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Fly News Breaks for October 16, 2019
INCY
Oct 16, 2019 | 11:39 EDT
Stifel analyst Stephen Willey believes Incyte's disclosure of top-line Phase 3 REACH2 results demonstrating ruxolitinib yields a statistically significant improvement in Day 28 overall response rate versus best available therapy in patients with steroid-refractory, acute graft-versushost-disease - the trial's primary efficacy endpoint - is in-line with most investor expectations. The analyst believes the yet-to-be-disclosed secondary efficacy endpoints will be of particular interest to both investors/clinicians. He also argues that the Phase 3 REACH3 trial evaluating ruxolitinib versus BAT in steroid-refractory chronic GVHD represents the more meaningful trial for his longer-term ruxolitinib estimates, but also likely carries the greatest risk. He has a Hold rating on Incyte's shares.
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