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Endocyte Reports Fourth Quarter And Year End 2012 Financial Results And Business Update

Upcoming Expected Milestones

  • Receive EMA decision on MAAs in the fourth quarter of 2013
  • File IND and initiate clinical trial for folate-targeted tubulysin therapeutic in the first half of 2013
  • File IND and initiate clinical trial for PSMA-targeted tubulysin therapeutic and companion imaging agent near the end of 2013 or early 2014
  • Under collaboration with Merck, initiate randomized trial for vintafolide in folate receptor-positive triple negative breast cancer in the fourth quarter of 2013
  • Top-line data expected from the Phase 2b TARGET trial in NSCLC in the first half of 2014
  • Completion of enrollment of 250 folate receptor-positive (100%) patients in the Phase 3 PROCEED trial and decision on the potential expansion of enrollment in the first half of 2014

Conference Call

Endocyte management will host a conference call today at 4:30 p.m. EST.

U.S. and Canadian participants: (877) 845-0711
International: (760) 298-5081

A live, listen-only webcast of the conference call may also be accessed by visiting the Investor Relations section of the Endocyte website, www.endocyte.com .

A replay of the call will be available beginning at 7:30 p.m. EST on Feb. 25, until midnight EST on Mar. 4, 2013. To access the replay, please dial (855) 859-2056 (US/Canada) or (404) 537-3406 (International) and reference the conference ID 93752119. Additionally, the webcast will be recorded and available on the company's website for two weeks following the call.

Note on Non-GAAP Financial Measure

As used in this press release, the term "adjusted research and development expenses" is a financial measure that is not expressly recognized by accounting principles generally accepted in the United States, or GAAP. Adjusted research and development expenses are net of the amounts reimbursable during a period by Merck pursuant to the collaboration agreement for vintafolide which for US GAAP purposes are ultimately recorded as revenue. Endocyte provides adjusted research and development expense to enhance comparability with prior periods and uses it as a basis for guidance regarding future operations. A reconciliation of this non-GAAP measure to research and development expenses computed in accordance with GAAP is included in the financial tables below.

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