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Incyte Corporation Skyrockets on Promising Trial for Jakafi

  +Follow August 21, 2013 9:20AM
Tickers Mentioned:

Pharmaceutical company Incyte Corporation (INCY) released very positive news on Aug. 21, revealing that their pancreatic cancer treatment drug ruxolitinib, marketed under the trade name Jakafi, had performed very well in Phase II trials, and that the drug could now move on to Phase III.

Incyte Executive Vice President Richard S. Levy pointed out that sufferers from advanced pancreatic cancer currently have very few options. If approved, the orally-administered drug would be one of the first on the market that exists as "an attractive treatment option" for sufferers of pancreatic cancer.

If approved by the FDA, this would be a major breakthrough. Metastatic pancreatic cancer has the lowest survival rate of any form of cancer. Currently, less than one percent of people afflicted survive more than five years.

Jakafi's ability to increase lifespan for sufferers looks very promising. In the Phase II trials, the six month survival rate for patients (when coupled with chemotherapy treatment) for Jakafi was 42 percent, compared to 11 percent for patients on a placebo.

Jakafi was first approved by the Food and Drug Administration in 2011 to treat a bone marrow disease. After its success in that arena, the company specualted that the drug might effectively treat other types of cancer as well. Now, the drug is fast aproaching approval to treat pancreatic cancer as well. Though it is currently the only drug the company has gotten passed by the USFDA. Jakafi seems to be fulfilling early analyst speculation that it could be a billion dollar blockbuster drug for the Delaware-based drug maker.

Incyte earned $54.1 million from sales of Jakafi in the second quarter of 2013, and expects to earn between $220 and $230 million total this year.

Incyte rocketed on the news, and went up 29.19 percent to hit $34.88 a share. They’re up 58.82 percent on the year.

(image courtesy of Wikimedia commons)

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.

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Results for INCY
Sleek Money
1 Nov 14 02:23:07
Incyte Sees Unusually-High Trading Volume Following Strong Earnings $INCY http://t.co/Sk8dWMvkDP
Investor Wand
1 Nov 14 01:06:27
Bullish on $INCY? Brean Murray, Carret & Co. thinks it's worth $76:http://t.co/A9xQOlBSOt
31 Oct 14 19:00:05
Gap Ups: $DHX $SERV $CACI $CALX $INCY $ALL $RAD $CAVM $FORM $CTRX $FLTX $MBT $CBSO $LOPE $BMY http://t.co/XQITF0lRKD #analyst #mkt #finance
Rag Time Gal
31 Oct 14 17:09:41
RT @OptionsHawk: $INCY extending y'day big move another 8% today
31 Oct 14 17:00:05
Upgraded: $BBY $DHX $TASR $BIN $FB $MHK $YRCW $IMPV $ATML $SGEN $TSO $MELI $ACHC $INCY $QIWI http://t.co/Vv2VEn80mr #mkt #trader #daytrader
Fa$tlane $tocks
31 Oct 14 16:28:58
Incyte (INCY) Looks Good: Stock Moves 10.9% Higher Today 07:13 AM http://t.co/D9bj4OtIa4 $INCY http://t.co/VCsVqtPDZF
31 Oct 14 16:21:42
MidCap #Stocks Performance $GRPN $LNKD $FCS $FSL $MCHP $ADI $EMN $ATML $INCY $TSO $SGEN $AVGO $EXPE $LLTC more@ http://t.co/tf79gD96D3
Smarter Analyst
31 Oct 14 14:56:57
$INCY Brean Capital Remains Positive On Incyte Following 3Q14 Results http://t.co/RM6wVmhVte
Option TB
31 Oct 14 14:44:52
$INCY Incyte Gains on Q3 Earnings and Revenue Beat, Raises View http://t.co/D6T86dwgsd #OptionTradingKungfu--> http://t.co/BJO7smfVpf
US Banking News
31 Oct 14 14:33:55
Incyte Sees Large Volume Increase Following Earnings Beat $INCY http://t.co/hFbGzK37Sm
Stock Signaling
31 Oct 14 14:32:09
Upgraded Stocks Trading in a New Range: $TASR $DHX $GEL $ONE $SDR $MOH $MELI $YRCW $IMPV $MMYT $SGEN $VECO $PCAR $INCY $QIWI #finance #spy
Sleek Money
31 Oct 14 12:53:55
Incyte Raised to “Neutral” at Goldman Sachs $INCY http://t.co/luRMBPr3v6
James P Worthy
31 Oct 14 12:31:41
$INCY Latest Updates on Incyte Corporation (NASDAQ:INCY) http://t.co/0ZC7cVYAUp
Scott Spencer
31 Oct 14 11:59:27
@alsabogal @DrPaulyDeSantis @wcclubchamp @MsTriciaD Paul, Great call on $INCY +26% $55 to $69 five-day rally...
Dr. Paul DeSantis
31 Oct 14 11:55:00
RT @alsabogal: @wcclubchamp @MsTriciaD @DrPaulyDeSantis Paul was all over the $INCY ...moster move...wish I entered!!!
Al Sabogal
31 Oct 14 11:53:35
@wcclubchamp @MsTriciaD @DrPaulyDeSantis Paul was all over the $INCY ...moster move...wish I entered!!!
31 Oct 14 11:50:58
@MsTriciaD @DrPaulyDeSantis @alsabogal @wcclubchamp: Nice job on both $GILD and $INCY. You basically called it correct when GS was wrong
31 Oct 14 11:36:21
$INCY trading @$67 now in part on Jakafi MOS in Panc Ca 4b under 6 months- PegpH20 extended 4b MOS to 19mos $HALO Looking @$67 on Ph2 result
Stock Signaling
31 Oct 14 11:31:46
Upgraded Stocks Trading in a New Range: $TASR $DHX $GEL $ONE $SDR $MOH $MELI $YRCW $IMPV $MMYT $SGEN $VECO $PCAR $INCY $QIWI #spy #dow #mkt
Joe Kunkle
31 Oct 14 10:31:57
$INCY extending y'day big move another 8% today
31 Oct 14 10:19:52
RT @JasonCRG: $INCY $13B MC fully diluted
Jason Chew
31 Oct 14 10:18:19
$INCY $13B MC fully diluted
Mr. Breakout
31 Oct 14 10:02:43
Stock Signaling
31 Oct 14 10:01:05
25 Stocks To Watch: http://t.co/Vtx6dLy0Nw : $BIN $SGEN $ACHC $IMPV $MXIM $ATML $TSO $YRCW $MELI $INCY $VCRA $BBD $MGM $TTWO $RFMD #stocks
31 Oct 14 09:20:32
$GDP $GLUU $INCY $RGLS $RNG $WLT $WNC $WTW $XCO autocharts @ http://t.co/hj7PGeTQk3
Leilani Pips
31 Oct 14 09:20:03
31 Oct 14 09:06:42
Nice job on both $GILD and $INCY. You basically called it correct when GS has been wrong all along
31 Oct 14 08:53:23
MidCap #Stocks Trend $FLT $SCTY $MYL $INCY $AN $WU $FCNCA $ARW $LNC $AMG $APH $FIS $LVLT $TFM $GT $JBL $WDC @ http://t.co/tf79gD96D3
Rag Time Gal
31 Oct 14 08:52:23
RT @StockSignaling: Pre-Market Price Advances: $MCHP $SPPI $WETF $ONNN $MELI $CAVM $CTRX $INCY $TTWO $DWA $CRUS $AVNR $LOPE $JDSU $ARCP htt…
31 Oct 14 08:32:32
$BGC $CENX $CYH $EGO $EXXI $GDP $GLUU $INCY $PPC autocharts @ http://t.co/hj7PGeTQk3
Bill Gunderson
31 Oct 14 08:14:14
$INCY continues to break out. #10 overall. I am long in my speculative trading acct.
31 Oct 14 08:02:32
$AEM $AU $BBSI $GRPN $INCY $SBGL $SLW $SYRG $XCO autocharts @ http://t.co/hj7PGeTQk3
César Segovia
31 Oct 14 07:45:25
Esto fue lo que alerte en $INCY http://t.co/aIdCk2UNWd
Tricia Dineen
31 Oct 14 07:36:08
@DrPaulyDeSantis @alsabogal late to the Party .. ha ..they can't read an invitation .you wrote article a month ago? $INCY
César Segovia
31 Oct 14 07:33:00
$INCY buenas ventas en el quiebre de 66
Dr. Paul DeSantis
31 Oct 14 07:26:56
Love Goldman's approach to biotech, late to the party as usual,Upgrade $INCY to neutral PT $62 @alsabogal $GILD soon http://t.co/OyaquhCrzi
César Segovia
31 Oct 14 07:16:51
$INCY estoy observando para un quiebre de 66
The Fly
31 Oct 14 07:00:51
On The Fly: Analyst Upgrade Summary $AXTI $ACHC $ATML $NILE $CEVA $COTY $ONE $IMPV $INCY $IPI $MPLX $MELI $MHK... http://t.co/XCefYxDKR5
31 Oct 14 07:00:04
Gap Ups: $DHX $SERV $CACI $CALX $INCY $ALL $RAD $CAVM $FORM $CTRX $FLTX $MBT $CBSO $LOPE $BMY http://t.co/XQITF0lRKD #analytics #finance
Market Int Center
31 Oct 14 06:47:41
Potential Incyte $INCY Trade Has 6.39% Downside Protection ( http://t.co/CapgAVEWF8 )
Stock Signaling
31 Oct 14 06:01:08
Pre-Market Price Advances: $MCHP $SPPI $WETF $ONNN $MELI $CAVM $CTRX $INCY $TTWO $DWA $CRUS $AVNR $LOPE $JDSU $ARCP http://t.co/Vtx6dLy0Nw
31 Oct 14 05:49:11
RT @StockSignaling: Upgrades: $INCY $BBBY $MBT $QIWI $IACI $BGCP $ENTG $MMS $GMED $ADVS $BBY $BBD $NYMT $WLL $RFMD http://t.co/Vtx6dLy0Nw #…
31 Oct 14 05:32:52
RT @crusadernz: BioPharmCatalyst pipeline updates+key dates for $ZIOP $OGXI $VSTM $GWPH $AUXL $ASPX $GEVA $ACOR $INCY http://t.co/j9gmnEFNVF
31 Oct 14 05:00:04
Upgraded: $ACHC $INCY $QIWI $S $BWA $WLL $BBD $LOPE $CREE $RFMD $NFX $SEE $TQNT $TTWO $V http://t.co/Vv2VEn80mr #analytics #spy #daytrader
Bio Stocks™
31 Oct 14 04:51:45
RT @crusadernz: BioPharmCatalyst pipeline updates+key dates for $ZIOP $OGXI $VSTM $GWPH $AUXL $ASPX $GEVA $ACOR $INCY http://t.co/j9gmnEFNVF
31 Oct 14 04:45:06
BioPharmCatalyst pipeline updates+key dates for $ZIOP $OGXI $VSTM $GWPH $AUXL $ASPX $GEVA $ACOR $INCY http://t.co/j9gmnEFNVF
31 Oct 14 04:15:08
Incyte : Assigned Patent http://t.co/LjF7fymFP1 $INCY
31 Oct 14 04:15:07
Incyte : Assigned Patent http://t.co/A5nB0CNORE $INCY
Stock Signaling
31 Oct 14 04:01:44
Upgrades: $INCY $BBBY $MBT $QIWI $IACI $BGCP $ENTG $MMS $GMED $ADVS $BBY $BBD $NYMT $WLL $RFMD http://t.co/Vtx6dLy0Nw #stock #dow #finance
31 Oct 14 03:03:25
Weekly MidCap #Stocks Trend $INCY $MSG $CTRX $SWI $HAR $ALKS $GT $RGC $MAR $PCYC $MD $CPA $AKAM $ABC $APOL $I @ http://t.co/tf79gD96D3
  +Follow August 21, 2013 9:20AM



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