With clear regulatory path, Endocyte raises $175M

Endocyte Inc. (NASDAQ:ECYT) raised $175 million through the sale of $9.5 million shares at $18.50 in a follow-on underwritten by Jefferies, Wells Fargo and RBC Capital Markets. The price was a 2% discount to Endocyte's close on Monday at $18.89; Endocyte gained $0.66 to $19.55 on Tuesday, and priced the offering after market hours.