Incyte Genomics Inc - INCY STOCK NEWS

Incyte announced positive 52-week results from a Phase 2 study on the oral JAK1 inhibitor povorcitinib for treating hidradenitis suppurativa (HS). The trial demonstrated sustained efficacy, showing significant reductions in abscess and inflammatory nodule counts across all treatment arms. At Week 52, 22-29% of patients achieved complete response (HiSCR100). The open-label extension indicated consistent tolerability, with common adverse events including COVID-19 and acne. The study's findings affirm the potential of povorcitinib as a viable long-term treatment for this debilitating skin condition.

Incyte reported a robust financial performance for FY'22, with total net product revenues reaching $2.75 billion, a growth of 18% year-over-year. The company achieved total revenues of $3.4 billion, up 14% YOY. Jakafi net revenues amounted to $2.41 billion, marking a 13% increase, while guidance for 2023 forecasts Jakafi revenues between $2.53 and $2.63 billion. Opzelura Cream also showed significant demand, generating $61 million in Q4'22 alone. The company is optimistic about upcoming clinical trial results and has received a six-month patent extension for Jakafi, now expiring in December 2028. They hold a conference call today at 8:00 a.m. ET to discuss further details.

Incyte (NASDAQ:INCY) will present at the Guggenheim Healthcare Talks Oncology Day on February 8, 2023, at 1:35 p.m. (EST) in New York. This presentation will be available for live webcast and can be accessed via Investor.Incyte.com. A replay of the event will be available for 30 days after the broadcast.

Based in Wilmington, Delaware, Incyte is a global biopharmaceutical company dedicated to addressing serious unmet medical needs through the development and commercialization of proprietary therapeutics. For more insights, visit Incyte.com.

Incyte has announced its fourth quarter and year-end 2022 financial results conference call scheduled for 8:00 a.m. ET on February 7, 2023. Investors can access the press release at 7:00 a.m. ET on the same day. The domestic dial-in number for the call is 877-407-3042 and the international number is 201-389-0864, using conference ID 13735569 for participation. A replay will be available for 30 days, with U.S. replay at 877-660-6853. The live webcast will be accessible at Investor.Incyte.com for 90 days.

Incyte announced the development of INCA033989, a novel anti-mutant calreticulin monoclonal antibody aimed at treating myelofibrosis (MF) and essential thrombocythemia (ET). This investigational drug was showcased as one of six plenary presentations at the ASH Annual Meeting in December 2022. Clinical trials for INCA033989 are set to commence in 2023. Research highlights Incyte’s capabilities in evaluating new targets for myeloproliferative neoplasms (MPNs) and graft-versus-host disease (GVHD).

Incyte announced significant findings from its LIMBER trials at the ASH Annual Meeting. Phase 2 data revealed that adding parsaclisib to ruxolitinib (Jakafi^®) results in spleen volume reduction and symptom alleviation in patients with myelofibrosis (MF). Additionally, early results from a Phase 1/2 study indicated that INCB00928 safely improves anemia in MF patients. Both studies emphasize the need for alternative therapies for patients unresponsive to current treatments. The company continues to advance its clinical programs with additional Phase 3 trials underway.

Syndax Pharmaceuticals and Incyte announced promising results from the Phase 1/2 trial of axatilimab in patients with chronic graft-versus-host disease (cGVHD), showing an overall response rate (ORR) of 67% and ORR of 82% at 1 mg/kg every two weeks. The treatment demonstrated broad clinical benefits across multiple organ systems, with a 52% reduction in glucocorticoids for responding patients. Furthermore, axatilimab had a favorable safety profile, with 40% experiencing serious adverse events, yet no high-grade toxicities. Topline data from the AGAVE-201 study is expected mid-2023.

Incyte has announced a Collaboration and License Agreement with CMS Aesthetics for the development and commercialization of ruxolitinib cream in Greater China and parts of Southeast Asia. The agreement includes an upfront payment from CMS to Incyte, along with potential milestones and royalties based on sales. Ruxolitinib cream is already approved in the U.S. for treating autoimmune dermatological conditions like atopic dermatitis and vitiligo. This partnership aims to enhance treatment options in the targeted regions.

Incyte (Nasdaq:INCY) announced its participation in two upcoming investor conferences in November and December 2022. The company will present at the Evercore ISI HealthCONx Conference on November 29, 2022, at 12:35 pm (EST), and at the Bank of America Securities Biotech SMID Cap Conference on December 7, 2022, at 8:35 am (EST) in Boston. These presentations will be available via live webcast on Investor.Incyte.com and can be replayed for 30 days.