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Endocyte completes secondary public offering

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West Lafayette-based Endocyte Inc. raised about $66.8 million in a secondary public offering of nearly 6.7 million shares of company stock.

The biotech firm announced on Tuesday that it closed on the public offering, which the company launched in mid-July. Shares for the offering were priced at $12.26 each.

Cowen and Co. LLC and Wedbush PacGrow Life Sciences, both based in New York, served as co-managers for the offering.

Endocyte, which also has offices in Indianapolis, said it intends to seek permission to sell its ovarian cancer drug in Europe on a limited basis. The decision to proceed came after consultation with the European Medicines Agency and written advice from the regulators, Endocyte said in April.

Endocyte shares were trading at $12.45 each in late-morning trading, up considerably from the $6 initial public offering price in February.

 

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