Endocyte, Inc. (ECYT) saw its loss widen to $11.49 million, or $0.27 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $10.15 million, or $0.24 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 $11.73 million, compared with an operating loss of $10.34 million in the previous year period.
"We look forward to providing safety and efficacy updates for our clinical trials of both EC1169 and EC1456 at the Annual Meeting of the American Society of Clinical Oncology (ASCO) next month," said Mike Sherman, president and chief executive officer at Endocyte. "In addition, we continue to discover compelling applications of the SMDC platform and are working to more rapidly bring assets toward clinical development in several exciting areas, to drive more value from our pipeline. These include our dual-targeted DNA crosslinker drug that can attack both tumor associated macrophages (TAMs) and cancer cells, EC2629, and our chimeric antigen receptor T-cell (CAR T-cell) SMDC adaptor platform."
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