ARTICLE | Company News

Endocyte soars on deal for ABX's CRPC candidate

October 2, 2017 11:20 PM UTC

Endocyte Inc. (NASDAQ:ECYT) jumped $2.22 (157%) to $3.63 on Monday after ABX GmbH (Radeberg, Germany) granted the biotech exclusive, worldwide rights to develop and commercialize prostate-specific membrane antigen (PSMA; FOLH1; GCPII)-targeting ligand PSMA-617.

ABX received $12 million up front and is eligible for up to $160 million in regulatory and commercialization milestones, plus tiered royalties starting in the mid-teens. ABX will also receive 2 million Endocyte shares and warrants to purchase for up to 4 million shares at $1.39...