Endocyte, Inc. (NASDAQ:ECYT) presented poster updates on its two lead clinical programs at the ESMO 2016 Congress, being held in Copenhagen, Denmark October 7-11, 2016.
“We are pleased that both EC1456 and EC1169 have shown anti-tumor activity during the dose escalation phase of their respective trials, even in patients not specifically identified as positive for the drug targets,” said Mike Sherman, president and CEO at Endocyte. “The activity we’ve seen to date with EC1169 in prostate cancer patients is particularly exciting, with our first confirmed radiologic partial response (PR). This quarter we expect to move the 6.5 mg/m2 dose into the expansion phase of the study where we will evaluate EC1169 in patients selected as prostate specific membrane antigen (PSMA)-positive using our companion imaging agent, EC0652. We have also moved on to the expansion phase of the EC1456 trial, using our companion imaging agent etarfolatide to select folate receptor (FR)-positive non-small cell lung cancer (NSCLC) patients.”
“Despite the current therapy options available for prostate cancer patients, there remains a need for safe and effective alternatives for these patients following treatment with hormone therapies,” stated Michael J. Morris, M.D., Associate Professor, Genitourinary Oncology, Memorial Sloan Kettering Cancer Center, New York. “The disease is more challenging to treat at this stage, so the safety data, and at least the preliminary efficacy data, which we’re seeing with Endocyte’s PSMA-targeted agent is encouraging. I look forward to further exploring this novel drug in patients with metastatic prostate cancer.” (Original Source)
Shares of Endocyte closed last Friday at $3.14, down $0.14 or -4.27%. ECYT has a 1-year high of $5.63 and a 1-year low of $2.65. The stock’s 50-day moving average is $3.08 and its 200-day moving average is $3.38.
On the ratings front, Endocyte has been the subject of a number of recent research reports. In a report issued on August 5, Cowen analyst Boris Peaker reiterated a Buy rating on ECYT. Separately, on August 4, Credit Suisse’s Kennen MacKay reiterated a Buy rating on the stock and has a price target of $7.00.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Boris Peaker and Kennen MacKay have a total average return of 16.8% and 23.9% respectively. Peaker has a success rate of 50% and is ranked #141 out of 4183 analysts, while MacKay has a success rate of 78.5% and is ranked #33.
Endocyte, Inc. is a biopharmaceutical company, which develops targeted therapies for the treatment of cancer and inflammatory diseases. The company uses its proprietary technology to create novel small molecule drug conjugates and companion imaging diagnostics for personalized targeted therapies. Its small molecule drug conjugates are actively target receptors that are over-expressed on diseased cells.