Endocyte Loss Narrows, Reports Development Progress

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

West Lafayette-based Endocyte Inc. (Nasdaq: ECYT) is reporting a second quarter net loss of $11.7 million, compared to a net loss of $14 million a year ago. Despite the loss, Chief Executive Officer Mike Sherman says he is optimistic about progress being made on three development programs.

Sherman says the biopharmaceutical company's research and development partnership announced in March with Seattle Children's Research Institute is exceeding expectations, leading to expectations that Endocyte's chimeric antigen receptor T-cell therapy will enter the manufacturing process by the end of the year. He adds an Investigational New Drug Application has been filed for the company's EC2629 agent, which it says is the first of its kind that "simultaneously targets cancer cells and the tumor associated macrophages that support and protect them." Enrollment of taxane-exposed prostate cancer patients in another important trial is also expected to be complete this fall.

Sherman added in Endocyte's earnings report:

We believe our pipeline has significant potential to create value and we are committed to effective, timely execution in bringing these assets forward through clinical development and identifying paths to accelerate value-driving catalysts. With this in mind, our strategy is to select receptor-positive patients in highly-targeted indications from the beginning of development, including during dose escalation. We will also continue to objectively measure our pipeline investments relative to opportunities to outlicense assets or access external opportunities to ensure we are deploying capital productively.

You can connect to more about the company's Q2 earnings report by clicking here.

In June, Endocyte announced a restructuring that included a 40 percent reduction in its work force.

  • Perspectives

    • Focused Collaboration Leads to Effective STEM Leadership

      As a woman who has built a career in a STEM field, technology, I have come to realize that collaboration is an essential ingredient for organizational growth and survival. As my year serving as president for Women & Hi Tech comes to an end, one of the most impactful takeaways for me has been how a shared vision and strategic partnerships can help change the landscape for women studying science, technology, engineering or math in Indiana.

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • JPMorgan Chase Appoints Middle Market Manager

      JPMorgan Chase has promoted Christina Moungey to Indiana region manager for middle market banking, part of the firm’s commercial banking business. In her new role, she will be leading a team of bankers to serve local midsize companies on their banking and financial needs, including cash management, credit and financing and international banking. Moungey succeeds Bob McElwain, who recently was named head of the national agriculture sector for commercial banking.

    • Bond Yield Curve: Indicating Recession?

      The bond market's yield curve is sending us warning signals of an impending recession. What exactly is the yield curve? Is it really an indicator of the health of our economy? Should you care what shape it's in - steep, flat, or inverted? Yes, investors should pay attention! Let's start with the basics...

    • Caesars now owns Indiana Grand in Shelbyville and Hoosier Park in Anderson.

      Acquisition of Indiana Racinos Complete

      Las Vegas-based Caesars Entertainment Corp. (Nasdaq: CZR) has completed its $1.7 billion acquisition of Centaur Holdings LLC in Indianapolis. The deal adds Hoosier Park Racing and Casino in Anderson and Indiana Grand Racing and Casino in Shelbyville to Caesars' portfolio. The company says it will invest $50 million into various property improvements and IT upgrades at both facilities. Caesars says it plans to add table games to both properties, pending necessary approvals.

    • Holcomb says he hopes the state can serve as an example of "fair chance" hiring.

      Holcomb Names Board, Commission Appointees

      Multiple statewide boards and commissions will have new or reappointed members. Governor Eric Holcomb has announced appointments to the Indiana Law Enforcement Training Board, Indiana Uniform Law Commission and Ports Commission. They include...

    • Daredevil Brewing Co. was named Grand Champion Brewery of the Year. (photo courtesy Indiana State Fair)

      Indiana Brewers' Cup Winners Announced

      The Indiana State Fair has unveiled the winners of its 20th annual Indiana Brewers' Cup. The competition is split between professional brewers and home brewers, and presents medals for beers in a variety of categories.