As I said before, MF is a chronic disease, so you judge a drug on durable effect and tolerability.
In what looks like an expanded p1 study, Imetelstat generated 44% response rate among 18 patients followed for 3 months, with side effects asserted to be tolerable (Dr Tefferi, not to put too fine a point on it, is known to be a frequent liar, so while his results are as good as anyone else's, his judgment calls are worthless). This is a lead, but it is 6-10 years from a possible drug approval.
Imetelstat is a lipid-conjugated polynucleotide; both lipid conjugates and polynucleotides have a history of being bad drugs. It is a telomerase inhibitor, which is a type of candidate that has had problems in the past, and it is given by slow intravenous infusion, which is the least acceptable way to dose a drug.
I can tease a little more out of the poster, but it's only of interest to Geron fans. Basically, the news should have no effect on Incyte.
INCY is now in the vicinity of what I consider its "resting price;" I see no particular buying opportunity (nor need to sell, either).
I spent years making them--"oligo" is a subset of "poly."
I don't know why Tefferi is a known liar, it's just that he lies and seems surprised when he gets caught. Return of myelofibrosis symptoms when a successfully treated patient is taken off drug is not a novel withdrawal syndrome, and most likely the only reason he wasn't universally called on that in seconds was that nobody could believe such a fine clinical physician could make such an outrageous claim. He also published survival curves that were drawn in such a way as to mislead casual readers as to the relative effectiveness of the treatments compared. There are some other instances.