Just-in-time IPO

Cancer company Endocyte Inc. has just enough cash to get to year end and hopes the IPO offering it filed last week will fund a Phase III trial of lead candidate EC145 to treat patients with platinum-resistant ovarian cancer. The study is expected to start early next year.

EC145, a combination of a folate vitamin analog and a microtubule destabilizing anticancer agent, is in the ongoing PRECEDENT Phase II for the same indication. In an interim analysis in 91 patients released in June, EC145 plus Doxil liposomal doxorubicin resulted in median progression-free survival (PFS) of 24 weeks vs. 11.7 weeks for Doxil alone. A preliminary overall survival (OS) analysis showed a non-significant trend toward benefit for the combination.Final data are expected early next year...