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Stock impact report

Endocyte in-licenses late-stage prostate cancer candidate from ABX GmbH; shares ahead 11% premarket [Seeking Alpha]

ENDOCYTE (ECYT) 
Last endocyte earnings: 11/7 04:01 pm Check Earnings Report
US:NASDAQ Investor Relations: investor.endocyte.com/investor-relations
Company Research Source: Seeking Alpha
Endocyte in-licenses late-stage prostate cancer candidate from ABX GmbH; shares ahead 11% premarketThinly traded nano cap Endocyte (NASDAQ:ECYT) is up11% premarket on robust volume in response to itsannouncement that it has secured a global exclusive license to PSMA-617 from ABX GmbH. It intends to quickly launch Phase 3 development of radioligand therapeutic Lu-PSMA-617 for the treatment of patients with metastatic castration-resistant prostate cancer.Under the terms of the deal, Endocyte paid $12M upfront and issued 2M shares of common stock to ABX along with a warrant to purchase up to 4M additional shares. ABX is eligible for up to $160M in milestones plus royalties on net sales starting in the mid-teens.Lu-PSMA-617 selectively delivers short-range beta-emitting radioactive isotope lutetium to tumor cells that express prostate-specific membrane antigen (PSMA).Now read:Endocyte (ECYT) Presents At Cantor Fitzgerald Global Healthcare Conference - Slideshow » Show less Read more
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