Endocyte (ECYT) Posts Wider Than Expected Loss In Q4

Endocyte, Inc. (NASDAQ:ECYT) is a West Lafayette, IN-based development-stage biopharmaceutical company focused on bringing targeted therapies for the treatment of cancer and inflammatory diseases to market.

In October 2017, the company acquired exclusive worldwide rights to develop and commercialize PSMA-617 including the product candidate known as 177Lu-PSMA-617 from ABX GmbH. 177Lu-PSMA-617 is a first-in-class radioligand and therapeutic (RLT) that targets prostate-specific membrane antigen (PSMA). The candidate represents a more than $1 billion market opportunity and its development is now the main priority of the company. Currently, the company plans to focus on its most promising programs - lutetium PSMA-617 radioligand therapy and prostate cancer, and CAR T-cell small-molecule drug conjugates (SMDC) adaptor platform.

Endocyte’s earnings track record has been mixed so far. Over the four trailing quarters, the company has posted an average positive earnings surprise of 0.47%.

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:

Earnings: Endocyte’s fourth-quarter 2017 loss was wider-than-expected. The company posted a loss of 18 cents per share wider than consensus estimate of a loss of 16 cents.

Key Stats: The company finalized a phase III VISION trial design for¹⁷⁷Lu-PSMA-617 following a successful End of Phase II meeting with the FDA. The trial will include two interim assessments of efficacy, which could potentially lead to an early approval for ¹⁷⁷Lu-PSMA-617.

Share Price Impact: The shares were up almost 2.8% in pre-market trading.

Check back later for our full write up on ECYT earnings report later!

Endocyte, Inc. Price and EPS Surprise

Endocyte, Inc. Price and EPS Surprise | Endocyte, Inc. Quote

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