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Stock Market & Financial Investment News

News Breaks
December 10, 2012
18:22 EDTINCYIncyte's Jakafi trials suggest survival benefits for patients with myelofibrosis
Incyte Corporation announced that several analyses from clinical studies of Jakafi were presented at the 2012 American Society of Hematology Annual Meeting. Jakafi, an oral Janus kinase, or JAK, inhibitor, is FDA-approved for the treatment of patients with intermediate or high-risk myelofibrosis, or MF. In long-term results from two randomized Phase III clinical trials -- COMFORT-I and COMFORT-II -- patients with myelofibrosis treated with Jakafi had improved survival over placebo and best available therapy, suggesting an overall survival benefit. Additionally, data from an ongoing Phase II trial suggest that long-term treatment with Jakafi may be a durably efficacious therapy for patients with polycythemia vera.
News For INCY From The Last 14 Days
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February 11, 2016
07:08 EDTINCYIncyte sees epacadostat entering Phase 3 during 1H16
Incyte (INCY) said its position in the field of JAK inhibition is demonstrated by the ongoing commercial success of Jakafi and by the recent submissions, by Eli Lilly and Company (LLY), seeking regulatory approval of baricitinib for the treatment of rheumatoid arthritis. Baricitinib was licensed to Lilly by Incyte, and met the primary endpoint in all four of its global Phase 3 studies. If approved, Lilly expects to launch baricitinib in early 2017. In addition, epacadostat, Incyte's first-in-class IDO1 inhibitor, is expected to enter Phase 3 during the first half of 2016 in first-line advanced or metastatic melanoma in combination with Merck & Co's pembrolizumab. Multiple Phase 2, tumor-specific, expansion cohorts of epacadostat in combination with anti-PD-1 and anti-PD-L1 checkpoint modulators are also underway.
07:07 EDTINCYIncyte sees FY16 Jakafi revenue $800M-$815M
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07:05 EDTINCYIncyte reports Q4 EPS 29c, consensus 9c
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06:58 EDTINCYIncyte discontinuing studies of ruxolitinib for pancreatic cancer
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February 10, 2016
14:32 EDTINCYNotable companies reporting before tomorrow's open
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11:21 EDTINCYIncyte rises after competitor drug put on hold by FDA
Shares of Incyte (INCY) are rising after a competitor's myelofibrosis drug was placed on full clinical hold by the FDA. WHAT'S NEW: CTI BioPharma (CTIC) announced Tuesday night that it received notice from the FDA that its Investigational New Drug Application for pacritinib had been placed on full clinical hold. Under the full clinical hold, all patients currently on pacritinib must discontinue the drug immediately and no patients can be enrolled or start pacritinib as initial or crossover treatment. CTI BioPharma withdrew its New Drug Application until the company has had a chance to review the safety and efficacy data from the PERSIST-2 Phase 3 clinical trial and decide next steps. Previously, on February 8, CTI BioPharma had announced the drug was on partial clinical hold. ANALYST REACTION: Leerink analyst Michael Schmidt said that while he didn't view CTI BioPharma's pacritinib as a significant threat to Incyte's Jakafi franchise in myelofibrosis, he believes the "surprising" setback of a potential competitor should remove a small overhang on Incyte shares. Leerink has an Outperform rating and $118 price target on Incyte shares. Meanwhile, CTI BioPharma was downgraded by analysts at Piper Jaffray, WallachBeth and Ladenburg. Among them, WallachBeth's Bob Ai downgraded CTI to Sell with a 0c price target, saying he sees no reason to hold the stock. PRICE ACTION: Shares of Incyte gained 3.4% to $74.71 in late morning trading, while shares of CTI BioPharma plunged 41% to 29c.
08:20 EDTINCYPacritinib hold an incremental positive for Incyte, says Leerink
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January 28, 2016
11:33 EDTINCYOptions with increasing call volume
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08:14 EDTINCYIncyte selloff brings long-term buying opportunity, says Jefferies
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08:08 EDTINCYIncyte selloff a buying opportunity, says Leerink
Leerink analyst Michael Schmidt recommends using today's pullback in shares of Incyte after the company announced its decision to stop one arm of its ongoing Phase II trial of ruxolitinib in metastatic colorectal cancer due to futility as a buying opportunity. The study is one of several ongoing trials to evaluate ruxolitinib in various solid tumor indications, the analyst points out. He says that while the news is disappointing, the stock's current valuation reflects very little if any value for ruxolitinib in solid tumor indications. Schmidt lowered his price target for Incyte shares to $118 from $135 and reiterates an Outperform rating on the name. The stock is down 13%, or $9.98, to $65.01 in pre-market trading.
07:43 EDTINCYIncyte weakness creates buying opportunity, says Oppenheimer
After Incyte announced that it would stop a Phase-2 study of Ruxolitinib plus regorafenib for R/R metastatic colorectal cancer and high-CRP patients due to insufficient efficacy, Oppenheimer says the data makes the drug's anti-inflammatory properties in solid tumors questionable. However, the firm did not previously include revenue from the drug outside of pancreatic cancer in its estimates. The firm keeps a $129 price target and Outperform rating on the shares.

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