Incyte Corporation (NASDAQ:INCY) announced that the European Society for Medical Oncology (ESMO) has published an abstract (#1110PD) containing updated data from the Phase 1 portion of the ECHO-202 trial evaluating the safety and efficacy of epacadostat, Incyte’s selective IDO1 enzyme inhibitor, in combination with Keytruda® (pembrolizumab), Merck’s anti-PD-1 therapy. These data will be highlighted in a poster discussion on Monday, 10 October 2016 from 11:00-12:00 CET at the ESMO Annual Congress 2016 in Copenhagen, Denmark.
In patients with treatment-naïve advanced melanoma (n=19), updated data show a disease control rate (DCR) of 74 percent and an overall response rate (ORR) of 58 percent. All responses are confirmed and ongoing (median follow-up 42 weeks); median progression-free survival (PFS) has not been reached.
“We are very pleased that after extended treatment and longer follow-up, these updated Phase 1 data for epacadostat in combination with pembrolizumab demonstrate robust, durable clinical activity in patients with treatment-naïve advanced melanoma and reinforce the promise of IDO1 inhibition in combination with an anti-PD-1 therapy as an important component of immunotherapy,” said Steven Stein, M.D., Incyte’s Chief Medical Officer.
Epacadostat in combination with pembrolizumab was well-tolerated. The most common (≥15%) all grade treatment-related adverse events (TRAEs) were fatigue, rash, arthralgia, pruritus, diarrhea and nausea. Grade ≥3 TRAEs were observed in 18% of patients; the most common were rash (8%) and increased lipase (3%). (Original Source)
Shares of Incyte are up nearly 5% to $93.25 in pre-market trading. INCY has a 1-year high of $131.33 and a 1-year low of $55. The stock’s 50-day moving average is $81.92 and its 200-day moving average is $79.35.
On the ratings front, Incyte has been the subject of a number of recent research reports. In a report issued on September 26, Argus analyst Jacob Kilstein reiterated a Buy rating on INCY, with a price target of $98, which represents a potential upside of 10.0% from where the stock is currently trading. Separately, on August 16, Piper Jaffray’s Joshua Schimmer reiterated a Buy rating on the stock and has a price target of $102.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Jacob Kilstein and Joshua Schimmer have a total average return of 1.4% and -0.6% respectively. Kilstein has a success rate of 55% and is ranked #1978 out of 4185 analysts, while Schimmer has a success rate of 44% and is ranked #3219.
Incyte Corp. is a biopharmaceutical company, which focuses on the discovery, development, development, formulation, manufacturing and commercialization of proprietary therapeutics to treat serious unmet medical needs, primarily in oncology. Its product, Jakafi, a JAK1 and JAK2 inhibitor, is currently approved in the U.S. for the treatment of intermediate or high-risk myelofibrosis and is in development as a potential treatment for other cancers.