Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Incyte
So what: Patients had a 42% response rate to the treatment for myelofibrosis versus less than 1% for a dummy drug, meeting the company's expectations. An FDA review is expected to take six months, and Incyte expects to launch the drug by the end of next year.
Now what: The drug has already received fast track and orphan drug status from the FDA and doesn't need to be tested in another late-stage trial. This positive news is just what shares of Incyte need to keep their two-year stock run going. I am buying the move today; as the company gets closer to product launch, we should see even more positive momentum, barring major setbacks.
Interested in more info on Incyte? Add it to your watchlist.
