John McCamant, editor of The Medical Technology Stock Letter reviews a favored biotech stocks, noting that the company will have a very strong presence at the American Society of Hematology (ASH) Annual Meeting 2016 in early December.
Incyte (INCY) reported a solid third quarter with Jakafi revenue of $224 million – up 39% year-over-year. Jakafi sales guidance was raised to $850-$855 million (from $825-835 million previously), highlighting the solid outlook for the drug.
This is important and in stark contrast to many other companies that recently reduced guidance in Q3.
INCY— in partnership with Eli Lilly (LLY) — announced that new data from a pivotal Phase 3 study of baricitinib in the treatment of moderate-to-severe rheumatoid arthritis (RA) which demonstrated significant improvement in patient-reported outcomes.
The broad array of data highlighting the potential of INCY’s huge pipeline that has been accepted for presentation at this year’s American Society of Hematology meeting is truly impressive.
More than 20 abstracts including data from Jakafi and its small molecule development programs will be presented.
Presentations will include the pooled overall survival analysis of five-year data from COMFORT-I and COMFORT-II trials, which reinforces the long-term clinical profile of Jakafi.