Incyte Leads S&P 500 Decliners on Skin Condition Drug Trial Results | Global News Avenue

Incyte shares (Incy) Sinked nearly 10% on Monday, making it the biggest drop in the 500 index since the latest clinical trials were released.

The company released its latest Phase III results, which are Povorcitinib, an oral treatment for dermatological compound inflammation (HS). Both drugs “meet their primary endpoints” in the study, Incyte said, reducing the number of abscesses and inflammatory nodules caused by the disease compared to placebo.

However, patients reported lower symptoms than in previous trials of the same drug.

Incyte said Monday that the drug’s safety is similar to previous trials and called the data a positive result. The company said the data supports its previous plan to submit the drug for regulatory approval.

“Given the limitations of current HS treatment and its impact on patients’ daily lives, there is an urgent need for new, well-tolerated and effective therapies to rapidly reduce the signs and symptoms of HS, especially pain,” said Incyte Chief Medical Officer.

Incyte shares fell about 10% on Monday, bringing them about 5% higher than their position a year ago. This move is the worst day since stocks Disappointing sales guide Last month, the stock fell 7%.