Incyte's (INCY) Jakafi PV Efficacy Looks Solid, Says Wells Fargo

Incyte's (NASDAQ: INCY) Jakafi PV efficacy looks solid in detailed data, said Wells Fargo analyst Brian Abrahams. Comments follow data presented at ASCO.

"Efficacy looked robust across all explored measures in addition to the previously reported composite primary endpoint, with marked benefits on spleen reductions, hemoglobin (including maintained complete hematologic remissions), and symptoms (including pruritus, an important issue) vs. best available therapy. The broad and clear range of benefits we believe offset any questions discussed during the presentation as to why the primary composite endpoint response rate was not even higher than the 21% (vs. 1% control) reported," said Abrahams.

"Tolerability looked acceptable, and we believe should not limit uptake especially given the symptomatic improvements, although there were slightly higher rates of diarrhea, muscle spasm, and herpes zoster. SAEs were comparable after adjusting for exposures, and we note some modest elevation in gd.3/4 anemia/thrombocytopenia though overall rates were relatively low and this was inline with Jakafi's known profile," he added, concluding, "Solid PV efficacy should give Jakafi a place in the secondline PV paradigm."

Wells Fargo has a Market Perform rating on Incyte .

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 $48.89 yesterday.

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