Bay Area Biotech Investor

A Valuation Model For Endocyte's Small Molecule Drug Conjugates And Imaging Platform

Endocyte (NASDAQ:ECYT) is a biopharmaceutical company targeting cancer with a unique small molecule drug conjugate (SMDC) and companion imaging platform. Despite the stock price rising to an all time high last week, Endocyte is still undervalued. To provide you with sufficient background information, I suggest you read my previous article on Endocyte before reading my valuation model presented in this article. The purpose of this article is to determine the present value of Endocyte using discounted cash flow (DCF) analysis. Although Endocyte has multiple programs in clinical development, I will only discuss the most advanced: vintafolide (EC145)/etarfolatide (EC20) [currently in a phase III clinical trial (PROCEED) for platinum resistant ovarian cancer (PROC) and a phase II clinical trial...

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