7:48 PM
 | 
Sep 11, 2018
 |  BC Extra  |  Financial News

With clear regulatory path, Endocyte raises $175M

Endocyte Inc. (NASDAQ:ECYT) raised $175 million through the sale of 9.5 million shares at $18.50 in a follow-on underwritten by Jefferies, Wells Fargo, RBC Capital Markets and Wedbush. The price was a 2% discount to Endocyte's close on Monday at $18.89; Endocyte gained $0.66 to $19.55 on Tuesday, and priced the offering after market hours.

Endocyte's shares rose 11% on Monday after the company said FDA clarified the regulatory path for its 177Lu-PSMA-617, potentially shortening its timeline to gain full approval to treat metastatic...

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