Incyte's (INCY, $85.97) clinical trial disappoints
Incyte Corporation shares took a hit late trading Thursday, after news of disappointing results on one of its clinical trials.
The pharmaceutical company revealed that one of its drugs fell short of meeting its primary endpoint in a phase 3 trial. According Incyte’s statement, its JAK1 inhibitor itacitinib in combination with corticosteroids, “did not statistically improve overall response rate or non-relapse mortality” in patients with acute graft-versus-host disease. That is, it did not meet the primary endpoint of a statistically significant improvement in overall response rate (ORR) at Day 28 compared to placebo plus corticosteroids; also, no difference was found in non-relapse mortality at month 6, which is a crucial secondary endpoint.
The above-mentioned disease is often seen in patients undergoing bone marrow or organ transplants. Results of the trial will be submitted at a future medical conference.
Incyte shares were down around -10% after hours.
INCY sees its 50-day moving average cross bullishly above its 200-day moving average
The 50-day moving average for INCY moved above the 200-day moving average on July 09, 2024. This could be a long-term bullish signal for the stock as the stock shifts to an upward trend.
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Notable companies
The most notable companies in this group are Regeneron Pharmaceuticals (NASDAQ:REGN), Moderna (NASDAQ:MRNA), Sarepta Therapeutics (NASDAQ:SRPT), Incyte Corp (NASDAQ:INCY), Exelixis (NASDAQ:EXEL), Arrowhead Pharmaceuticals (NASDAQ:ARWR), Novavax (NASDAQ:NVAX), BioCryst Pharmaceuticals (NASDAQ:BCRX), Adaptive Biotechnologies Corp (NASDAQ:ADPT), Inovio Pharmaceuticals (NASDAQ:INO).
Industry description
Biotechnology involves genetic or protein engineering to produce medicines/therapies for treating and preventing ailments. The industry also provides crucial ingredients for diagnostics. This multi-billion-dollar industry is heavily focused on research and development, as companies attempt to continually come up with cutting-edge solutions for health. New discoveries for the treatment of diseases provide opportunities for growth for a company in this industry. Discoveries, however, must pass the regulatory approval from the U.S. Food and Drug Administration (FDA) before they can make it to markets. Amgen Inc., Gilead Sciences, Inc. and Celgene Corporation are examples of companies in this industry.
Market Cap
The average market capitalization across the Biotechnology Industry is 2.93B. The market cap for tickers in the group ranges from 151 to 584.21B. NONOF holds the highest valuation in this group at 584.21B. The lowest valued company is MYMX at 151.
High and low price notable news
The average weekly price growth across all stocks in the Biotechnology Industry was 3%. For the same Industry, the average monthly price growth was 19%, and the average quarterly price growth was 20%. PIRS experienced the highest price growth at 127%, while NYMXF experienced the biggest fall at -94%.
Volume
The average weekly volume growth across all stocks in the Biotechnology Industry was -34%. For the same stocks of the Industry, the average monthly volume growth was -6% and the average quarterly volume growth was 54%
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
Valuation Rating: 50
P/E Growth Rating: 85
Price Growth Rating: 58
SMR Rating: 94
Profit Risk Rating: 93
Seasonality Score: -10 (-100 ... +100)