As itacitinib stumbles in acute GvHD, Incyte turns to chronic setting

Incyte’s discontinuation of itacitinib’s development in acute graft-versus-host disease after a Phase III miss has muddied the outlook for the JAK-1 inhibitor in the larger setting of chronic GvHD and marks a setback as the company aims to diversify beyond Jakafi.

Incyte Corp. (NASDAQ:INCY) fell $8.07 to $77.90 on Friday after unveiling the data late Thursday, translating to about a $1.7 billion loss in market cap. ...