A little more than one year ago, I wrote a skeptical article about Endocyte (ECYT), a small, down-on-its-luck biotech that had just licensed an experimental prostate cancer drug in what the CEO called a “transformational” transaction.

Endocyte shares popped from $1 to $4 on the September 2017 deal, which I called out as an over-hyped reaction to some overly promotional claims made by the company and CEO Mike Sherman. The excitement over that “transformational” prostate cancer drug was more likely to end in disappointment, I wrote.

Unlock this article by subscribing to STAT Plus and enjoy your first 30 days free!

GET STARTED

What is it?

STAT Plus is a premium subscription that delivers daily market-moving biopharma coverage and in-depth science reporting from a team with decades of industry experience.

What's included?

  • Authoritative biopharma coverage and analysis, interviews with industry pioneers, policy analysis, and first looks at cutting edge laboratories and early stage research
  • Subscriber-only networking events and panel discussions across the country
  • Monthly subscriber-only live chats with our reporters and experts in the field
  • Discounted tickets to industry events and early-bird access to industry reports

Leave a Comment

Please enter your name.
Please enter a comment.

  • Don’t beat yourself up too much, history is littered with big pharmas’ bad investments. And Novartis bought Ablinx as well, so … there still time to watch their bodies floating down the river

Sign up for our Daily Recap newsletter

A roundup of STAT’s top stories of the day in science and medicine

Privacy Policy