On Tuesday, Incyte Corporation (NASDAQ: INCY) shares price traded between $66.10 and $71.47 during the last trading session downbeat with -6.97% at $66.73. The shares recorded a trading volume 4,064,585 million shares as compared to its average volume of 2,700,323 shares. The company has 211.97M shares outstanding and market value of 14.145B. Over the one year trading period, the stock has a peak price of $140.11 and its down is recorded at $60.23. The short ratio in the (Ticker) stock is 2.95 and the short float is around of 4.21%.
Incyte Corporation (INCY) recently reports 2018 first-quarter financial results, highlighting strong growth in total product-related revenue and providing a status update on the Company’s development portfolio.
“Jakafi continues to grow with important momentum as we bring the benefits of this first-in-class treatment to an increasing number of patients,” stated Hervé Hoppenot, Incyte’s Chief Executive Officer. “We expect to be able to provide important updates from our development portfolio over the coming months—including the results of the first pivotal trial of Jakafi in graft-versus-host disease and initial data from our FGFR program in cholangiocarcinoma—as we continue to work on developing innovative therapies for patients in need.”
Portfolio Update
Oncology – key highlights
Results from the REACH1 trial evaluating ruxolitinib in patients with steroid-refractory acute graft-versus-host disease (GVHD) are predictable in the first half of 2018. Data emerging from this open-label, pivotal trial continue to support Incyte’s intention to submit an sNDA in the second half of 2018, seeking authorization of ruxolitinib in this indication.
Initial data from the trial evaluating INCB54828 in patients with cholangiocarcinoma are predictable in second half of 2018.
As before reported, the external Data Monitoring Committee (eDMC) review of the pivotal Phase 3 ECHO-301 study evaluating epacadostat in combination pembrolizumab in patients with unresectable or metastatic melanoma determined that the study did not meet the primary endpoint of improving progression-free survival in the overall population contrast to pembrolizumab monotherapy. The study’s second primary endpoint of overall survival also was not predictable to reach statistical significance. Based on these results, and at the recommendation of the eDMC, the study has been stopped to enable patients and their physicians to consider alternative therapeutic options, and Incyte is also importantly downsizing the epacadostat development program.
Partnered – key highlights
In April 2018, the US. Food and Drug Administration (FDA) convened its Arthritis Advisory Committee to discuss the resubmission of the baricitinib NDA, which recommended authorization of the 2mg dose of baricitinib as a once-daily oral medication for the treatment of moderately-to-severely active rheumatoid arthritis for adult patients who have had an inadequate response or intolerance to methotrexate. While the Advisory Committee unanimously supported the efficacy of the 4mg dose of baricitinib, it did not recommend authorization of the 4mg dose of baricitinib for the proposed indication based on the adequacy of the safety and benefit-risk profiles. The FDA action date for baricitinib is in June 2018.
Corporate Update
In April 2018, Maria E. Pasquale joined the Incyte Executive Management team as Executive Vice President and General Counsel. Maria joined Incyte from Celgene Corporation, where for 17 years she held positions of increasing accountability including Chief Counsel and Senior Vice President, Legal & Deputy General Counsel, where she led the legal department through Celgene’s global expansion. Most recently, Maria served as Celgene’s Executive Vice President and Global Chief Compliance Officer, responsible for GxP and healthcare compliance globally.
Return on equity (ROE) was noted as -11.10% while return on investment (ROI) was -14.80%. The stock’s institutional ownership stands at 97.30%. (INCY) EPS growth ratio for the past five years was -35.00% while Sales growth for the past five years was 38.90%.
