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 biotech Incyte
So what: "The availability of Jakafi is a significant medical advancement for people living with myelofibrosis, a debilitating disease," said Incyte CEO Paul Friedman. However, only about 3,500 people in the U.S. are diagnosed with myelofibrosis every year, so today's late-day sell-off -- Incyte shares are now up only 4% -- might be a reflection of that limited market potential.
Now what: Incyte intends to launch Jakafi with partner Novartis
Interested in more info on Incyte? Add it to your watchlist.