Boston, MA 10/04/2013 (wallstreetpr) – Incyte Corporation (NASDAQ:INCY) has announced the results of a 28-day, PhaseII, placebo-controlled clinical-trial that was conducted on 50 patients suffering from chronic plaque psoriasis, for INCB39110, the company’s proprietary oral-JAK1 inhibitor.
In this trail, the efficacy of this drug was observed in the patients who had been treated with the INCB39110. It was largely well-tolerated and there was no evidence of myelosuppression. These results are definitely encouraging. They demonstrate the anti-inflammatory activity that the agent has and its therapeutic potential to inhibit psoriasis.
Thursday’s trading session
In Thursday’s trading, Incyte Corporation (NASDAQ:INCY) rose by 1.09%. The shares opened at a price of $40.67, climbed to an intraday high of $41.24 and dipped to a close of $40.82. Approximately 2.97 million shares were traded on Thursday while an average volume of 2.22million shares were traded over a 30 day period. The 52-week low of the company’s shares is $15.43 and its 52-week high is $41.24. The company has a market capitalization of $6.25 billion.
About the company
Incyte Corporation (NASDAQ:INCY) was incorporated in 1991. It is a bio-pharmaceutical company that focuses on discovering, developing and commercializing small-molecule drugs that are used in the treatment of serious unmet-medical needs. JAKAFI, the company’s advanced compound, also called INCB18424, is an oral-Janus associated kinase. It is an inhibitor that is used to treat patients suffering from intermediate or high-risk myelofibrosis. This includes primary MF, post-essential thrombocythemia MF and post-polycythemia vera MF Incyte Corporation (NASDAQ:INCY) has a second oral-JAK1 and JAK2-inhibitor, LY3009104 (INCB28050), which is still subject to a collaboration-agreement with Eli Lilly and Company. Lilly received global development & commercialization rights for this compound for autoimmune and inflammatory diseases.
JAKAFI
In 2011 November JAKAFI became commercially-available in the U.S. It is distributed via a network of specialty-pharmacy providers which work with Incyte CARES.
