Endocyte (ECYT) Reports a Wider Q4 Loss
West Lafayette, IN-based Endocyte, IncECYT 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. The company has beaten estimates in three of the last four quarters, with a positive average earnings surprise of 10.22%.
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:
Earnings: Endocyte reported a loss per share of 26 cents per share while our consensus called for a loss of 25 cents per share.
Revenue: The company earned collaboration revenue of $12,000.
Key Stats: Research and development expenses were $8.2 million for the fourth quarter of 2016, up 22% year over year. General and administrative expenses were $3.1 million, down 13.9% year over year.
Check back later for our full write up on this Endocyte earnings report later!
Endocyte, Inc. Price and EPS Surprise
More Stock News: 8 Companies Verge on Apple-Like Run
Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2017 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs. A bonus Zacks Special Report names this breakthrough and the 8 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains. . Click to see them right now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report