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Incyte Corporation Skyrockets on Promising Trial for Jakafi

  +Follow August 21, 2013 9:20AM
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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
Ivan Bunin
30 Jan 15 05:59:42
$CTIC He's saying $INCY drug is better, but $CTIC might be better tolerated
Maleah
30 Jan 15 03:55:42
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tekcoRhsaC
29 Jan 15 11:23:56
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Seeking Alpha
29 Jan 15 11:20:13
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29 Jan 15 10:46:29
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29 Jan 15 09:55:29
Incyte’s Buy Rating Reiterated at Bank of America $INCY http://t.co/URQJV1rRoR
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29 Jan 15 09:46:03
$INCY: Incyte's Buy Rating Reiterated at Bank of America (INCY): http://t.co/xxd7G6dBnh
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29 Jan 15 08:44:52
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28 Jan 15 19:32:42
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28 Jan 15 19:32:30
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Tighe Blazier
28 Jan 15 18:20:45
RT @RareDR: #Incyte $INCY Pivotal Trial Testing Rutoxilitib (Jakafi) for Treating Patients with Polycythemia Vera Published http://t.co/hNv…
Cat Toy
28 Jan 15 17:53:45
RT @RareDR: #Incyte $INCY Pivotal Trial Testing Rutoxilitib (Jakafi) for Treating Patients with Polycythemia Vera Published http://t.co/hNv…
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28 Jan 15 17:53:16
#Incyte $INCY Pivotal Trial Testing Rutoxilitib (Jakafi) for Treating Patients with Polycythemia Vera Published http://t.co/hNvzMUxSK8
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28 Jan 15 16:52:07
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28 Jan 15 16:03:50
$INCY: Incyte announces publication of Phase III RESPONSE trial in patients with Polycythemia Vera in New England... http://t.co/ph4ASObKVO
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28 Jan 15 15:32:12
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28 Jan 15 14:33:42
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28 Jan 15 14:11:08
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28 Jan 15 14:04:42
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28 Jan 15 14:02:53
$INCY Incyte Announces Publication of Phase III RESPONSE Trial in Patients with Polycythemia Vera in New Engl From our Stock News Alerts App
Jacob Plieth
28 Jan 15 12:41:20
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28 Jan 15 11:20:36
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28 Jan 15 10:07:44
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28 Jan 15 10:00:06
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Market Int Center
28 Jan 15 09:43:42
Incyte $INCY Trading Near $85.04 Resistance Level ( http://t.co/l6QgP3vwmX )
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28 Jan 15 07:30:38
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28 Jan 15 07:05:22
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BioInvest
28 Jan 15 06:28:32
$INCY Jakafi for pancreatic cancer gets Orphan Drug designation - first solid tumor indication
ProVesting
28 Jan 15 06:26:04
$INCY: Short Interest of Incyte Corporation Increases by 1%: http://t.co/5ePRke6qYp
Nick M
28 Jan 15 05:42:56
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28 Jan 15 05:12:26
Incyte EVP Sells $1,081,328.70 in Stock $INCY http://t.co/XQTx20cP7Z
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28 Jan 15 03:04:09
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27 Jan 15 17:02:17
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27 Jan 15 11:50:23
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27 Jan 15 11:16:07
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27 Jan 15 11:16:05
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27 Jan 15 11:12:36
Incyte Price Target Raised to $92.00 at Bank of America $INCY http://t.co/DseXJvIgPd
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27 Jan 15 11:11:03
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27 Jan 15 10:50:53
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  +Follow August 21, 2013 9:20AM
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