Incyte (NASDAQ:INCY) news for Friday about a recent clinical trial failing to meet its endpoints has INCY stock taking a beating.
An Incyte news release reveals that the Phase 3 GRAVITAS-301 study was a bust. This study sought to determine the effectiveness of using itacitinib in combination with corticosteroids in patients with treatment-naïve acute graft-versus-host disease.
What the study found was that there wasn’t a statistically significant improvement in patients taking the drug as compared to those on placebo after 28 days. The same was also true for non-relapse mortality after six months. At least the drug didn’t cause any major adverse reactions in patients.
Steven Stein, M.D., Chief Medical Officer for Incyte, weighs in on the poor INCY stock news.
“The result of this study is disappointing. However, we remain committed to building on the success of the REACH program for ruxolitinib, which showed positive results in steroid refractory acute GVHD. Additionally we will continue to study the role of JAK inhibition in chronic GVHD and in the prophylactic setting, as we seek to develop treatments for patients with this debilitating and often fatal disease”
Incyte says that it will be informing investigators about the results of the study. It will also be reaching out to the patients taking part in the endeavor to determine the best way to conclude the study.
INCY stock was down 9.95% as of Friday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.