Key Developments: Incyte Corp (INCY.OQ)

INCY.OQ on NASDAQ Stock Exchange Global Select Market

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Latest Key Developments (Source: Significant Developments)

Incyte Corp's Drug Jakafi (ruxolitinib) Improves Overall Survival in Phase III Trial of Patients with Myelofibrosis
Monday, 17 Jun 2013 02:00am EDT 

Incyte Corp announced results from two ongoing clinical trials of Jakafi (ruxolitinib), an oral JAK1 and JAK2 inhibitor that is FDA-approved for the treatment of patients with intermediate or high-risk myelofibrosis (MF), that were presented at the 18th Congress of the European Hematology Association (EHA) in Stockholm, Sweden. In a three-year follow-up analysis of the Phase III COMFORT-II study, treatment with Jakafi, which is marketed as Jakavi by Novartis outside the United States, was associated with improved overall survival and sustained reductions in spleen size compared to best available therapy. In a separate exploratory analysis of bone marrow fibrosis data from an ongoing Phase I/II single-arm, open-label clinical trial, by 48 months of treatment, Jakafi stabilized or reversed fibrosis of the bone marrow in 56% and 22%, respectively, of patients with MF, a magnitude of an effect not seen historically with best available therapy. In a three-year follow-up analysis of the COMFORT-II study, an overall survival advantage was observed in patients treated with Jakafi compared to patients receiving best available therapy. A 52% reduction in risk of death was observed in the Jakafi arm compared with best available therapy (HR=0.48; 95% CI, 0.28-0.85; p=0.009)1, and the estimated probability of overall survival was significantly greater with Jakafi compared to best available therapy (81% compared to 61%, respectively) at 144 weeks.  Full Article

Incyte Corp Announces Final Results From Phase I Trial Of INCB024360
Saturday, 1 Jun 2013 02:15pm EDT 

Incyte Corp announced final results from the Phase I clinical trial for its oral indoleamine dioxygenase-1 (IDO1) inhibitor, INCB024360, at the American Society of Clinical Oncology (ASCO) Annual Meeting in Chicago. IDO1 inhibition may provide a new approach in enhancing the immune system in patients with a variety of solid tumors. The findings of the Phase I study were reported during a discussion session of the poster, Phase I Study of the Safety, Pharmacokinetics and Pharmacodynamics of the Oral Inhibitor of Indoleamine 2,3-dioxygenase INCB024360 in Patients with Advanced Malignancies. The Phase I study of INCB024360 is an open-label, single-agent dose-escalation trial in 52 patients with advanced malignancies. Using two independent pharmacodynamic assays, IDO1 inhibition was observed in all patients receiving the compound. Treatment with a number of doses of INCB024360 resulted in greater than 90% inhibition of IDO1 activity, which were well tolerated with no maximum tolerated dose established. The most common grade 1 or 2 adverse events were fatigue and gastrointestinal disturbances, and the most common grade 3 or 4 adverse events were abdominal pain, hypokalemia and fatigue.  Full Article

Pomerantz Law Firm Reminds Shareholders With Losses On Their Investment In Incyte Corp Of Class Action Lawsuit And Upcoming Deadline
Friday, 26 Apr 2013 01:35pm EDT 

Pomerantz Grossman Hufford Dahlstrom & Gross LLP announced that it has filed a class action lawsuit against Incyte Corporation (Incyte or the Company) and certain of its officers. The class action filed in United States District Court, District of Delaware, is on behalf of a class consisting of all persons or entities who purchased or otherwise acquired securities of Incyte between April 26, 2012 and August 1, 2012, both dates inclusive of (the Class Period). This class action seeks to recover damages against the Company and certain of its officers and directors as a result of alleged violations of the federal securities laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. The Complaint alleges that throughout the Class Period, Defendants issued a series of materially false and misleading statements regarding the Company's revenues and operations, and prospects. Specifically, on April 26, 2012 Incyte issued a press release announcing its 1Q 2012 financial results (including a $40 million milestone payment) and boosting Incyte's FY 2012 revenue forecast more than 60%, from $67 million to $107 million.  Full Article

The Law Firm of Levi & Korsinsky Notifies Investors With Losses On Their Investment In Incyte Corp Of Class Action Lawsuit And The May 6, 2013 Lead Plaintiff Deadline
Tuesday, 23 Apr 2013 03:22pm EDT 

Levi & Korsinsky announced that a class action lawsuit has been commenced in the United States District Court for the District of Delaware on behalf of investors who purchased Incyte Corp stock between April 26, 2012 and August 1, 2012 (the Class Period). According to the complaint, Incyte's reported fourth quarter 2011 and first quarter 2012 sales were artificially inflated due to a large number of advanced-stage myelofibrosis patients being prescribed the drug upon FDA approval in November 2011--patients who had been too sick to participate in the clinical trials.  Full Article

The Law Firm Of Levi & Korsinsky Notifies Investors With Losses On Their Investment In Incyte Corporation Of Class Action Lawsuit And May 6, 2013 Lead Plaintiff Deadline
Friday, 19 Apr 2013 12:40pm EDT 

Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the District of Delaware on behalf of investors who purchased Incyte Corporation (Incyte or the Company) stock between April 26, 2012 and August 1, 2012 (the Class Period).  Full Article

Glancy Binkow & Goldberg LLP Announces Lead Plaintiff Deadline In Class Action Lawsuit Against Incyte Corp
Friday, 12 Apr 2013 09:13pm EDT 

Glancy Binkow & Goldberg LLP announced that purchasers of the common stock of Incyte Corp between April 26, 2012 and August 1, 2012 (the Class Period) have until May 6, 2013 to file a motion with the Court to be appointed as lead plaintiff. The shareholder lawsuit was filed in the United States District Court for the District of Delaware. The Complaint alleges that Incyte issued misleading statements concerning demand for the Company’s myelofibrosis drug, Jakafi. On August 2, 2012 Incyte announced the Company’s second quarter 2012 financial results and disclosed that the sales growth of Jakafi had been much softer during the second quarter of 2012 than investors and certain stock analysts had been led to expect. In response to these disclosures, the price of Incyte stock declined 22% from its August 1, 2012 close of $24.92 per share, to close at $19.57 per share on August 2, 2012 on heavy trading volume.  Full Article

Lifshitz Law Firm Announces Investigation Of Incyte Corp
Tuesday, 9 Apr 2013 07:14pm EDT 

Lifshitz Law Firm announced that a class action suit was filed in the United States District Court for the District of Delaware, alleging that Incyte Corp issued false and misleading statements to investors between April 26, 2012 and August 1, 2012 (Class Period). On August 2, 2012, Incyte revealed that Jakafi sales growth had been much softer during the second quarter of 2012 than investors had been led to expect. The firm is investigating legal claims against the officers and Board of Directors of Incyte during the Class Period.  Full Article

Glancy Binkow & Goldberg LLP Announces Class Action Lawsuit Against Incyte Corp
Friday, 5 Apr 2013 09:00pm EDT 

Glancy Binkow & Goldberg LLP announced that a class action lawsuit has been filed in the United States District Court for the District of Delaware on behalf of a class (the Class) comprising all purchasers of the common stock of Incyte Corp between April 26, 2012 and August 1, 2012 (the Class Period). The Complaint alleges that certain statements issued by Incyte during the Class Period were false and misleading regarding the Company’s business and financial prospects. Incyte, a biopharmaceutical company, focuses on the discovery, development and commercialization of proprietary small molecule drugs for oncology and treatment of inflammation. The Complaint alleges that Incyte issued misleading statements concerning demand for the Company’s myelofibrosis drug, Jakafi. On August 2, 2012, Incyte announced the Company’s second quarter 2012 financial results and disclosed that the sales growth of Jakafi had been much softer during the second quarter of 2012 than investors and certain stock analysts had been led to expect. In response to these disclosures, the price of Incyte stock declined 22% from its August 1, 2012 close of $24.92 per share, to close at $19.57 per share on August 2, 2012 on heavy trading volume.  Full Article

Law Offices of Todd M. Garber Announces Lead Plaintiff Deadline in the Class Action Lawsuit Against Incyte Corp
Tuesday, 2 Apr 2013 11:33pm EDT 

The Law Offices of Todd M. Garber announced that shareholders of Incyte Corp have until May 6, 2013 to move for lead plaintiff status in the shareholder lawsuit filed in the United States District Court for the District of Delaware. The lawsuit was filed on behalf of a class comprising all purchasers of Incyte common stock between April 26, 2012 and August 1, 2012, inclusive  Full Article

Law Offices of Todd M. Garber Announces Class Action Lawsuit Against Incyte Corp
Saturday, 16 Mar 2013 05:00am EDT 

The Law Offices of Todd M. Garber announced that a class action lawsuit has been filed in the United States District Court for the Delaware District Court on behalf of all purchasers of the common stock of Incyte Corp between April 26, 2012 and August 1, 2012, inclusive (the Class Period). The complaint alleges that Incyte mislead investors with false reports of strong demand for the Company’s myelofibrosis drug, Jakafi. On August 2, 2012, Incyte announced the Company’s second quarter 2012 financial results and disclosed that the sales growth of Jakafi had been much softer during the second quarter of 2012 than investors and certain stock analysts had been led to expect. In response to these disclosures, the price of Incyte stock declined 22% from its August 1, 2012 close of $24.92 per share to close at $19.57 per share on August 2, 2012, on heavy trading volume.  Full Article

Lilly says arthritis pill effective in mid-stage study

- Eli Lilly and Co and Incyte Corp said their experimental drug was effective in reducing painful symptoms associated with rheumatoid arthritis after 52 weeks of treatment.

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