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Fly News Breaks for December 2, 2018
INCY
Dec 2, 2018 | 19:00 EDT
Piper Jaffray analyst Tyler Van Buren notes that Incyte presented an update of the Phase II trial evaluating INCB050465 in MF patients who have had suboptimal response to ruxolitinib monotherapy. While the initial data suggest clinical benefit in these patients, the addition of Cohorts 3 and 4 which incorporate continuous dosing of parsaclisib and will likely report in 2019, will be necessary to assess long-term benefit, he contends. Additionally, as many attempt to compare these data to the previously reported umbralisib combo data, the analyst views the differences in patient enrollment criteria between the parsaclisib and umbralisib combination programs as material, and therefore views any comparison as "futile." Van Buren has an Overweight rating and $85 price target on the shares.
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