(1) IDIOTS misinterpreting the press release & thinking Jakafi failed as a treatment for PV
(2) SHORTS attempting to manipulate the PPS--notice that AH volume was insignificant; just a couple hundred shares traded it down to $45. Looks like low-budget manipulation IMO.
But here are the FACTS:
Today's press release provided results a for a smaller 110 patient phase III trial called "RELIEF", which would have given Jakafi another revenue stream (label expansion) if it met the endpoints of the trial.
"RELIEF was designed to provide us with additional information regarding symptom improvement and is not required for FDA approval. The patients recruited into the RELIEF study had less advanced PV compared to those in RESPONSE, our larger pivotal Phase III study which formed the basis of the sNDA, and which met the primary endpoint of improved hematocrit control and reduced spleen size in patients with uncontrolled PV,” stated Richard Levy, M.D., Executive Vice President, Chief Drug Development & Medical Officer of Incyte.