Yahoo Finance Today’s Research Reports on Stocks to Watch: Endocyte and MyoKardia
NEW YORK, NY / ACCESSWIRE / February 27, 2018 / Endocyte shares saw big gains on Monday after reporting its fourth quarter report and an agreement with ITM Isotopen Technologien. Shares of MyoKardia also hit a brand new high despite any news yesterday.
RDI Initiates Coverage on:
Endocyte, Inc.
https://rdinvesting.com/news/?ticker=ECYT
MyoKardia, Inc.
https://rdinvesting.com/news/?ticker=MYOK
Endocyte's shares exploded on Monday to close up 9.25% on about 1.4 million shares traded. Volume traded was significantly higher than average yesterday after the biopharmaceutical company reported its fourth quarter report. The company reported a loss of $8.6 million for the quarter. On a per share basis this was a loss of 18 cents. Revenue was $12,000. It may have been another piece of news that had investors cheering. The company also announced a supply agreement with ITM Isotopen Technologien München AG (ITM). According to the press release, "ITM will supply to Endocyte the medical radioisotope no-carrier-added (n.c.a.) lutetium (177Lu), EndolucinBeta®, to support clinical supply of 177Lu-PSMA-617 for the phase 3 VISION trial expected to be initiated by Endocyte in the second quarter of 2018." CEO of Endocyte Mike Sherman commented, "ITM has been an innovator in the development of the highly purified form of lutetium-177, an integral component of the 177Lu-PSMA-617 therapy for the investigational treatment of prostate cancer. We have made a strategic decision to utilize EndolucinBeta® because of its favorable properties which will be important due to 177Lu-PSMA-617's significant potential market opportunity and widespread use. We are pleased to announce this agreement with ITM which will be key to the effective execution of our phase 3 VISION trial."
Access RDI's Endocyte, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=ECYT
MyoKardia's shares closed up 7.67% on nearly 440,000 shares traded on Monday. The stock hit a brand new high of $62.20 during intra-day trading despite any catalyst to explain the move. The stock was upgraded by BidaskClub from "hold" to "buy" on February 17th. Analysts are waiting for the company's earnings report scheduled for March 12th. Earlier in the month the clinical-stage biopharmaceutical company announced that dosing has began in a Phase 1b single-ascending dose patient study of the company's MYK-491, an investigation drug candidate for dilated cardiomyopathy (DCM.) MYK-491 is being developed in an ongoing collaboration between the company and Sanofi. Chief Medical Officer of MyoKardia, Marc Semigran stated, "Patients with DCM suffer from debilitating symptoms due to inadequate cardiac contraction and the consequent insufficient blood flow characteristic of their disease. There are currently no approved therapies that directly target the depressed contractility present in dilated cardiomyopathy. MYK-491 was designed to address the underlying biomechanical cause of DCM. As we advance into further clinical testing, we look forward to gaining insights into MYK-491's potential to increase cardiac contractility and we are hopeful this drug candidate may restore the heart's contractility towards normal function in patients."
Access RDI's MyoKardia, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=MYOK
Our Actionable Research on Endocyte, Inc. (NASDAQ: ECYT) and MyoKardia, Inc. (NASDAQ: MYOK) can be downloaded free of charge at Research Driven Investing.
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SOURCE: RDInvesting.com