Crazy biotech: Endocyte reaches 2-billion value over few months

The history of young biotech Endocyte is maybe the best way to cast light on the dynamics of US biotech industry, which is experiencing deep, fast changes. Only 15 months ago Endocyte was on the verge of an abyss: it announced a 40% jobs cut in July 2017, reducing its headcount to as few as 64 employees. At the same time, the company announced it planned to drastically downsize a major clinical trial.