According to an amended SEC filing, ovarian cancer drug developer Endocyte doubled the number of shares to be offered in its IPO from 5.35 million to 10.7 million, while at the same time cutting the proposed price range in half, from $13-$15 to $7 per share. While the company's anticipated net proceeds of $68 million will remain unchanged, its market cap decreased by 34% from $269 million to $179 million. Lead underwriter RBC Capital Markets is expected to price the offering on Thursday evening, and the stock is expected to commence trading on the NASDAQ under the ticker symbol ECYT on Friday.
