develop and commercialize vintafolide. Endocyte will receive a $120 million upfront payment and is eligible for payments of up to $880 million based on the achievement of development, regulatory and commercialization goals for vintafolide for a total of six cancer indications. In addition, if vintafolide receives regulatory approval, Endocyte will receive an equal share of the profit in the United States (U.S.) as well as a double digit percentage royalty on sales of the product in the rest of the world. Endocyte has retained the right to co-promote vintafolide with Merck in the U.S. and Merck has the exclusive right to promote vintafolide in the rest of world. Endocyte will be responsible for the majority of funding and completion of the PROCEED trial. Merck will be responsible for all other development activities and costs and have all decision rights for vintafolide. Endocyte remains responsible for the development, manufacture and commercialization worldwide of etarfolatide, a non-invasive companion diagnostic imaging agent that is used to identify folate receptor positive tumor cells. Full Article
Endocyte Inc Announces Closing Of Upsized Public Offering And Exercise Of Over-Allotment Option
Endocyte Inc announced the closing of the underwritten public offering of 6,681,420 shares of its common stock at $12.26 per share. Of the total shares in the offering, 5,839,810 shares were sold by Endocyte, which includes the exercise in full by the underwriters of their option to purchase up to 871,489 additional shares at the public offering price, less underwriting discounts and commissions, and the remaining 841,610 shares were sold by an existing institutional shareholder. Endocyte expects to receive net proceeds of approximately $66.8 million from the offering after deducting underwriting discounts and commissions and other offering expenses. RBC Capital Markets, LLC and Leerink Swann LLC acted as joint book-running managers, and Cowen and Company, LLC and Wedbush PacGrow Life Sciences acted as co-managers for the offering. Full Article
Endocyte Inc Announces Pricing of Upsized Public Offering
Endocyte Inc announced the pricing of the underwritten public offering of 5,809,931 shares of its common stock at a price to the public of $12.26 per share. 4,968,321 of these shares are being offered by Endocyte and 841,610 of these shares are being offered by an existing institutional shareholder. The offering was increased from the previously announced amount of 4,841,610 shares. Endocyte has granted the underwriters a 30-day option to purchase up to 871,489 additional shares to cover over-allotments, if any. RBC Capital Markets, LLC and Leerink Swann LLC are acting as joint book-running managers, with Cowen and Company Full Article
Endocyte, Inc.'s EC145 Meets Primary Endpoint in Phase 2 Study, Demonstrating 85% Improvement In Median Progression-Free Survival For Treatment Of Platinum Resistant Ovarian Cancer
Endocyte, Inc. announced that the Phase 2 PRECEDENT trial, investigating the Company's lead drug candidate, EC145, in combination with pegylated liposomal doxorubicin (PLD) in patients with platinum-resistant ovarian cancer, met its primary endpoint by showing an 85%, 2.3 month, improvement in median progression-free survival (PFS) in the intent-to-treat population and a 260%, 4.0 month, improvement in a subset of folate receptor positive patients. EC145 in combination with PLD showed limited additional toxicity compared to standard therapy with PLD alone. The most commonly occurring adverse events were neutropenia, small intestine obstruction, and palmar-plantar erythrodysesthesia. EC145 is a therapeutic that targets the folate receptor and EC20 is a companion imaging diagnostic used to assess folate receptor presence. The Phase 2 PRECEDENT trial was an international, multi-center, randomized study of 149 women with platinum-resistant ovarian cancer. Patients were randomized to receive EC145 plus PLD or PLD alone at a standard dose until disease progression or death. The primary endpoint of the study was progression-free survival. Secondary endpoints included response rate and overall survival. Full Article
Earnings vs. 
Estimates
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.
