Incyte falls after late-stage data from experimental skin disease drug

UCB SA

17/03/2025 14:33

Updates

** Drugmaker Incyte Corp's INCY.O shares fall ~10% to over a seven-month low of $61.16

** Co's experimental drug, povorcitinib, meets the main goal of two separate late-stage trials, but significantly underperformed prior studies

** At least three analysts said this could make it less competitive against other treatments for the condition called hidradenitis suppurativa

** Novartis' NOVN.S Cosentyx and UCB's UCB.BR Bimzelx are already approved to treat this condition that causes painful bumps and lesions under the skin

** Brokerage Truist securities said that while the data will help get the drug approved, given the significant need for patients, its commercial potential may be impacted

** Up to last close, stock had risen 15.2% in the past 12 months

 (Reporting by Siddhi Mahatole)

 ((siddhi.mahatole@thomsonreuters.com))