Endocyte Reports Loss, Details R&D Partnership
(Image courtesy of the Seattle Children's Research Institute.)
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowWest Lafayette-based Endocyte Inc. (Nasdaq: ECYT) has announced annual financial results and a new research collaboration. The company is reporting a full-year loss of $41.3 million, compared to a loss of $43.9 million in 2015. The partnership with Seattle Children’s Research Institute involves joining Endocyte technology with the institute’s research efforts.
The goal, Endocyte says, is to more quickly move use of the technology to patients. Endocyte Chief Executive Officer Mike Sherman says "together, Seattle Children’s Research Institute and Endocyte hope to make a meaningful difference in shaping the future of CAR T-cell therapies and offering an important new treatment option to cancer patients." He adds the collaboration " is an indication of the promise of our technology and a reflection of our commitment to establishing partnerships intended to bring early stage programs to the clinic more rapidly and drive more value from our pipeline."
Endocyte says the partnership with institute and Dr. Michael Jensen involves development of its small molecule drug conjugates platform and the chimeric antigen receptor T-cell immunotherapy research efforts at the Ben Towne Center for Childhood Cancer Research in Seattle.
For the fourth quarter, the company reports a loss of $11.1 million, compared to a loss of $9.9 million in the same period a year earlier. You can connect to more about the earnings report by clicking here and the new collaboration by clicking here.