West Lafayette, IN-based Endocyte, Inc (NASDAQ:ECYT) is a development-stage biopharmaceutical company, focused on bringing targeted therapies for the treatment of cancer and inflammatory diseases to market. The company uses its proprietary technology to create small-molecule drug conjugates (SMDCs) and companion imaging agents for the SMDCs to identify patients whose disease over-expresses the target of the therapy, and are thereby likely to benefit from treatment.
Major research and development (R&D) projects at Endocyte include vintafolide (non-small cell lung cancer (NSCLC)), EC1456 (advanced solid tumors) and EC1169 (advanced prostate cancer).
Endocyte has a mixed track record of earnings surprises. The company has beaten estimates in two of the last four quarters, with a positive average earnings surprise of 5.52%.
Currently, Endocyte has a Zacks Rank #3 (Hold), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Loss Narrower-than-Expected: Endocyte reported a loss per share of 27 cents per share while our consensus called for a loss of 28 cents per share.
Revenue: The company earned collaboration revenue of $0.012 million, flat year over year.
Key Stats: Research and development expenses were $6.5 million for the first quarter of 2017, down 18.3% year over year. General and administrative expenses were $3.8 million, up 2% year over year.
Share Price Impact: Shares were in-activet in pre market trading.
Check back later for our full write up on this ECYT earnings report later!
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Endocyte, Inc. (ECYT): Free Stock Analysis Report
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