Endocyte Inc. (ECYT) saw its loss narrow to $9.79 million, or $0.23 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $11.06 million, or $0.26 a share. Revenue during the quarter was stable at $0.01 million, when compared with the previous year period.
Operating loss for the quarter was $9.90 million, compared with an operating loss of $11.27 million in the previous year period.
"We are pleased to report progress on several aspects of the business during the last several weeks," commented Mike Sherman, president and CEO at Endocyte. "The separately announced collaboration with Seattle Children’s Research Institute and Dr. Michael Jensen, an innovator and thought leader in the field of chimeric antigen receptor T-cell (CAR T-cell) immunotherapies, 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. Mike Andriole joining us as chief financial officer also adds significant experience and capacity to pursue value driving partnerships going forward."
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