On December 20, 2018 Endocyte, Inc. (Nasdaq:ECYT) ("Endocyte"), a biopharmaceutical company developing targeted therapeutics for cancer treatment, reported that at its Special Meeting of Stockholders held earlier today, Endocyte’s stockholders approved the adoption of the merger agreement pursuant to which Novartis AG will acquire Endocyte for $24 per share, or a total equity value of approximately $2.1 billion, in cash (Press release, Endocyte, DEC 20, 2018, View Source [SID1234532192]).

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Approximately 99.8% of the votes cast at the meeting voted to approve the adoption of the merger agreement, representing approximately 69.5% of Endocyte’s outstanding common stock as of the record date for the Special Meeting of Stockholders.

Subject to the satisfaction of customary closing conditions, the proposed merger is expected to close on or about December 21, 2018.