Endocyte Announces Closing Of Public Offering Of Common Stock

WEST LAFAYETTE, March 02, 2018 (GLOBE NEWSWIRE) -- Endocyte, Inc. (Nasdaq:ECYT), a biopharmaceutical company developing targeted therapeutics for personalized cancer treatment, announced today the closing of an underwritten registered public offering of 20,535,714 shares of its common stock, including full exercise of the underwriters’ option to purchase additional shares of common stock, at a public offering price of $4.20 per share.All shares of common stock sold in the offering were sold by Endocyte.

Endocyte received aggregate net proceeds from the offering of approximately $80.6 million, after deducting underwriting discounts and commissions and estimated offering expenses payable by Endocyte.  Endocyte intends to use the net proceeds from the offering to fund the continued clinical development of its pipeline products, as well as for working capital and general corporate purposes.

Jefferies LLC, Wells Fargo Securities, LLC, and Deutsche Bank Securities Inc. acted as joint book-running managers for the offering.Wedbush Securities Inc. acted as co-lead manager for the offering. 

The securities described above were offered pursuant to a shelf registration statement on Form S-3 (File No. 333-220920) that was declared effective by the U.S. Securities and Exchange Commission, or the SEC, on October 24, 2017.  The offering was made by means of a prospectus supplement and accompanying prospectus filed with the SEC,  copies of which may be obtained by visiting the SEC’s website at www.sec.gov or by contacting Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, New York 10022, by telephone at (877) 821-7388, or by email at Prospectus_Department@Jefferies.com; Wells Fargo Securities, LLC, Attention: Equity Syndicate Department, 375 Park Avenue, New York, New York 10152, by telephone at (800) 326-5897, or by email at cmclientsupport@wellsfargo.com; or Deutsche Bank Securities Inc., Attention: Prospectus Group, 60 Wall Street, New York, New York 10005, by telephone at (800) 503-4611, or by email at prospectus.cpdg@db.com

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