Analysts: Investors wrong to dump Endocyte

Investors on Friday dumped shares of West Lafayette-based Endocyte Inc. after an independent analysis said an experimental lung cancer drug is unlikely to be declared superior to existing chemotherapy. But two analysts say, to the contrary, the analysis shows the prospects for Endocyte’s drug are as good as ever.

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PANEL: Life sciences will see radically different future

IBJ convened a panel of experts at its Life Sciences Power Breakfast on May 10 to talk about the industry issues of venture capital, digital health innovations and research university entrepreneurship.

Panel members included Kristin Eilenberg, CEO, Lodestone Logic, Infuse Accelerator; Philip S. Low, Purdue University professor of chemistry, founder and chief science officer at Endocyte Inc. and On Target Laboratories LLC; R. Matthew Neff, president, CHV Capital Inc.; Brian Stemme, project director; BioCrossroads; Brian S. Williams, director, Global Healthcare Strategy, PricewaterhouseCoopers International Ltd.; and Raul Zaveleta, CEO, Indigo BioSystems Inc.

The following is an unedited transcript of the discussion.

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Mike Sherman, the chief financial officer at West Lafayette-based Endocyte Inc., talked about how the drug firm’s funding partnership with New Jersey-based Merck & Co. Inc. has helped accelerate development of the company’s pipeline, which is branching out into drugs to treat cancers of the lung, prostate and breast.

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Endocyte prices IPO stock

The West Lafayette-based drug development firm intends to sell 6.15 million shares for $13 to $15 apiece. That would fetch $80 million to $92 million.

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