ASH Reveals Promising Datapoints for Incyte (INCY) - UBS

UBS analyst, Matthew Roden, attended the ASH meeting and found several datapoints relevant to Incyte's (NASDAQ: INCY) Jakafi and competing JAK inhibitors. An exploratory analysis of the impact of anemia on Jakafi efficacy showed: patients with baseline anemia had a lower benefit than those without (expected); patients who developed anemia during treatment had equal therapeutic benefit as those who did not develop anemia (surprising); and every patient received therapeutic benefit from Jakafi compared to placebo regardless of anemia status before or during treatment.

On the competitive front, pacritinib ph3 PERSIST-1 data at ASH showed 19.1% of patients receiving >35% spleen volume reduction at 24 wks compared to 4.7% for BAT (ex- Jakafi). 59% of pacritnib patients experienced

Jakafi longterm ph3 COMFORT results were presented that showed 53.4% of patents seeing >35% spleen reduction at some point over 5 years, exclusive of 42.2% seeing reduction in the BAT group following crossover to Jakafi. Also reported was that the duration of sustained spleen reduction at 5 yrs occurred in 67% of 51 evaluable patients. These data continue to reinforce widespread use of Jakafi, which should grow the top line as investors await forthcoming pipeline data catalysts over the next 2 years.

No change to Buy rating or $135 PT

For an analyst ratings summary and ratings history on Incyte click here. For more ratings news on Incyte click here.

Shares of Incyte closed at $107.72 yesterday.

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