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Incyte Corporation stock price
Incyte Corporation latest news:
CORRECTED-Lilly/Incyte pill beats placebo in mid-stage eczema trial
Sept 14 (Reuters) - Eli Lilly and Co and Incyte Corp
on Thursday said a mid-stage trial of their oral drug
baricitinib showed that at the highest dose it worked better
than placebo for people with moderate-to-severe atopic
U.S. stocks end higher; Nasdaq boosted by biotech gain
U.S. stocks ended higher on Wednesday, with the Nasdaq seeing a particular gain on the strength of biotechnology companies, while the S&P 500 closed higher for a fourth straight session. The Dow Jones Industrial Average rose 25 points, or 0.1%, to 21,890. The S&P 500 added 11 points to 2,457, a gain of 0.5%. The Nasdaq Composite Index advanced 66 points to 6,368, a rise of 1.1%. The biotechnology sector was one of the strongest of the day, with the iShares Nasdaq Biotechnology ETF up 1.9%, boosted by Gilead Sciences , which surged 7.3%, and Incyte Corp. , up 10.6%. Markets were also supported by strong economic data, including better-than-expected reads on economic growth and private-sector employment. The Dow was pressured by Travelers Companies Inc. , which fell 1%, and by Verizon Communications , which was off 0.8%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Incyte shares surge 10% on news that it and Eli Lilly will re-file for arthritis drug approval
Incyte Corp. shares soared 10.1% in extremely heavy Wednesday trade after news that it and Eli Lilly & Co. plan to reapply for approval of rheumatoid arthritis drug baricitinib by the end of January 2018, with a decision expected mid-year. Eli Lilly shares rose 2.5% in heavy Wednesday trade. The Food and Drug Administration previously failed to approve the drug, asking for more clinical data on dosage and to clarify safety concerns. The two companies said they had discussed the matter with the FDA in late August and that the resubmission package would include new safety and efficacy data. Baricitinib is intended for moderate-to-severe rheumatoid arthritis, can be taken once a day and is expected to generate more than $2 billion in sales a year. Incyte shares have surged 5.7% over the last three months and Eli Lilly shares have surged 2.8%, compared with a 1.9% rise in the S&P 500 .Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Biotech stocks rally, ETF on track for third straight daily gain
Biotechnology stocks rallied on Wednesday, with one of the biggest exchange-traded funds dedicated to the sector on track for its third straight daily advance. The iShares Nasdaq Biotechnology ETF gained 1.3%, bringing its week-to-date rise to 3.6%. Among the biggest gainers in the sector, Gilead Sciences Inc. popped 5.6%, bringing its gain over the past three months to 23.7%. The stock is on track for its largest percentage gain since November, as well as its highest close since September 2016. Separately, Incyte Corp. added 4.5% while BioMarin Pharmaceutical Inc. advanced 4.8%. Biogen Inc. gained 2.4% while Regeneron Pharmaceuticals Inc. was up 2%. On the downside within the pharmaceutical sector, U.S.-listed shares of Novartis AG were down 1%. The company's CAR-T cell therapy was approved by the Food and Drug Administration on Wednesday, making it the first gene therapy to be available in the U.S. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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