In­cyte takes a beat­ing as a key PhI­II study flops in their lat­est painful set­back — block­buster hopes crushed

An­oth­er late-stage cat­a­lyst at In­cyte is go­ing down in flames.

Wide­ly viewed as a key mo­ment for In­cyte, which has been work­ing to make a come­back af­ter the IDO dis­as­ter with epaca­do­stat, the biotech re­port­ed Thurs­day evening that its Phase III study for itac­i­tinib in first-line graft vs host dis­ease has flopped.

Shares $IN­CY tanked 10% on the news af­ter the bell, nick­ing off close to $2 bil­lion in mar­ket cap.

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