WEST LAFAYETTE, Ind., July 27, 2011 (GLOBE NEWSWIRE) -- Endocyte, Inc. (Nasdaq:ECYT), a biopharmaceutical company developing targeted small molecule drug conjugates (SMDCs) and companion imaging diagnostics for personalized therapy, announced today the pricing of the underwritten public offering of 5,809,931 shares of its common stock at a price to the public of $12.26 per share. 4,968,321 of these shares are being offered by Endocyte and 841,610 of these shares are being offered by an existing institutional shareholder. The offering was increased from the previously announced amount of 4,841,610 shares. Endocyte has granted the underwriters a 30-day option to purchase up to 871,489 additional shares to cover over-allotments, if any.
RBC Capital Markets, LLC and Leerink Swann LLC are acting as joint book-running managers, with Cowen and Company, LLC and Wedbush PacGrow Life Sciences acting as co-managers for the offering.
A registration statement relating to these securities has been filed with, and declared effective by, the U.S. Securities and Exchange Commission (SEC). This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state.
This offering will be made only by means of a prospectus. Copies of the preliminary prospectus or, when available, the final prospectus for this offering may be obtained from the prospectus department of RBC Capital Markets, LLC, Attention: Equity Syndicate, Three World Financial Center, 200 Vesey Street, 8th Floor, New York, NY 10281, or by telephone at (877) 822-4089, or from Leerink Swann LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, or by telephone at (800) 808-7525, ext. 4814. The registration statement may be accessed through the SEC's website at http://www.sec.gov.
About Endocyte
Endocyte is a biopharmaceutical company developing targeted therapies for the treatment of cancer and inflammatory diseases. Endocyte uses its proprietary technology to create novel SMDCs and companion imaging diagnostics for personalized targeted therapies. The company's SMDCs actively target receptors that are over-expressed on diseased cells, relative to healthy cells. This targeted approach is designed to enable the treatment of patients with highly active drugs at greater doses, delivered more frequently, and over longer periods of time than would be possible with the untargeted drug alone. The companion imaging diagnostics are designed to identify patients whose disease over-expresses the target of the therapy and who are therefore more likely to benefit from treatment.