Incyte jumps on Jakafi trajectory

Incyte Corp. (NASDAQ:INCY) jumped $6.31 (11%) to $64.18 on Thursday after its 3Q14 earnings beat Street expectations, including a 63% increase in Jakafi ruxolitinib sales compared to 3Q13.

Jakafi, sold outside the U.S. as Jakavi, brought in $97.8 million in 3Q14 compared to $60.2 million in the prior year period. Incyte raised 2014 Jakafi revenue guidance to $350-$360 million, up from $330-$340 million, excluding royalties on ex-U.S. sales via partner Novartis AG (NYSE:NVS; SIX:NOVN). ...