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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
InterCooler
18 Sep 14 17:51:38
Incyte EVP Sells $380,640 in Stock $INCY http://t.co/uKfMGJZBXD
Michael Torres, PhD
18 Sep 14 17:21:04
RT @AmericanBanking: Incyte EVP Unloads $380,640 in Stock $INCY http://t.co/0GVC4DNeTi
US Banking News
18 Sep 14 17:20:28
Incyte EVP Unloads $380,640 in Stock $INCY http://t.co/0GVC4DNeTi
Daily Contracts
18 Sep 14 13:27:02
Real-Time feed of company contracts, original agreements and executive updates from Incyte Corporation $INCY http://t.co/KBicQORxY2
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18 Sep 14 13:20:11
$INCY - Statement of Changes in Beneficial Ownership (4) http://t.co/EUtt2MYY4G
$Stocknewsalerts
18 Sep 14 13:17:37
$INCY ALERT: New Incyte Corporation SEC Filing From our Stock News Alerts App
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18 Sep 14 13:01:00
$INCY Earnings Estimates Moving Higher for Incyte Corporation (INCY): Time to Buy? http://t.co/DOB5P6iS4Q
12Stocks.com Biotech
18 Sep 14 10:12:28
Analyst Sees Incyte Worth 70% More.. http://t.co/6lX9voqq3r $INCY #biotech #stocks
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18 Sep 14 07:22:22
Analyst Sees $INCY #Incyte Worth 70% More http://t.co/PyTVC9DkJf
KiesenBiker
18 Sep 14 04:09:52
RT @CaptainFuture__: $ARWR $ALNY $CYCC $CYTR $NBS $RPRX $SPPI $INO $INCY 9/26 @ BioCentury Publications NewsMakers in the Biotech Industry …
ThinkNWaves
18 Sep 14 00:11:00
RT @CaptainFuture__: $ARWR $ALNY $CYCC $CYTR $NBS $RPRX $SPPI $INO $INCY 9/26 @ BioCentury Publications NewsMakers in the Biotech Industry …
4-traders.com
17 Sep 14 18:30:05
Incyte : Patent Issued for Salts of the Janus Kinase Inhibitor ®-3-(4-(7H-Pyrrolopyrimidin-4-Yl)-1H-Pyrazol... http://t.co/oem2UIeyoc $INCY
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17 Sep 14 16:05:15
RT @CaptainFuture__: $ARWR $ALNY $CYCC $CYTR $NBS $RPRX $SPPI $INO $INCY 9/26 @ BioCentury Publications NewsMakers in the Biotech Industry …
iHangout
17 Sep 14 16:02:12
http://t.co/jYcEVtZYAh chartguy89: Stock Charts: INCY 48.26 Stock Charts $INCY Incyte Corp. http://t.co/PL7eQE1DzG
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17 Sep 14 15:58:39
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Incyte : to Present at the 21st Annual BioCentury NewsMakers Conference http://t.co/f6CBb8SE2a $INCY
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17 Sep 14 08:22:23
Incyte Given “Buy” Rating at Argus $INCY http://t.co/UO7m6eyVLN
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17 Sep 14 06:44:55
1/2 Wednesday's top analyst #upgrades, #downgrades, and #initiations are in $AEP, $BUD, $BHP, $DVA, $GE, $GNC, $INCY, $K, $MBT, $MDLZ, $MMM,
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17 Sep 14 06:40:06
RT @CaptainFuture__: $ARWR $ALNY $CYCC $CYTR $NBS $RPRX $SPPI $INO $INCY 9/26 @ BioCentury Publications NewsMakers in the Biotech Industry …
Market Int Center
17 Sep 14 06:34:24
Incyte $INCY Trading Near $46.68 Support Level ( http://t.co/usWsdbaf2F )
dougheuring
17 Sep 14 06:05:52
RT @CaptainFuture__: $ARWR $ALNY $CYCC $CYTR $NBS $RPRX $SPPI $INO $INCY 9/26 @ BioCentury Publications NewsMakers in the Biotech Industry …
Captain Future
17 Sep 14 05:56:30
$ARWR $ALNY $CYCC $CYTR $NBS $RPRX $SPPI $INO $INCY 9/26 @ BioCentury Publications NewsMakers in the Biotech Industry http://t.co/yxKj5Rlysa
The Fly
17 Sep 14 05:44:10
$INCY Incyte weakness creates buying opportunity, says Argus: Full Story http://t.co/iOHJbleQh9
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17 Sep 14 05:28:38
Wednesday top analyst upgrades & downgrades $AEP $BUD $BHP $DVA $GE $GNC $INCY $K $MBT $MMM $RYI $SKUL $TYC $UA $UTX http://t.co/wfCojTI1da
US Banking News
17 Sep 14 05:24:37
Argus Reaffirms Buy Rating for Incyte $INCY http://t.co/2se5O1pxxt
US Consumer News
17 Sep 14 05:19:36
Incyte's buy rating reiterated at Argus. $50.00 PT. http://t.co/tDINIFMYE6 $INCY #INCY
Analyst Ratings
17 Sep 14 05:19:28
Incyte's buy rating reiterated at Argus. $50.00 PT. http://t.co/fcMfntZ62Z $INCY #INCY
chartguy89
17 Sep 14 01:47:15
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16 Sep 14 11:09:30
@BioInvestor2013 http://t.co/Yl1KB9kXil $OXGN $SRPT $ACAD $kerx $mstx $baxs $cmxi $qcor $atrs $bmrn $idix $gale $incy $DNDN $ACAD
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16 Sep 14 10:01:01
$INCY News Buzz: Incyte Corporation (NASDAQ:INCY), CSX Corp. (NYSE:CSX ... http://t.co/SgrU6WT2Hw
Jeffrey Blake
16 Sep 14 10:00:59
$INCY Commit To Purchase Incyte Corporation At $40, Earn 10.5% Using Options http://t.co/HQdCuXHzNO
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16 Sep 14 08:01:17
$INCY Commit To Purchase Incyte Corporation At $40, Earn 10.5% Using Options http://t.co/J3DcQCHnj9
Media Sentiment
15 Sep 14 11:20:26
$INCY received a new alert. Find out why at http://t.co/5udYd0Ofs6 #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 324
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OTPicks.com
12 Sep 14 23:50:23
http://t.co/rruxxRYVwc $heff: $INCY..SunTrust Starts Incyte at Buy http://streetinsider.... http://t.co/7qejWUmGi4 http://t.co/rruxxRYVwc
Samuel Brown
12 Sep 14 12:31:13
$INCY Commit To Purchase Incyte Corporation At $40, Earn 10.5% Using Options http://t.co/YorRxZMp79
OTPicks.com
12 Sep 14 11:11:43
http://t.co/rruxxRYVwc $heff: $INCY..Incyte Pharmaceutical: Top Idea For 2H14 With 2: $heff http://t.co/e3PyxWNTmz http://t.co/rruxxRYVwc
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12 Sep 14 08:59:21
RT @DrPaulyDeSantis: Commented on: "Incyte Pharmaceutical: Top Idea For 2H14 With 2 Free Call Options D... http://t.co/uHotoX4d4U $INCY $AB…
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12 Sep 14 08:55:32
Commented on: "Incyte Pharmaceutical: Top Idea For 2H14 With 2 Free Call Options D... http://t.co/uHotoX4d4U $INCY $ABBV $ARWR
Wall Street Daily
12 Sep 14 08:35:24
Moved off the $INCY late yesterday.
4-traders.com
12 Sep 14 04:10:07
Incyte : Assigned Patent http://t.co/tjUqFwWgKy $INCY
nuere
12 Sep 14 03:01:25
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11 Sep 14 23:46:19
RT @DrPaulyDeSantis: Commented on: "Incyte Pharmaceutical: Top Idea For 2H14 With 2 Free Call Options D... http://t.co/jNs3px0dBP $INCY $AB…
Bo Czernyk
11 Sep 14 23:46:01
@DrPaulyDeSantis Just finished the $Incy piece you/your firm published in Seeking Alpha. damn, great insight!
MAISA
11 Sep 14 16:06:16
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11 Sep 14 13:01:47
$INCY Commit To Purchase Incyte Corporation At $40, Earn 10.5% Using Options http://t.co/iRaD1kJMFp
PHARMD
11 Sep 14 12:26:17
RT @DrPaulyDeSantis: Commented on: "Incyte Pharmaceutical: Top Idea For 2H14 With 2 Free Call Options D... http://t.co/jNs3px0dBP $INCY $AB…
Dr. Paul DeSantis
11 Sep 14 12:21:00
Commented on: "Incyte Pharmaceutical: Top Idea For 2H14 With 2 Free Call Options D... http://t.co/jNs3px0dBP $INCY $ABBV $ARWR
				
				
  +Follow August 21, 2013 9:20AM
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