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...Shares in Incyte, the US biotech company developing the second medicine, epacadostat, fell 22 per cent, wiping more than $4bn from its market value, which stood at $13.8bn during early trading in New York...
...Mr Loncar identified two problems with the Incyte and Merck collaboration. First, there was scant proof that Incyte’s drug was effective in fighting cancer....
...Both Merck and Bristol-Myers are testing their checkpoints in combination with this type of medicine in a partnership with Incyte, a US biotech group that is developing the most advanced IDO inhibitor....
...A cancer drug made by Incyte boosted the number of patients who responded to immunotherapy during an early-stage trial, sending shares in the group up 6 per cent in after-hours trading....
...The knock-back wiped more than 10 per cent off Incyte’s shares on Monday....
...Shares in Incyte have jumped 20 per cent since the data were made public earlier this month....
...Shares in Incyte fell by 11 per cent on Monday, reducing its stock market value by almost $3bn....
...“When you’re dealing with agents that are going to stimulate the body, you have to be careful,” says Dr Steven Stein, chief medical officer at Incyte, a biotech focused on cancer drugs....
...Incyte also sold the rights to its experimental pill to treat inflammatory conditions to Eli Lilly & Co....
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