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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
$$$ Money $$$
29 Aug 14 17:32:31
$ZIOP $GWPH $ADHD $TTPH $SNSS $INCY phase 2/3 data Q4. $NKTR $OREX $HALO $PGNX $NDSH FDA play in 4Q.Keep them on watch for catalysts play GL
Ofelia Hyatt
29 Aug 14 12:43:12
Earnings Estimat $INCY http://t.co/ICdQtnhjOZ
Kent Johnson
29 Aug 14 11:56:16
Biotechs on watch: $sgmo $dyax $acad $nvax $isis $sgen $pcyc $incy
Financial Headlines
29 Aug 14 10:26:14
$INCY: Earnings Estimates Moving Higher for Incyte Corporation (INCY): Time to Buy? http://t.co/GZoPZm0qnX http://t.co/oopskWiIWh
Business News Watch
29 Aug 14 08:26:14
$INCY: Incyte's Jakafi Fails to Provide RELIEF in Polycythemia Vera http://t.co/zxbEygMbb2 http://t.co/22r3z141pL
Blaise Fagan
29 Aug 14 08:14:10
Earnings Estimate $INCY http://t.co/MwG1f6k5s9
Rob
29 Aug 14 07:35:47
$INCY what a nice fade from open...wish i played it short
S Manian
28 Aug 14 18:42:59
RT @MaisaCorp: $MAISA #Phase3BinaryCatalyst #4thQ2014 $GWPH $RVNC $ZIOP $XOMA $SNSS $RDUS $PTLA $NBIX $INCY $IMGN $EXEL $DYAX $ASPX $ADMA $…
Thanhhongluong
28 Aug 14 18:15:07
RT @MaisaCorp: $MAISA #Phase3BinaryCatalyst #4thQ2014 $GWPH $RVNC $ZIOP $XOMA $SNSS $RDUS $PTLA $NBIX $INCY $IMGN $EXEL $DYAX $ASPX $ADMA $…
MAISA
28 Aug 14 17:40:00
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Margart Vargas
28 Aug 14 16:30:30
Earnings Estima $INCY http://t.co/Y3pUOSbox2
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28 Aug 14 14:22:49
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Daily Contracts
28 Aug 14 12:56:01
Real-Time feed of company contracts, original agreements and executive updates from Incyte Corporation $INCY http://t.co/KBicQORxY2
Business Updates
28 Aug 14 11:26:15
$INCY: Why Incyte (INCY) Might Surprise This Earnings Season http://t.co/xLLzI9YlhT http://t.co/tf048wQAmT
Market Int Center
28 Aug 14 10:03:47
Incyte $INCY Trading Near $55.65 Resistance Level ( http://t.co/yVaCGRhgIR )
ThinkingProfit.com
28 Aug 14 09:41:35
$INCY: 4 open, suited signals indicate continued price increase beyond average holding times. http://t.co/570VKPtvhl
Eddy Alonso
28 Aug 14 08:55:01
Earnings Estimate $INCY http://t.co/VbJRtsQuRp
mikele.it
28 Aug 14 06:44:50
$GILD plans for $INCY?
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28 Aug 14 06:26:13
$INCY: Why Incyte (INCY) Might Surprise This Earnings Season http://t.co/bzP6KazrnT http://t.co/83QdL7HODX
Seeking Alpha
28 Aug 14 06:00:05
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Seeking Alpha
28 Aug 14 05:45:34
Gilead: Let's Make A Deal http://t.co/prpX9aKEdr $ALNY $ICPT $INCY $REGN $GILD
stocktrackeralert
28 Aug 14 05:00:52
Pre Market Movers: $GOMO 8.42(-19.04%) $INCY 44.70(-18.30%) $EVOK 5.95(-11.46%) $WSM 66.70(-10.94%) $TLYS 7.70(-9.62%)
Mikael Furesjö
28 Aug 14 01:20:33
#Stock #Scan:< #NYSE starts #trading 28Aug2014 (part III) http://t.co/OIli4vIgZI $CTRX $INCY $CBST $OCR $JKS $R $BID $EDU $VIV $SCO $KMT
Shimon Blumenfeld
28 Aug 14 01:07:25
RT @StockSignaling: Insider Buys: $GWRE $WAL $STX $SIMG $ALXN $DOOR $MDT $CSGP $AZPN $SREV $HD $RVLT $HBI $INCY $FMER http://t.co/Vtx6dLy0N…
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28 Aug 14 01:01:47
Insider Buys: $GWRE $WAL $STX $SIMG $ALXN $DOOR $MDT $CSGP $AZPN $SREV $HD $RVLT $HBI $INCY $FMER http://t.co/Vtx6dLy0Nw #daytrader #stocks
$Stocknewsalerts
27 Aug 14 13:39:17
$INCY ALERT: New Incyte Corporation SEC Filing From our Stock News Alerts App
Stock News Headlines
27 Aug 14 13:26:13
$INCY: Why Incyte (INCY) Might Surprise This Earnings Season http://t.co/JsfkK7xSLa http://t.co/5yhLX7bsS3
Market Int Center
27 Aug 14 12:51:28
Potential Incyte $INCY Trade Has 5.07% Downside Protection ( http://t.co/IrsrGMm8aE )
Wall Street Monitor
27 Aug 14 12:26:20
$INCY: Incyte Partners With Genetech to Help With Trials http://t.co/4FO0t9dap9 http://t.co/2o9EuD6F1x
il falso guaritore
27 Aug 14 11:38:45
RT @AndyBiotech: $PFE opens Ph2 Single Agent Study of PF-04449913 (Hedgehog pathway SMO inhibitor) In #Myelofibrosis http://t.co/zSZxSeI1xM…
Samuel Brown
27 Aug 14 10:00:49
$INCY Earnings Estimates Moving Higher for Incyte Corporation (INCY): Time to Buy? http://t.co/tbRp1JBVC7
V.S. Schulz
27 Aug 14 09:15:40
Not too late to get some #BBBiotech. Discount to NAV at around 26%. $CELG $GILD $ATLN $ISIS $INCY $PBYI $MDVN $VRTX http://t.co/Lcx7wdwcrt
Colin White
27 Aug 14 09:00:45
RT @AndyBiotech: $PFE opens Ph2 Single Agent Study of PF-04449913 (Hedgehog pathway SMO inhibitor) In #Myelofibrosis http://t.co/zSZxSeI1xM…
DM Oncology
27 Aug 14 09:00:41
RT @AndyBiotech: $PFE opens Ph2 Single Agent Study of PF-04449913 (Hedgehog pathway SMO inhibitor) In #Myelofibrosis http://t.co/zSZxSeI1xM…
JonnyFinlay
27 Aug 14 08:42:15
RT @AndyBiotech: $PFE opens Ph2 Single Agent Study of PF-04449913 (Hedgehog pathway SMO inhibitor) In #Myelofibrosis http://t.co/zSZxSeI1xM…
Mathew Pletcher
27 Aug 14 08:36:09
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Ronald J. Perez, PhD
27 Aug 14 08:13:01
RT @AndyBiotech: $PFE opens Ph2 Single Agent Study of PF-04449913 (Hedgehog pathway SMO inhibitor) In #Myelofibrosis http://t.co/zSZxSeI1xM…
Andy Biotech
27 Aug 14 08:11:29
$PFE opens Ph2 Single Agent Study of PF-04449913 (Hedgehog pathway SMO inhibitor) In #Myelofibrosis http://t.co/zSZxSeI1xM $INCY $GERN $CRIS
Florida Biotech
27 Aug 14 05:39:36
RT @Stocks_Biotech: Earnings Estimates Moving Higher for Incyte Corporation (INCY): Time to Buy?.. http://t.co/O3xROVw2tt $INCY #biotech #s…
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27 Aug 14 05:33:59
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26 Aug 14 23:53:59
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26 Aug 14 16:26:16
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26 Aug 14 16:03:28
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26 Aug 14 16:00:05
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Clair Voight
26 Aug 14 13:01:22
$INCY Incyte Posts Wider-than-Expected Q2 Loss, Raises Sales View http://t.co/Npg13sCiuz
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26 Aug 14 13:01:10
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Market Updater
26 Aug 14 11:26:17
$INCY: Why Incyte (INCY) Might Surprise This Earnings Season http://t.co/ghaj8u4aYU http://t.co/Li8o1YzXru
Stock Market Monitor
26 Aug 14 09:26:16
$INCY: Incyte Posts Wider-than-Expected Q2 Loss, Raises Sales View http://t.co/l8vmUnICXK http://t.co/oFJKJoJWwf
				
				
  +Follow August 21, 2013 9:20AM
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