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Fly News Breaks for February 19, 2020
Feb 19, 2020 | 10:50 EDT
Piper Sandler analyst Tyler Van Buren noted that TRuE-AD1 was the second of Incyte's two pivotal atopic dermatitis, or AD, trials to succeed and he called the data reported his morning for ruxolitinib cream "impressive." He believes the placebo-adjusted benefits between 31-44% exceed management and investor expectations and also notes those type of results are twice to three times what is observed with Eucrisa. Based on the two trials, topical ruxolitinib is "highly likely to be approved" and "has the profile of an exciting $500MM+ topical AD product," contends Van Buren, who reiterated his Overweight rating on Incyte shares.