Boston, MA 03\/21\/2014 (wallstreetpr) –\u00a0Endocyte, Inc. (NASDAQ:ECYT)<\/b> announced that its lung cancer drug candidate showed positive results in patients during the mid-stage study. The company also announced recommendation for the use of the drug in the treatment of ovarian cancer patients in Europe. Shares of the company gained significantly on the back of the positive news.<\/p>\n
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However, there is an interesting angle that is also emerging alongside the positive drug study results. Analysts believe that the company, owing to its promising pipeline and technology, could be a target for merger or acquisition. For investors, all these mean good news. If the company decides to go it alone towards developing and commercialization of its already promising lung cancer treatment, it will be alright because that means a new source of sustainable revenue for the long haul.<\/p>\n
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But also, if a potential buyer steps forward with a good deal, that will still provide attractive gain as the technology and the drug pipeline that Endocyte, Inc. (NASDAQ:ECYT) has can fetch significantly high purchase figure.<\/p>\n
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No particular names have been identified as cycling the company at this juncture, but Adnan Butt who is an analyst with RBC Capital Markets believes a deal is possible at this point. He also pointed out that following the release of the study finding, Endocyte, Inc. (NASDAQ:ECYT) has emerged clearly as a platform technology company, thus, sharing same lines with Seattle Genetics Inc (NASDAQ:SGEN) <\/b>and ImmunoGen Inc (NASDAQ:IMGN)<\/b>.<\/p>\n
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At present, Endocyte works in partnership with Merck & Co Inc (NYSE:MRK)<\/b>.<\/p>\n
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Study results<\/b><\/p>\n
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In the mid-stage study of vintafolide for lung cancer treatment, Endocyte, Inc. (NASDAQ:ECYT) discovered that the drug significantly improved survival rates in patients with lung cancer condition. There were no related deaths or cases of worsening disease conditions where the drug was used in patient during the study. The company announced that vintafolide has been recommended for approval, albeit conditional, for treatment of ovarian cancer in Europe.<\/p>\n
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Stock action<\/b><\/p>\n
Shares of Endocyte, Inc. (NASDAQ:ECYT) jumped about 130 percent to $33.70 and is currently trending up around 90 percent above the closing price on Thursday. The shares opened at $33.29 and have been traded in the range of $8.18 – $33.70 in the past 12-month time-frame<\/p>\n
The encouraging study results and the recommendation for the use of vintafolide in treatment of ovarian cancer in Europe, together with the talks about acquisition come as a powerful combination that should keep the share soaring.<\/p>\n","protected":false},"excerpt":{"rendered":"
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