Endocyte Inc. is planning a public offering to sell $175 million of its common shares.
The West Lafayette, Ind.-based company intends to use the net proceeds to fund the clinical development of its pipeline products, to prepare for the launch of prostate cancer drug Lu-PSMA-617, if approved, as well as for working capital and general corporate purposes.
Endocyte expects to grant the underwriters an option to buy up to an additional $26.3 million of common shares.
Jefferies LLC, Wells Fargo Securities LLC and RBC Capital Markets LLC are acting as joint book-running managers for the proposed offering.
Endocyte is a biopharmaceutical company that develops targeted therapies for treating cancer and inflammatory diseases.