Incyte, Novartis Initiate Phase 3 Jakavi Drug Study For Coronavirus Treatment [Yahoo! Finance News]
Incyte Corporation (INCY)
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Source: Yahoo! Finance News
Global biotech company Incyte INCYNVSJakavi is used in adults with bone marrow cancer, or myelofibrosis, among other conditions. Incyte and Novartis seek to evaluate if the drug helps COVID-19 patients suffering from an immune system overreaction, also called a cytokine storm, which could result in complications like pneumonia or acute respiratory distress syndrome. The Phase 3 study will compromise about 400 patients globally. The collaborative study will be sponsored by Incyte in the U.S. and Novartis outside of the U.S.Incyte shares rose 4.5% on Friday to close at $100.In addition, given the urgent nature of the COVID-19 pandemic, Incyte also announced that is initiating a separate emergency Expanded Access Program EAP) in the U.S. The protocol will allow eligible patients with severe COVID-19 associated cytokine storm to receive the Jakavi drug while it is being investigated for this purpose.“There is an unprecedented unmet medical need for treatments that prevent or reduce severe
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