Endocyte Inc. (ECYT) announced after the close Tuesday that it has regained the worldwide rights to vintafolide in all indications from Merck. Merck has decided that it will no longer pursue development of vintafolide. Endocyte is now down 1.67 on 757K shares.
Endocyte posted gains in the first hour of trade Tuesday and advanced further going into the close. The stock ended the day with a gain of 0.71 at $7.72 on above average volume. Endocyte broke out of a range at the lows of the year and set a month and a half high.
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