By Emily Dattilo
Shares of Incyte were tumbling after the biopharmaceutical company announced positive results from two skin disease treatment studies, but it wasn't enough for Wall Street.
Incyte stock fell 10% to $61.03, putting it on track for its largest daily percentage decrease since 2018. It also the worst performer in the S&P 500.
The company on Monday announced positive top-line results from its Phase 3 clinical trial program evaluating the safety and efficacy of povorcitinib in adult patients with moderate to severe hidradenitis suppurativa, an inflammatory skin condition.
Though both studies met their primary endpoint, William Blair analysts led by Matt Phipps, who rate the stock at Outperform, wrote that the placebo-adjusted rates were well below the Phase 2 results' levels.
"While the trial achieved statistical significance and will support regulatory submissions, investors will likely question the potential role for povorcitinib given multiple biologics with higher levels of activity," analysts wrote.
Write to Emily Dattilo at emily.dattilo@dowjones.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
March 17, 2025 11:21 ET (15:21 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。