Incyte Shares Fall in After-Hours Trading on Drug Trial Disappointment

Phase 3 Trial of itactinib treatment for GVHD failed to meet primary endpoint.
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Shares of Incyte Corporation (INCY) - Get Report fell sharply in late trading Thursday after the company said one of its drugs failed to meet its primary endpoint in a phase 3 trial.

The company said its itactinib treatment, in combination with corticosteroids, “did not statistically improve overall response rate or non-relapse mortality” in patients with acute graft-versus-host disease. The disease is commonly seen in patients undergoing bone marrow or organ transplants.

Shares fell $8.87, or 10.3%, to $77.10 in after-hours trading.