Incyte ( INCY Quick Quote INCY - Free Report) announced that the FDA has extended the review period for the supplemental New Drug Application (sNDA) for lead drug, Jakafi (ruxolitinib). The sNDA is seeking the label expansion of the drug for the treatment of adult and pediatric patients 12 years and older with steroid-refractory chronic graft-versus-host disease (GVHD). The new Prescription Drug User Fee Act (PDUFA) target action date is Sep 22, 2021. The agency was earlier set to decide on the sNDA on Jun 22, 2021. The FDA extended the target action date for reviewing additional data submitted by Incyte in response to the agency’s information request. The submission of the additional information has been determined by the FDA to constitute a major amendment to the sNDA. Hence, this has resulted in an extension of the PDUFA goal date by three months. The sNDA was based on data from REACH3, a phase III randomized, open-label, multicenter study, which compared Jakafi with best available therapy (BAT) in adult and pediatric patients 12 years and older with steroid-refractory chronic GVHD. We note that Jakafi is a first-in-class JAK1/JAK2 inhibitor approved by the FDA for the treatment of steroid-refractory acute GVHD in adult and pediatric patients 12 years and older. Jakafi is also indicated for the treatment of polycythemia vera (PV) in adults who have had an inadequate response to or are intolerant of hydroxyurea as well as adults with intermediate or high-risk myelofibrosis (MF), including primary MF, post-polycythemia vera MF and post-essential thrombocythemia MF. An additional label expansion of the drug will boost sales. Shares of the company have lost 2.6% in the year so far compared with the industry’s 1.6% decline.
Image Source: Zacks Investment Research Incyte’s performance in the first quarter was unimpressive, as lead drug Jakafi’s net sales were affected by typical seasonal effects and softer patient demand growth due to the ongoing pandemic. The company has a collaboration agreement with Novartis ( NVS Quick Quote NVS - Free Report) . The NDA seeking approval of ruxolitinib cream for the treatment of atopic dermatitis (AD) has been accepted for Priority Review by the FDA and the PDUFA date has been set for Jun 21, 2021. AbbVie ( ABBV Quick Quote ABBV - Free Report) and Johnson & Johnson’s ( JNJ Quick Quote JNJ - Free Report) Imbruvica is approved for the treatment of adult patients with chronic GVHD. Incyte currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here Infrastructure Stock Boom to Sweep America A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made. The only question is “Will you get into the right stocks early when their growth potential is greatest?” Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale. Download FREE: How to Profit from Trillions on Spending for Infrastructure >>