Despite Loss, 'Excitement' Builds For Endocyte Pipeline

Posted: Updated:
The company specializes in precision medicine and molecules. The company specializes in precision medicine and molecules.

West Lafayette-based Endocyte Inc. (Nasdaq: ECYT) has announced updates to its pipeline and released second quarter earnings. The company is reporting a net loss of $14 million, compared to a loss of $10.6 million during the same period in 2015. It attributes much of the widening loss to a $3.6 million separation agreement with co-founder and former President and Chief Executive Officer Ron Ellis, who left in June.

When Mike Sherman was named successor, Endocyte said Ellis would stay on as a consultant with the company he helped launch more than 20 years ago.

Sherman says "excitement is building" for two of its most promising potential therapies, called EC1456 and EC 1169. He says "data to date has demonstrated attractive safety profiles and signs of anti-tumor activity for both agents. Later this month, we will advance EC1456 into targeted patients with non-small cell lung cancer expressing the folate receptor, who are most likely to respond. We look forward to our first visibility into efficacy data for both compounds during the second half of the year."

The company says it spent slightly more on research and development in the most recent quarter than it did in Q2 of 2015. Endocyte also revised higher its expected cash guidance for the full-year, anticipating it will finish the year above $130 million, compared to previous guidance between $125 million and $150 million.

You can connect to more details of the company's earnings and progress on its pipeline by clicking here.

  • Perspectives

    • (photo courtesy of Conexus)

      Getting the Word Out About Manufacturing & Logistics

      As the epicenter of the nation’s advanced manufacturing and logistics industries, Indiana has a compelling story to tell about how Hoosier companies make and move the goods people depend on every day. Our goal is to ensure everyone hears these stories – many of which share a common theme focused on cutting-edge technologies that are transforming the way products are made and moved around the world and the people who use them. Conexus Indiana launched an...



  • Most Popular Stories

    • (photo courtesy of The Times of Northwest Indiana)

      Valpo Mansion May Fall to Wrecking Ball

      A one-time mansion that once hosted dignitaries and politicians while they visited Valparaiso appears to be facing demolition, following years of decline and disrepair.  The stately mansion, known locally as the Brown home, maybe knocked down and replaced with condominiums, according to our partners at The Times of Northwest Indiana. 

    • The Honda Greensburg plant opened in 2008.

      Honda to Invest $4M, Add Jobs at Greensburg Plant

      The American Honda Motor Co. continues to invest in its Greensburg, Indiana plant as it has announced the factory will be producing the company’s first electrified sport utility vehicle in the U.S. The company says it will invest more than $4 million and add 34 new jobs in the plant to support production of the CR-V Hybrid.  

    • Photo courtesy of Purdue University

      Purdue Offers 'Stranger Things' Replica Tee

      Purdue University has partnered with trademark licensing agent CLC to produce a special-edition replica Purdue shirt that appeared on an episode of Netflix’s “Stranger Things 3.”  The university also teamed up with Venley to accurately replicate the shirt, which will be available at retailers on the West Lafayette campus and online later this month.

    • Timothy Rushenberg

      Electric Co-Op Names VP

      The Indiana Electric Cooperatives has named Timothy Rushenberg vice president of government relations. He most recently served as vice president of the Indiana Energy Association. Rushenberg has also served with the Indiana Manufacturers Association and the Indiana Department of Local Government Finance.  

    • Alexa Deaton and Colby Shank

      Higher Ed Commission Promotes Two

      The Indiana Commission for Higher Education has promoted Alexa Deaton to associate commissioner and Chief Financial Officer. She previously served as director of accounting. Also, Colby Shank has been promoted to associate commissioner for student financial aid, a new position for the organization. He most recently served as assistant commissioner for financial and student support services.