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Endocyte, Inc. (ECYT) Message Board

  • immunocell immunocell Apr 30, 2012 12:34 PM Flag

    here is the deal

    Merck will pay for all the EC145 development expenses in 6 cancers except for the current PROCEED trial, milestones of these development will result in payment to ECYT of up to $880 million, plus $120 million upfront, equal share of the profit in the United States as well as a double digit percentage royalty on sales of the product in the rest of the world, can't think of a better deal than this.

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    • $120M at the phase II level is impressive for small biotechs.

      $120M after the December ovarian OS details tells me Merck got to see inside data that it's experts were impressed with.

      Future option to keep 50% of US profits after a BILLION in milestone payments tells me Endocyte is sitting on some impressive data the market is clueless about.

      • 1 Reply to cash2go
      • My wild guess, Merck is focused on the single agent F++ trial for NSCLC. The F++ patients are considered to have the worse prognosis in NSCLC patients. The F++ patients are the ones showing the best results with single agent -145 trials. Having a biomarker to identify patients most likely to respond is a huge advantage in designing a trial. No to mention the quality of life with mild side effects and a longer expected lifespan is the holy grail short of a cure.

        GLTA, If she gets much cheaper I'm going to have to make this one of my major holdings. A large insider or institutional buy would likley kick this one back to the $10 plus range?

    • That is good deal, I think MM are waiting for the details on the payments. Hopefully we see some details in the next two weeks.

      "Milestones of these development will result in payment to ECYT of up to $880 million"

      • 1 Reply to naked_finger
      • My guess is that because Merck is paying all the development costs on the other indications, that most of the remaining milestones are marketing - there may be a chunk due on approval in each indication, but the bulk will be meeting some kind of revenue threshold. There could be a nice milestone due on approval in ovarian, because it will be the first. Theoretically, there will be substantial off-label use in other indications well before formal approval in each indication - as long as the clinical trials are far enough along to give docs the comfort that an MTD and safe dosing regime have been established, they won't wait for the FDA.

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