Endocyte soars after Q3 update

Endocyte (ECYT +30.1%) is up nicely following the company's Q3 report and update. Net loss for the period was $0.08/share. Revenue was $16.6M (Merck collab).

PROCEED (vintafolide/etarfolatide in platinum resistant ovarian cancer) enrollment is on track. Interim analysis in Q2 2014.

TARGET top-line read-out expected in Q1 2014. See here for more on TARGET.

The FDA has accepted an IND for EC1456.

CHMP opinion still expected next month or in January.

Cash and equivalents guidance for end of year: Unchanged at $145-160M. (PR)

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