Commitments and Contingencies

9 Months Ended

Sep. 30, 2018

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies Disclosure [Text Block]

10. Commitments and Contingencies

On November 6, 2018, a lawsuit captioned Elaine Wang v. Endocyte, Inc., et al., Civil Action No. 4:18-cv-00085, was filed by a purported stockholder of the Company in the United States District Court, Northern District of Indiana, against the Company and the members of the Company’s Board of Directors. The complaint alleges, among other things, that the preliminary proxy statement filed by the Company with the SEC on October 31, 2018 related to the special meeting of the Company’s stockholders to be held in connection with the Merger, contained untrue statements of fact and/or omitted material facts necessary to make the statements made in such preliminary proxy statement not misleading, and that therefore the Company and the members of the Company’s Board of Directors violated Section 14(a) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and Rule 14a-9 thereunder. The lawsuit further alleges that the members of the Company’s Board of Directors violated Section 20(a) of the Exchange Act. The lawsuit seeks, among other things, injunctive relief: (i) enjoining the consummation of the Merger unless and until material information that was allegedly omitted from the Company’s preliminary proxy statement is disclosed; (ii) rescinding, to the extent already implemented, the Merger Agreement or any of the terms thereof, or granting plaintiff rescissory damages; and (iii) awarding plaintiff the costs and disbursements of the action, including reasonable attorneys’ and expert fees and expenses. The Company and the members of the Company’s Board of Directors believe the lawsuit is without merit and intend to vigorously defend against it.