Today’s Research Reports on Stocks to Watch: Juno Therapeutics and Incyte Corporation
Both Juno Therapeutics and Incyte Corporation saw their shares drop on Monday after the companies released disappointing study and trial results over the weekend. Juno released results for the company’s new lead candidate JCAR17 that didn’t get a great response. Incyte failed to thrill with results from their IDO1 enzyme inhibitor epacadostat study that was in combination with Merck’s Keytruda.
RDI Initiates Coverage on:
Juno Therapeutics, Inc.
Juno Therapeutics, Inc. shares closed down 10.74% on sky high volume on Monday after the company released new data for their experimental T-cell therapies. The company has been developing CAR-Ts that target CD19, a protein that is found in cancerous blood cells. Juno presented early trial results at the American Society for Clinical Oncology for JCAR017, to treat non-Hodgkin lymphoma. Out of 32 evaluated trial patients only 66% had responded to the drug. 18% had suffered severe neurotoxicity and even worse, one passed away. The company did assure that the death was not attributed to the CAR-T treatment however. Traders were not at all impressed with the results and shares went falling.
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Incyte Corporation shares closed down 5.68% on Monday after announcing disappointing data from its advanced non-small cell lung cancer patient cohort of its ongoing phase I/II ECHO-202 study. The company’s IDO1 enzyme inibitor epacadostat was used in combination with Merck’s anti-PD-1 therapy Keytruda. The results didn’t impress investors and Adam Feuerstein of TheStreet, noted, "As disclosed Saturday, the overall response rate in the study was 14 out of 40 patients, or 35%. Two lung cancer patients with initial partial responses later improved to complete responses, an outcome that Incyte Chief Medical Officer Steve Stein described to Endpoints News as a "big deal" in this lung cancer setting. The problem is that the denominator in the response rate equation should have been 43 patients, not 40, and Incyte isn’t telling anyone if those three extra patients responded to treatment or not." Incyte has said they did nothing wrong however. Despite the drop in price on Monday, shares of Incyte have been up 23.7% YTD.
Access RDI’s Incyte Research Report at:
Our Actionable Research on Juno Therapeutics, Inc. (NASDAQ: JUNO) and Incyte Corporation (NASDAQ: INCY) can be downloaded free of charge at Research Driven Investing.
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