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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)

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Results for INCY
clayton
31 Jul 15 21:52:04
ZIOP ZIOPHARM Oncology, Inc. Stock Forum http://t.co/ukC50ksSn9 $ZIOP $INCY $MCD $QLD #ZIOP #stocks #tradeideas
Somanath
31 Jul 15 21:51:38
leahanneta : V Visa Inc. E.P.S. http://t.co/yIrf4TbQB7 $V $GNCP $INCY $DXJ #V #stockmar… http://t.co/KUt7KT4xSM) http://t.co/ELmY22nKeA
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31 Jul 15 21:50:03
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31 Jul 15 21:49:33
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31 Jul 15 21:49:04
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31 Jul 15 21:46:34
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SGYP Synergy Pharmaceuticals, Inc. Short Sales http://t.co/tX8yahwKNd $SGYP $ADM $LINE $INCY #SGYP #stockmarket #investing
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31 Jul 15 21:45:11
MO Altria Group Inc. Financials http://t.co/lVkhjwgrWE $MO $GPRO $INCY $MCD #MO #share #share
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31 Jul 15 21:40:04
INCY Incyte Corp. E.P.S. http://t.co/Cbs8lfgQ4M $INCY $CS $BIIB $MA #INCY #investing #pennystocks
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31 Jul 15 17:46:40
Website -> http://t.co/AxMPZBRsey $INCY Reports Tuesday, Consensus Est. Rev: $151.712M, EPS: $-0.12 http://t.co/ghLZY1MHKw
StockEarnings.com
31 Jul 15 15:31:19
$INCY releasing Earnings on 8/4 Before Open (Confirmed). Anybody buying/selling in Earnings? http://t.co/B88WowqTqq
Capital Market Labs
31 Jul 15 14:46:20
Interactive Chart -> http://t.co/fPjs4FAorm $INCY Assets are Expanding. http://t.co/7FHgO6F72D
Market Int Center
31 Jul 15 12:48:33
Incyte $INCY Showing Support Near $97.91 ( http://t.co/HwxsoVQw1P )
Stan
31 Jul 15 10:57:02
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Stan
31 Jul 15 08:15:34
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Estimize
31 Jul 15 08:08:35
@zzztimbo $INCY is reporting earnings for Q2 2015 on 08/04/15 – http://t.co/jmJjxnNNod
Estimize
31 Jul 15 08:08:34
@strategydesk $INCY is reporting earnings for Q2 2015 on 08/04/15 – http://t.co/jmJjxnNNod
Estimize
31 Jul 15 08:08:30
@macol30 $INCY is reporting earnings for Q2 2015 on 08/04/15 – http://t.co/jmJjxnNNod
investor wired
31 Jul 15 07:16:02
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stockassassin
31 Jul 15 07:09:06
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BioStockAddict
31 Jul 15 05:06:34
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Biotech Radar
31 Jul 15 04:13:12
RT @dougheuringaria: $GLPG $INCY http://t.co/ipf4TJnKl8
				
				
  +Follow August 21, 2013 9:20AM
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