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Incyte Treats First Patient in Phase II GVHD Study on Jakafi
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Incyte Corporation (INCY - Free Report) announced that the first patient has been treated in the pivotal phase II REACH-1 study assessing its marketed drug Jakafi, in combination with corticosteroids, for the treatment of steroid-refractory acute graft-versus-host disease (GVHD).
Incyte’s share price has fallen 4.3% in the past one month, compared with the Zacks classified Medical-Biomedical and Genetics industry’s fall of 2.3%.
Jakafi, Incyte’s sole marketed product, is a first-in-class JAK1/JAK2 inhibitor, approved in the U.S. for the treatment of patients with polycythemia vera (PV), who have had an inadequate response to or are intolerant to hydroxyurea. It is also approved for the treatment of intermediate or high-risk myelofibrosis (MF), including primary MF, post-PV MF and post-essential thrombocythemia MF. While Incyte markets the drug in the U.S., it is commercialized by Novartis (NVS - Free Report) as Jakavi outside the U.S.
Ruxolitinib has been granted Breakthrough Therapy designation for acute GVHD and Orphan Drug designation for the disease by the FDA. Based on its strong third quarter performance, Incyte raised its Jakafi sales expectations for 2016. The product is anticipated to rake in sales in the range of $850–$855 million. In third-quarter 2016 conference call, the company noted that Jakafi sales continued to grow rapidly driven by increased awareness of its benefits in both the MF and PV indications.
Currently there is no approved treatment for GVHD, which is a life threatening disease, thereby creating a significant unmet need.
Zacks Rank & Other Key Picks
Incyte currently carries a Zacks Rank #2 (Buy). Other favorably placed stocks in the health care sector include Cambrex Corporation andHeska Corporation . Both Cambrex and Heska sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Heska’s earnings estimates improved 19.5% for 2016 and 10.9% for 2017 in the last 60 days. The company posted a positive earnings surprise in each of the four trailing quarters, with an average beat of 301.64%. Its share price has increased 93.7% in 2016.
Cambrex’s earnings estimates increased 3.7% for 2016 and 5.2% for 2017 in the last 60 days. The company posted a positive earnings surprise in three of the four trailing quarters, with an average beat of 19.78%. Its share price is up 21.5% in 2016.
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Incyte Treats First Patient in Phase II GVHD Study on Jakafi
Incyte Corporation (INCY - Free Report) announced that the first patient has been treated in the pivotal phase II REACH-1 study assessing its marketed drug Jakafi, in combination with corticosteroids, for the treatment of steroid-refractory acute graft-versus-host disease (GVHD).
Incyte’s share price has fallen 4.3% in the past one month, compared with the Zacks classified Medical-Biomedical and Genetics industry’s fall of 2.3%.
Jakafi, Incyte’s sole marketed product, is a first-in-class JAK1/JAK2 inhibitor, approved in the U.S. for the treatment of patients with polycythemia vera (PV), who have had an inadequate response to or are intolerant to hydroxyurea. It is also approved for the treatment of intermediate or high-risk myelofibrosis (MF), including primary MF, post-PV MF and post-essential thrombocythemia MF. While Incyte markets the drug in the U.S., it is commercialized by Novartis (NVS - Free Report) as Jakavi outside the U.S.
Ruxolitinib has been granted Breakthrough Therapy designation for acute GVHD and Orphan Drug designation for the disease by the FDA. Based on its strong third quarter performance, Incyte raised its Jakafi sales expectations for 2016. The product is anticipated to rake in sales in the range of $850–$855 million. In third-quarter 2016 conference call, the company noted that Jakafi sales continued to grow rapidly driven by increased awareness of its benefits in both the MF and PV indications.
Currently there is no approved treatment for GVHD, which is a life threatening disease, thereby creating a significant unmet need.
Zacks Rank & Other Key Picks
Incyte currently carries a Zacks Rank #2 (Buy). Other favorably placed stocks in the health care sector include Cambrex Corporation andHeska Corporation . Both Cambrex and Heska sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Heska’s earnings estimates improved 19.5% for 2016 and 10.9% for 2017 in the last 60 days. The company posted a positive earnings surprise in each of the four trailing quarters, with an average beat of 301.64%. Its share price has increased 93.7% in 2016.
Cambrex’s earnings estimates increased 3.7% for 2016 and 5.2% for 2017 in the last 60 days. The company posted a positive earnings surprise in three of the four trailing quarters, with an average beat of 19.78%. Its share price is up 21.5% in 2016.
INCYTE CORP Price
INCYTE CORP Price | INCYTE CORP Quote
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest tickers for the entirety of 2017?
Who wouldn't? These 10 are painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. They are our primary picks to buy and hold. Be among the very first to see them >>