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I asked a seasoned biotech business development executive, a guy who spends a lot of time digging deep into cancer drugs for potential licensing deals, what he thought about the experimental prostate cancer drug acquired by Endocyte (ECYT). Since announcing the deal on Monday morning, Endocyte’s stock price has quadrupled.

“PSMA is a target proven over and over as ineffective in treating prostate cancer due to significant off-target toxicity. Anyone looking at this can pretty much stop there,” he told me.

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