Incyte (NASDAQ: INCY) shareholders had a rough Thursday, with shares dropping about 10% on Thursday and another 3% Friday after ASCO abstracts were published. Jakafi, Incyte's myelofibrosis drug partnered with Johnson & Johnson, underperformed -- it failed to generate a statistically significant increase in progression-free survival or overall survival in a trial for pancreatic cancer patients.
The drug did show some clinical benefit in overall survival for a previously defined patient subgroup, with overall survival at 3 and 6 months of 48% and 42%, vs 29% and 11% for the control. Jakafi is in clinical trials for a number of other potential oncology indications -- was the drop overdone?
In this video, from Market Checkup, the Motley Fool's health care focused investing show, health care analysts Michael Douglass and David Williamson discuss the data results and key takeaways for investors.
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David Williamson and The Motley Fool own shares of Johnson & Johnson, and The Motley Fool recommends Johnson & Johnson. Michael Douglass has no position in any stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.