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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