Incyte Pharmaceuticals makes progress in inflammatory diseases
Last but not least, Incyte Pharmaceuticals recently announced positive results from a phase 2 trial testing its proprietary oral JAK1 inhibitor, INCB39110, as an oral treatment for rheumatoid arthritis.
INCB39110 previously showed promising results for the treatment of psoriasis, another inflammatory disease. The results from these two tests indicate that the treatment shows promise as a potential treatment for inflammatory diseases -- one of the largest markets in the pharmaceutical industry today.
Incyte is best known for its sole marketed product, Jakafi (Jakavi), which is an approved treatment for myelofibrosis, a type of bone marrow cancer. Incyte holds a collaborative agreement with Novartis to market the drug outside the United States.
Incyte's revenue primarily comes from two primary sources -- direct sales of Jakafi and product royalty revenues. Last quarter, direct sales of Jakafi soared 83% year-over-year to $54.1 million, accounting for 53% of the company's total revenue. Shares of Incyte are up more than 140% over the past twelve months.