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Shares Soar on Top-Line Results

Favorable Pancreatic Cancer Results 'JAK' Up Incyte Stock

By Marie Powers
Staff Writer

Wednesday, August 21, 2013

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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