Incyte Genomics Inc (INCY)
Incyte Genomics Inc. is a biotechnology company focused on the discovery and development of proprietary therapeutic and diagnostic products, primarily through genomic research. The company specializes in identifying genetic targets to develop novel medicines for various diseases, including cancer and inflammatory conditions.
Company News
CMS reported successful phase 3 clinical trial results for ruxolitinib cream in treating mild to moderate atopic dermatitis, with significantly higher patient improvement rates compared to placebo and minimal adverse events.
Incyte's investigational drug povorcitinib met its primary endpoint in two phase 3 trials for treating moderate to severe hidradenitis suppurativa, but some analysts were expecting better results given the drug's performance in phase 2 trials. The drug will face competition from UCB's Bimzelx, which is already approved by the FDA.
Incyte reported mixed results from its late-stage Opzelura studies in prurigo nodularis, a skin condition with itchy firm lumps. The TRuE-PN1 study met its primary endpoint, but the TRuE-PN2 study missed statistical significance due to a high placebo response.
Cathie Wood's ARK ETF made several strategic trades, including selling a significant position in Incyte, buying more Recursion Pharmaceuticals, and acquiring shares of Blade Air Mobility.
Mesoblast (MESO) skyrockets 208.2% year to date on encouraging progress with its pipeline candidates.
