Phase 3 proceed trial for patients with non-small cell lung cancer (NSCLC). Look at the pipeline link below http://www.endocyte.com/?page_id=21 you can see the Merk logo on the ovarian but not the other, that means Merk has to pay 120 million when phase 3 starts and then they can add their logo there.
Endocyte FORM 10 Statement: about Phase2b TARGET (non small lung)
We will be responsible for the execution of the Phase 2b TARGET trial of vintafolide for the treatment of second line non-small cell lung cancer. Merck will be responsible for the costs of the TARGET trial and for all other development activities and costs and will have all decision rights with respect to the development and commercialization of vintafolide.
It states ECYT is responsible for Execution, and Merck for the "costs". This means indeed another $120 mln ECYT will get from Merck very soon. Most of the $120 mln they probably are eligable already for as this is Phase2b, one step for Phase III.
Current Cash Levels = Euro329 / Appr. $6,90 Add antother $3 just for EC145, non small lung
Look at single agent results in F++ patients and the minimal side effects when used in NSCLC patients. Terminal patients looking for a second alternative after they are no longer responding to first line should have the option ASAP.
This is also going to be an affordable medication. Which means a much faster uptake by third party formularies and doctors.