Favorable Pancreatic Cancer Results 'JAK' Up Incyte Stock
Shares of Incyte Corp. (NASDAQ:INCY) lit up Wednesday morning after the company reported top-line results of ruxolitinib (Jakafi), which showed noticeable survival benefit in a Phase II study in refractory metastatic pancreatic cancer. The stock opened higher, climbing more than 38 percent to top $37 a threshold not breached by the company since 2000 before closing at $36.04 for a gain of $9.04 on the day. More than 18 million shares changed hands 15 times the daily average.
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