Endocyte (ECYT) Reports Narrower than Expected Q1 Loss
West Lafayette, IN-based Endocyte, Inc ECYT is a development-stage biopharmaceutical company, focused on bringing targeted therapies for the treatment of cancer and inflammatory diseases to market. The company uses its proprietary technology to create small-molecule drug conjugates (SMDCs) and companion imaging agents for the SMDCs to identify patients whose disease over-expresses the target of the therapy, and are thereby likely to benefit from treatment.
Major research and development (R&D) projects at Endocyte include vintafolide (non-small cell lung cancer (NSCLC)), EC1456 (advanced solid tumors) and EC1169 (advanced prostate cancer).
Endocyte has a mixed track record of earnings surprises. The company has beaten estimates in two of the last four quarters, with a positive average earnings surprise of 5.52%.
Currently, Endocyte has a Zacks Rank #3 (Hold), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Loss Narrower-than-Expected: Endocyte reported a loss per share of 27 cents per share while our consensus called for a loss of 28 cents per share.
Revenue: The company earned collaboration revenue of $0.012 million, flat year over year.
Key Stats: Research and development expenses were $6.5 million for the first quarter of 2017, down 18.3% year over year. General and administrative expenses were $3.8 million, up 2% year over year.
Share Price Impact: Shares were in-activet in pre market trading.
Check back later for our full write up on this ECYT earnings report later!
Endocyte, Inc. Price and EPS Surprise
Endocyte, Inc. Price and EPS Surprise | Endocyte, Inc. Quote
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Endocyte, Inc. (ECYT): Free Stock Analysis Report
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