Incyte, Corp (INCY) is a pharmaceutical company based in Alapocas, Delaware. Incyte has one drug which has been approved by the U.S. Food and Drug Administration (FDA) and has been prescribed to several thousands of patients in the United States, Jakafi. The company was founded in Palo Alto, California in 1991 and went public in 1993. The company is working on an investigational Phase III drug for rheumatoid arthritis in partnership with Eli Lilly, called baricitinib. Novartis acquired Incyte's c-Met inhibitor capmatinib (INC280, INCB028060), which is in Phase II clinical trial as monotherapy in patients with advanced hepatocellular carcinoma
Reported before earnings today (5/9/16) Earnings: EPS $0.12 Revenue $263M Estimates: EPS $0.20 Revenue $263.97M Up 3.07% today
Eli Lilly (LLY) and Incyte (INCY) shares plunged Monday morning after the Food and Drug Administration failed to approve their rheumatoid arthritis drug baricitinib, saying more clinical trials are needed.
