WEST LAFAYETTE, Ind., Aug. 2, 2011 (GLOBE NEWSWIRE) -- Endocyte, Inc. (Nasdaq:ECYT), a biopharmaceutical company developing targeted small molecule drug conjugates (SMDCs) and companion imaging diagnostics for personalized therapy, announced today the closing of the underwritten public offering of 6,681,420 shares of its common stock at $12.26 per share. Of the total shares in the offering, 5,839,810 shares were sold by Endocyte, which includes the exercise in full by the underwriters of their option to purchase up to 871,489 additional shares at the public offering price, less underwriting discounts and commissions, and the remaining 841,610 shares were sold by an existing institutional shareholder. Endocyte expects to receive net proceeds of approximately $66.8 million from the offering after deducting underwriting discounts and commissions and other offering expenses.
