Incyte Corporation

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Investigation Details

On November 18, 2024, INCY announced it will pause enrollment in the Phase 2 study of its drug INCB000262 in chronic spontaneous urticaria (CSU) due to “the observation of certain in vivo preclinical toxicology findings.” The Company also announced the discontinuation of the development of its drug INCB000547 for patients with cholestatic pruritus (CP).

Both of these drugs stem from Incyte’s $750 million acquisition of Escient Pharmaceuticals earlier this year.

Following this news, Incyte’s stock price fell by $9.05 per share, or approximately 12% to close at $67.92 per share.