Endocyte (ECYT) Tops Q1 EPS by 1c

Endocyte (NASDAQ: ECYT) reported Q1 EPS of ($0.24), $0.01 better than the analyst estimate of ($0.25).

“We continue to be pleased with the progress of our two lead, clinical-stage assets, EC1456 and EC1169, in Phase 1 dose escalation studies. Both drugs are very well-tolerated and show evidence of anti-tumor activity. Maximum tolerated dose has not yet been reached with either drug,” said Ron Ellis, Endocyte’s president and chief executive officer. “We look forward to providing more detailed updates on both of these dose escalation trials at the American Society of Clinical Oncology (ASCO) annual meeting in June.”

Upcoming Expected Milestones

• Phase 1 dose escalation updates on EC1456 and EC1169 at ASCO annual meeting in June 2016
• EC1456 single agent efficacy data (tumor response) in non-small cell lung cancer before year-end 2016
• EC1169 single agent efficacy data in prostate cancer in late 2016 or 2017
• Updates on plans for earlier stage programs

Cash, cash equivalents and investments were $163.3 million at March 31, 2016, compared to $196.8 million at March 31, 2015, and $173.6 million at December 31, 2015.

The Company reiterated guidance that it expects its cash balance at the end of 2016 to be between $125 and $130 million.

For earnings history and earnings-related data on Endocyte (ECYT) click here.

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